Renovated Quadplex with Private
For Sale
$649,900
Pending
4725 Picturesque Drive, Colorado Springs, CO 80917
Fully occupied multifamily property with updated interiors, on-site laundry, and access to the Powers Corridor.
Property Size3,672 SF
Days on Market8
Property Features for 4725 Picturesque Drive
General Information
Standard status
Pending
Size
3,672 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$2,353
Building Details
Year Built
1974
Listing Agency:
Falcon Property Company
(719) 460-7570
Listed By:
Mimi Foster Feith AHWD EPRO GRI MRP
(719) 460-7570
Source:
Exitrealty
Added: Aug 7
Changed: Aug 12
Last Checked: Aug 14 at 4:12AM
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 Falcon Property Company
Investment Insights
Based on property information with market context.
This four-unit residential income property was built in 1974 and has undergone renovations throughout. The configuration includes two 3-bedroom residences and two 2-bedroom residences. Interior improvements include luxury vinyl plank flooring, stainless steel appliances, and dishwashers. Upper-level homes receive abundant natural light, while the lower-level residences each include a private patio. On-site laundry and baseboard heating serve the property.
The property is located in the Village Seven area of Colorado Springs with access to the Powers Corridor. Shopping, dining, entertainment, schools, and major military establishments are within the surrounding area. The property is fully occupied and offered for sale as a multifamily asset.
The property is located in the Village Seven area of Colorado Springs with access to the Powers Corridor. Shopping, dining, entertainment, schools, and major military establishments are within the surrounding area. The property is fully occupied and offered for sale as a multifamily asset.
Key Highlights
- Four‑unit property with two 3‑bedroom units and two 2‑bedroom units
- Fully occupied residential income property
- Renovated interiors with luxury vinyl plank flooring and stainless steel appliances
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
$48,095
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
7.40%
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%
$961,900
$961.9K
Cap Rate 7%
$687,071
$687.1K
Cap Rate 9%
$534,389
$534.4K
Market Conditions
NOI Build-Up for 3,672 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
$72.7K $19.80/SF
− Vacancy
−$4.0K −$1.09/SF
EGI
$68.7K $18.71/SF
− OpEx
−$20.6K −$5.61/SF
NOI
$48.1K $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%
$961,900
Cap Rate 7%
$687,071
Cap Rate 9%
$534,389
Alternative Uses
Best Use
Multifamily LT 5
$687.1K
$601.2K – $801.6K
NOI $48,095 @ 7.0% cap · market cap 7.40%
Second Best
Apartment 5plus
$636.7K
$557.1K – $742.9K
NOI $44,571 @ 7.0% cap · market cap 6.86%
Theoretical Best
Specialty Retail
$725.2K
$634.5K – $846.0K
NOI $50,762 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
406
Businesses Nearby
Explore this area
Business Placement
Demographics for 80917, CO
30,513
Population
13,656
Households
2.2
Avg Household Size
37
Median Age
35%
College-Educated
94%
High-School Grad
5.6 sq mi
ZIP Area
5,449
Density / Sq Mi
$72,805
Median Household Income
$39,973
Median Earnings
$1,435
Median Rent
$353,100
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 - Fully occupied multifamily property with updated interiors, on-site laundry, and access to the Powers Corridor.
Where is this quadplex located?
The property is located at 4725 Picturesque Drive Colorado Springs, CO.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Four‑unit property with two 3‑bedroom units and two 2‑bedroom units; Fully occupied residential income property; Renovated interiors with luxury vinyl plank flooring and stainless steel appliances
