Studio
For Sale
Contact for pricing
3737 Red Canon Ave Unit 5, Colorado Springs, CO 80904
Open-concept living with a functional kitchen equipped with refrigerator, stove/oven, microwave, and dishwasher.
Property Size350 SF
Price / SF$2.79
Days on Market49
Property Features for 3737 Red Canon Ave Unit 5
General Information
Standard status
Active
Size
350 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Old Colorado City
Units
Unit Mix
1 x studio
Multifamily Units
1
Building Details
Year Built
1955
Listing Agency:
The Springs Team Real Estate Company
Listed By:
Brett Weldon CMLXV MRP
(719) 481-1000
Source:
Hudsonstonegateteam
Added: Sep 12
Changed: Oct 25
Last Checked: Oct 7 at 1:44PM
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 The Springs Team Real Estate Company
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Investment Insights
Based on property information with market context.
This studio apartment offers an efficient open-concept arrangement with one bathroom and a combined living and sleeping area. The kitchen includes a refrigerator, stove/oven, microwave, dishwasher, and cabinet storage. Natural light and a low-maintenance layout support straightforward everyday living. The property was built in 1955.
Located on the west side of Colorado Springs, the apartment is near Old Colorado City, Downtown Colorado Springs, and outdoor attractions. The address is 3737 Red Canon Ave Unit 5, Colorado Springs, CO 80904.
Located on the west side of Colorado Springs, the apartment is near Old Colorado City, Downtown Colorado Springs, and outdoor attractions. The address is 3737 Red Canon Ave Unit 5, Colorado Springs, CO 80904.
Key Highlights
- Studio apartment with 1 bathroom
- Refrigerator, stove/oven, microwave, and dishwasher included
- Open‑concept floor plan with combined living and sleeping area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$4,248
Suggested Prices Based on Cap Rates
Cap Rate 5%
$84,960
$85.0K
Cap Rate 7%
$60,686
$60.7K
Cap Rate 9%
$47,200
$47.2K
Market Conditions
NOI Build-Up for 350 SF
Gross rent
$8.1K $23.28/SF
− Vacancy
−$424 −$1.21/SF
EGI
$7.7K $22.07/SF
− OpEx
−$3.5K −$9.93/SF
NOI
$4.2K $12.14/SF
Area
Colorado Springs, CO
Vacancy
5.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$84,960
Cap Rate 7%
$60,686
Cap Rate 9%
$47,200
Alternative Uses
Best Use
Apartment 5plus
$60.7K
$53.1K – $70.8K
NOI $4,248 @ 7.0% cap · market cap 435.69%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$69.1K
$60.5K – $80.6K
NOI $4,838 @ 7.0% cap · market cap 496.21%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
281
Businesses Nearby
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Business Placement
Demographics for 80904, CO
20,986
Population
11,578
Households
1.8
Avg Household Size
47
Median Age
45%
College-Educated
96%
High-School Grad
11.2 sq mi
ZIP Area
1,874
Density / Sq Mi
$69,566
Median Household Income
$44,494
Median Earnings
$1,417
Median Rent
$413,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Open-concept living with a functional kitchen equipped with refrigerator, stove/oven, microwave, and dishwasher.
Where is this residential income property located?
The property is located at 3737 Red Canon Ave Unit 5 Colorado Springs, CO.
What are key features of this property?
This property features: Studio apartment with 1 bathroom; Refrigerator, stove/oven, microwave, and dishwasher included; Open‑concept floor plan with combined living and sleeping area
