Fourplex with Updated
For Sale
$565,000
4060 Airport Road, Colorado Springs, CO 80910
Four two-bedroom apartments offer a mix of occupied and available units for rental use.
Property Size3,008 SF
Price / SF$187.83
Days on Market122
Property Features for 4060 Airport Road
General Information
Standard status
Active
Size
3,008 SF
Property subtype
Quadruplex
Site & Location
Neighborhood
Eastborough
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$2,038
Building Details
Building Size
3,008 SF
Year Built
1971
Listing Agency:
HomeSmart
Listed By:
Raphael Shattenkirk
(303) 877-3852
Source:
Pinkrentals
Added: Jul 2
Changed: Oct 31
Last Checked: Oct 31 at 3:15AM
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 HomeSmart
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Investment Insights
Based on property information with market context.
This 3,008-square-foot fourplex contains four apartments, each with two bedrooms and one bathroom. Units have received recent updates, and the roof was replaced within the last year. The property was built in 1971, with major building systems described as being in good condition.
Two apartments are occupied. Recent leasing activity has been recorded, while two units remain available for occupancy. The property is at 4060 Airport Road in Colorado Springs, with access to shopping, employment centers, schools, and major transportation routes.
Two apartments are occupied. Recent leasing activity has been recorded, while two units remain available for occupancy. The property is at 4060 Airport Road in Colorado Springs, with access to shopping, employment centers, schools, and major transportation routes.
Key Highlights
- Four units, each with 2 bedrooms and 1 bathroom
- 3,008 square feet; built in 1971
- Two units currently occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,398
Cap Rate
6.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$787,960
$788.0K
Cap Rate 7%
$562,829
$562.8K
Cap Rate 9%
$437,756
$437.8K
Market Conditions
NOI Build-Up for 3,008 SF
Gross rent
$59.6K $19.80/SF
− Vacancy
−$3.3K −$1.09/SF
EGI
$56.3K $18.71/SF
− OpEx
−$16.9K −$5.61/SF
NOI
$39.4K $13.10/SF
Area
Colorado Springs, CO
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$787,960
Cap Rate 7%
$562,829
Cap Rate 9%
$437,756
Alternative Uses
Best Use
Multifamily LT 5
$562.8K
$492.5K – $656.6K
NOI $39,398 @ 7.0% cap · market cap 6.97%
Second Best
Apartment 5plus
$521.6K
$456.4K – $608.5K
NOI $36,512 @ 7.0% cap · market cap 6.46%
Theoretical Best
Specialty Retail
$594.0K
$519.8K – $693.1K
NOI $41,583 @ 7.0% cap · market cap 7.36%
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
558
Businesses Nearby
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Business Placement
Demographics for 80910, CO
30,991
Population
13,940
Households
2.2
Avg Household Size
32
Median Age
25%
College-Educated
89%
High-School Grad
6.1 sq mi
ZIP Area
5,080
Density / Sq Mi
$56,681
Median Household Income
$37,110
Median Earnings
$1,299
Median Rent
$276,900
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 two-bedroom apartments offer a mix of occupied and available units for rental use.
Where is this quadplex located?
The property is located at 4060 Airport Road Colorado Springs, CO.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Four units, each with 2 bedrooms and 1 bathroom; 3,008 square feet; built in 1971; Two units currently occupied
