Four-Unit Quadplex with
For Sale
$795,000
455 W Van Buren St, Colorado Springs, CO 80907
Three units are occupied, while the fourth offers central air and recent updates.
Property Size3,712 SF
Price / SF$214.17
Days on Market107
Property Features for 455 W Van Buren St
General Information
Standard status
Active
Size
3,712 SF
Property subtype
Residential Income
Occupancy
75%
Additional Details
Utilities to Site
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$2,511
Amenities
coin-operated laundry area
fireplaces
locked storage closet
central air
Building Details
Tenancy
Multi
Listing Agency:
Colorado Rocky Homes
(719) 301-9448
Listed By:
Melissa Lopes
Source:
Exprealty
Added: May 9
Changed: Aug 22
Last Checked: Aug 22 at 3:42AM
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 Colorado Rocky Homes
Investment Insights
Based on property information with market context.
This four-unit residential income property at 455 W Van Buren St includes 3,712 square feet and four separate furnaces and water heaters. The currently vacant unit has central air and additional updates, while recent exterior paint, LVP flooring, and fireplaces in every unit contribute to the property’s current condition. Each residence also has a locked storage closet, and some bedrooms retain carpet flooring.
Three of the four units are tenant occupied. Residents pay their own gas and electric, while the owner-controlled coin-operated laundry area has a dedicated water heater. The property is situated in a mature, tree-lined neighborhood near Penrose Hospital, parks, schools, and the Santa Fe Regional Trail.
Three of the four units are tenant occupied. Residents pay their own gas and electric, while the owner-controlled coin-operated laundry area has a dedicated water heater. The property is situated in a mature, tree-lined neighborhood near Penrose Hospital, parks, schools, and the Santa Fe Regional Trail.
Key Highlights
- 3 of 4 units are tenant occupied
- 3,712‑square‑foot four‑unit property
- Vacant unit includes central air and additional updates
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
$48,619
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
6.12%
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%
$972,380
$972.4K
Cap Rate 7%
$694,557
$694.6K
Cap Rate 9%
$540,211
$540.2K
Market Conditions
NOI Build-Up for 3,712 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
$73.5K $19.80/SF
− Vacancy
−$4.0K −$1.09/SF
EGI
$69.5K $18.71/SF
− OpEx
−$20.8K −$5.61/SF
NOI
$48.6K $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 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%
$972,380
Cap Rate 7%
$694,557
Cap Rate 9%
$540,211
Alternative Uses
Best Use
Multifamily LT 5
$694.6K
$607.7K – $810.3K
NOI $48,619 @ 7.0% cap · market cap 6.12%
Second Best
Apartment 5plus
$643.7K
$563.2K – $751.0K
NOI $45,057 @ 7.0% cap · market cap 5.67%
Theoretical Best
Specialty Retail
$733.1K
$641.4K – $855.3K
NOI $51,315 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
75%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,148
Businesses Nearby
Explore this area
Business Placement
Demographics for 80907, CO
28,806
Population
13,250
Households
2.2
Avg Household Size
40
Median Age
40%
College-Educated
93%
High-School Grad
9.8 sq mi
ZIP Area
2,939
Density / Sq Mi
$71,393
Median Household Income
$41,355
Median Earnings
$1,392
Median Rent
$371,200
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 - Three units are occupied, while the fourth offers central air and recent updates.
Where is this quadplex located?
The property is located at 455 W Van Buren St Colorado Springs, CO.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 3 of 4 units are tenant occupied; 3,712‑square‑foot four‑unit property; Vacant unit includes central air and additional updates
