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Colorado Springs Multifamily Investment Property

33 University Dr, Colorado Springs, CO 80910

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For Sale

$690,000

Four-unit multifamily asset in Southeast Colorado Springs, renovated in 2021.

Type:Investment

Property size:

3,111 SF

Price / SF:

$221/SF

HighLights

Four‑unit multifamily asset providing in‑place cash flow.
Renovated in 2021, offering potential for increased value.
All units are 2‑bedroom, 1‑bath layouts, appealing to a broad tenant base.
Affordable rent positioning relative to the Colorado Springs market.
Located in Southeast Colorado Springs, near retail, convenience, and employment areas.
Strong tenant demand in a growing Colorado Springs market.

We can help!

Listing Contact

Nic Polaski

Learn more

For Sale

$690,000

Four-unit multifamily asset in Southeast Colorado Springs, renovated in 2021.

Type:Investment

Property size:

3,111 SF

Price / SF:

$221/SF

Added:: Apr 24, 2026
Days on Market:: 50
Last Refresh:: Apr 24 at 4:04 pm

Property Features for 33 University Dr

General Information

Standard status: Active
Size: 3,111 SF
Property subtype: Investment

Building Details

Year Built: 1969

We can help!

Listing Contact

Nic Polaski

Listing agent Nic Polaski License #100099164

Listing office CUSHMAN & WAKEFIELD

Listing date Apr 24, 2026

Source Elliman

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of CUSHMAN & WAKEFIELD

HighLights

Four‑unit multifamily asset providing in‑place cash flow.
Renovated in 2021, offering potential for increased value.
All units are 2‑bedroom, 1‑bath layouts, appealing to a broad tenant base.
Affordable rent positioning relative to the Colorado Springs market.
Located in Southeast Colorado Springs, near retail, convenience, and employment areas.
Strong tenant demand in a growing Colorado Springs market.

Overview

Located in Southeast Colorado Springs, 33 University Drive is a 4-unit multifamily property. Constructed in 1969 and renovated in 2021, the property contains 3,111 square feet. All four units feature a 2-bedroom, 1-bath layout. The property benefits from its positioning in the affordable rent segment of the Colorado Springs market, strong tenant demand, and proximity to retail, convenience, and employment areas. The location has a walk score of 63, indicating it is somewhat walkable, a bike score of 47, indicating it is somewhat bikeable, and a transit score of 39, indicating some transit options are available. This investment offers a balance of in-place cash flow paired with recent renovation upside. The property presents an opportunity for stable income with long-term appreciation potential.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$61.6k	$19.80
− Vacancy	−$3.4k	−$1.09
EGI	$58.2k	$18.71
− OpEx	−$17.5k	−$5.61
NOI	$40.7k	$13.10

3,111 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$582.1K

$509.3K – $679.1K (±1% cap)

NOI $40,747 @ 7.0% cap · market cap 5.91%

Second Best

Apartment 5plus

$539.5K

$472.0K – $629.4K (±1% cap)

NOI $37,762 @ 7.0% cap · market cap 5.47%

Theoretical Best

Specialty Retail

$614.4K

$537.6K – $716.8K (±1% cap)

NOI $43,006 @ 7.0% cap · market cap 6.23%

Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Current Use by Public Records

Quadplexes

Suggested Use

Location Insight

Map
Local Demand

City: Colorado Springs
County: El Paso
State: Colorado
Longitude: -104.762287
Latitude: 38.8306918

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For sale
Quadplexes
CO
Colorado Springs
80910
33 University Dr

What type of property is this?

Quadplex - Four-unit multifamily asset in Southeast Colorado Springs, renovated in 2021.

Where is this quadplex located?

The property is located at 33 University Dr Colorado Springs, CO.

What is the asking price?

The asking price for this property is $690,000.

What are key features of this property?

This property features: Four‑unit multifamily asset providing in‑place cash flow.; Renovated in 2021, offering potential for increased value.; All units are 2‑bedroom, 1‑bath layouts, appealing to a broad tenant base.