Studio Residential Income
For Sale
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3737 Red Canon Ave Unit 8, Colorado Springs, CO 80904
Open-plan studio with kitchen appliances, air conditioning, and shared laundry.
Property Size350 SF
Price / SF$2.71
Days on Market28
Property Features for 3737 Red Canon Ave Unit 8
General Information
Standard status
Active
Size
350 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x Studio/1BA
Multifamily Units
1
Amenities
Air conditioning
On-site laundry
Refrigerator
Stove/Oven
Microwave
Garbage disposal
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 18
Changed: Oct 10
Last Checked: Oct 7 at 2:05PM
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 350-square-foot studio apartment includes one bathroom and an efficient open-concept layout that combines living and sleeping areas. The unit has a functional kitchen with cabinet and counter space, along with a refrigerator, stove/oven, microwave, and garbage disposal. Air conditioning and shared on-site laundry add practical amenities, while natural light contributes to the interior setting. Built in 1955, the property is located at 3737 Red Canon Ave Unit 8 in Colorado Springs.
The residence sits on Colorado Springs’ west side, with Old Colorado City, Downtown Colorado Springs, and nearby outdoor destinations described as just minutes away. The property offers a compact apartment configuration with essential appliances, shared laundry, and a single bathroom.
The residence sits on Colorado Springs’ west side, with Old Colorado City, Downtown Colorado Springs, and nearby outdoor destinations described as just minutes away. The property offers a compact apartment configuration with essential appliances, shared laundry, and a single bathroom.
Key Highlights
- 350 square feet with an efficient open‑concept studio layout
- One bathroom and bright combined living and sleeping area
- Kitchen includes refrigerator, stove/oven, microwave, and garbage disposal
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 447.16%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$69.1K
$60.5K – $80.6K
NOI $4,838 @ 7.0% cap · market cap 509.26%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
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-plan studio with kitchen appliances, air conditioning, and shared laundry.
Where is this residential income property located?
The property is located at 3737 Red Canon Ave Unit 8 Colorado Springs, CO.
What are key features of this property?
This property features: 350 square feet with an efficient open‑concept studio layout; One bathroom and bright combined living and sleeping area; Kitchen includes refrigerator, stove/oven, microwave, and garbage disposal
