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 Market97
Property Features for 340 Gahart Drive
General Information
Standard status
Active
Size
3,672 SF
Property subtype
Multi Family
Site & Location
Neighborhood
Eastborough
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 15 at 4:18AM
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
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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 / Yr
$41,355
Cap Rate
6.37%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
449
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
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
