Four-Unit Multifamily
For Sale
$649,000
340 Gahart Drive, Colorado Springs, CO 80916
Four-unit multifamily property with two 3BD/1BA and two 2BD/1BA apartments, with convenient access to major corridors.
Property Size3,672 SF
Price / SF$176.74
Days on Market51
Property Features for 340 Gahart Drive
General Information
Standard status
Active
Size
3,672 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$2,307
Building Details
Year Built
1972
Listing Agency:
Cushman & Wakefield
(303) 292-3700
Listed By:
Lee Wagner · License #100084704
(417) 459-2155
Source:
Exitrealty
Added: Jul 19
Changed: Sep 1
Last Checked: Sep 7 at 6:07AM
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.
This four-unit multifamily building offers a straightforward rental mix: two apartments feature 3BD/1BA layouts and two apartments feature 2BD/1BA layouts. The smaller community size is designed for streamlined management while still providing diversified income across four rental units.
The property is positioned with convenient access to both the South Academy and Powers Blvd corridors, placing it within reach of major employment centers such as Amazon Distribution Warehouse, along with shopping, dining, schools, and recreational amenities.
Offered for sale as a standalone investment or as an addition to an existing portfolio, 340 Gahart Drive is presented as a well-located, income-producing multifamily asset in Colorado Springs.
The property is positioned with convenient access to both the South Academy and Powers Blvd corridors, placing it within reach of major employment centers such as Amazon Distribution Warehouse, along with shopping, dining, schools, and recreational amenities.
Offered for sale as a standalone investment or as an addition to an existing portfolio, 340 Gahart Drive is presented as a well-located, income-producing multifamily asset in Colorado Springs.
Key Highlights
- Four‑unit multifamily property built in 1972
- Unit mix: two 3BD/1BA apartments and two 2BD/1BA apartments
- Four rental units provide diversified income within a smaller apartment community
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$41,355
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.37%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$827,100
$827.1K
Cap Rate 7%
$590,786
$590.8K
Cap Rate 9%
$459,500
$459.5K
Market Conditions
NOI Build-Up for 3,672 SF
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.
Gross rent
$66.5K $18.12/SF
− Vacancy
−$7.5K −$2.03/SF
EGI
$59.1K $16.09/SF
− OpEx
−$17.7K −$4.83/SF
NOI
$41.4K $11.26/SF
Area
ZIP 80916
Vacancy
11.21%
Lease Rate
$18.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$827,100
Cap Rate 7%
$590,786
Cap Rate 9%
$459,500
Alternative Uses
Best Use
Multifamily LT 5
$590.8K
$516.9K – $689.3K
NOI $41,355 @ 7.0% cap · market cap 6.37%
Second Best
Apartment 5plus
$546.6K
$478.3K – $637.7K
NOI $38,262 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$852.8K
$746.2K – $994.9K
NOI $59,696 @ 7.0% cap · market cap 9.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
449
Businesses Nearby
Explore this area
Business Placement
Demographics for 80916, CO
39,990
Population
15,464
Households
2.6
Avg Household Size
30
Median Age
18%
College-Educated
88%
High-School Grad
18.4 sq mi
ZIP Area
2,173
Density / Sq Mi
$63,399
Median Household Income
$37,708
Median Earnings
$1,505
Median Rent
$289,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit multifamily property with two 3BD/1BA and two 2BD/1BA apartments, with convenient access to major corridors.
Where is this quadplex located?
The property is located at 340 Gahart Drive Colorado Springs, CO.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Four‑unit multifamily property built in 1972; Unit mix: two 3BD/1BA apartments and two 2BD/1BA apartments; Four rental units provide diversified income within a smaller apartment community
