Stabilized Multifamily Investment
490 E Elm Street, Elizabeth, CO 80107
Well-maintained 8-unit property with strong rental demand in Elizabeth, CO.
Property size:
5,200 SFLot size:
0.43 AcresPrice / SF:
$192/SF- Added:
- Mar 9, 2026
- Days on Market:
- 62
- Last Refresh:
- Mar 16 at 11:01 am
Property Features for 490 E Elm Street
General Information
- Standard status
- Active
- Size
- 5,200 SF
- Lot size
- 0.43 Acres
Building Details
- Year Built
- 1973
Listing agent SARAH HUMBARGAR
Listing office SHIFT REAL ESTATE LLC (303) 794-8900
Listing date Mar 9, 2026
Source Corcoran
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 SHIFT REAL ESTATE LLC
HighLights
- Fully stabilized 8‑unit property with in‑place management, offering a turnkey investment.
- Ideally located off S. Main Street with walkable access to shops, restaurants, and a brewery.
- Backs directly to Running Creek Trail and overlooks Running Creek Park, providing access to open space and community events.
- Limited multifamily market in Elizabeth creates a supply constraint and supports long‑term rental demand.
- Balanced unit mix of four 1 Bedroom‑1 Bath and four 2 Bedroom‑2 Bath units.
- Convenient regional access: 25 minutes to Castle Rock and Parker, 40 minutes to the Denver Tech Center, and under an hour to Colorado Springs.
Overview
This well-maintained 8-unit multifamily property presents an investment opportunity with in-place management and a fully stabilized rent roll. The property features a balanced unit mix of four 1 Bedroom-1 Bath units and four 2 Bedroom-2 Bath units, along with a coin-operated washer and dryer. Situated just off S. Main Street, the property offers walkable access to local shops, restaurants, and a brewery. The location provides residents with access to Elizabeth’s small-town amenities and daily activities. The property backs directly to Running Creek Trail and overlooks Running Creek Park, which hosts the Friday Night Market and summer concert series. This provides tenants with immediate access to open space, community events, and a vibrant gathering place. Elizabeth’s multifamily market is limited, with just under 600 total apartment units county-wide. The property is located 25 minutes from Castle Rock and Parker, 40 minutes from the Denver Tech Center, and under an hour from Colorado Springs. The building size is 5200 square feet.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Elizabeth
- County
- Elbert
- State
- Colorado
- Longitude
- -104.5946045
- Latitude
- 39.3600669
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Well-maintained 8-unit property with strong rental demand in Elizabeth, CO.
Where is this apartment building located?
The property is located at 490 E Elm Street Elizabeth, CO.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Fully stabilized 8‑unit property with in‑place management, offering a turnkey investment.; Ideally located off S. Main Street with walkable access to shops, restaurants, and a brewery.; Backs directly to Running Creek Trail and overlooks Running Creek Park, providing access to open space and community events.
