Historic Multifamily
33 W Willamette Ave Colorado Springs, CO 80903
For Sale
$1,290,000
Historic multifamily built in 1902 with seven residential units totaling about 5,581 square feet.
Property Size5,581 SF
Price / SF$231.14
Days on Market78
Property Features for 33 W Willamette Ave
General Information
Standard status
Active
Size
5,581 SF
Listing Agency:
Cushman & Wakefield
(719) 238-9074
Listed By:
Nic Polaski · License #100099164
(719) 238-9074
Source:
Exprealty
Added: May 11
Changed: Jul 21
Last Checked: Jul 26 at 7:19PM
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
Investment Insights
Based on property information with market context.
33 W. Willamette Ave is a historic multifamily property originally built in 1902. The building contains seven residential units with approximately 5,581 square feet in total living area. The site is described as a compact urban infill location, and the asset is positioned to serve tenants looking for neighborhood character and walkable access to nearby daily destinations.
Located in the Downtown / Old North End area of Colorado Springs, the property is noted as being in close proximity to Colorado College and Monument Creek. The remarks also reference nearby downtown dining, retail, and cultural amenities.
This is a for-sale multifamily investment opportunity centered on the building’s historic architecture and established unit configuration.
Located in the Downtown / Old North End area of Colorado Springs, the property is noted as being in close proximity to Colorado College and Monument Creek. The remarks also reference nearby downtown dining, retail, and cultural amenities.
This is a for-sale multifamily investment opportunity centered on the building’s historic architecture and established unit configuration.
Key Highlights
- Historic multifamily building built in 1902
- 7 residential units totaling about 5,581 SF
- In Downtown / Old North End neighborhood of Colorado Springs
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $129.9k | $23.28 |
| − Vacancy | −$6.8k | −$1.21 |
| EGI | $123.2k | $22.07 |
| − OpEx | −$55.4k | −$9.93 |
| NOI | $67.7k | $12.14 |
5,581 SF · lease $23.28/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$967.8K
$846.8K – $1.13M
NOI $67,743 @ 7.0% cap · market cap 5.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.10M
$964.4K – $1.29M
NOI $77,152 @ 7.0% cap · market cap 5.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Historic multifamily built in 1902 with seven residential units totaling about 5,581 square feet.
Where is this apartment building located?
The property is located at 33 W Willamette Ave Colorado Springs, CO.
What is the asking price?
The asking price for this property is $1,290,000.
What are key features of this property?
This property features: Historic multifamily building built in 1902; 7 residential units totaling about 5,581 SF; In Downtown / Old North End neighborhood of Colorado Springs
