5-Unit Apartment Building with
New
For Sale
$950,000
514 N Wahsatch Avenue, Colorado Springs, CO 80903
Each residence has a garage, with additional off-street parking available on the property.
Property Size3,817 SF
Price / SF$248.89
Days on Market2
Property Features for 514 N Wahsatch Avenue
General Information
Standard status
Active
Size
3,817 SF
Property subtype
Income
Site & Location
Neighborhood
Downtown
Additional Details
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$4,500
Amenities
low maintenance zero scape landscaping
Partial Basement
Electric Hook-up
Paved
Front
9500.0
Municipal
0.2181
Building Details
Year Built
1899
Listing Agency:
REMAX PROPERTIES
(719) 337-1448
Listed By:
Mark Jones · License #FA40025962
(678) 677-6034
Source:
Markjoneshomes
Added: Oct 29
Last Checked: Oct 29 at 2:42PM
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 REMAX PROPERTIES
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Investment Insights
Based on property information with market context.
This five-unit apartment property measures 3,817 square feet and dates to 1899. A garage serves each unit, and the site also provides additional off-street parking. Low-maintenance xeriscaping is part of the exterior setting.
The property is within walking distance of Downtown Colorado Springs and Colorado College. Interior features include a partial basement and an electric hook-up.
The property is within walking distance of Downtown Colorado Springs and Colorado College. Interior features include a partial basement and an electric hook-up.
Key Highlights
- Five‑unit apartment property with 3,817 square feet
- Each unit has its own garage
- Additional off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,331
Cap Rate
4.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$926,620
$926.6K
Cap Rate 7%
$661,871
$661.9K
Cap Rate 9%
$514,789
$514.8K
Market Conditions
NOI Build-Up for 3,817 SF
Gross rent
$88.9K $23.28/SF
− Vacancy
−$4.6K −$1.21/SF
EGI
$84.2K $22.07/SF
− OpEx
−$37.9K −$9.93/SF
NOI
$46.3K $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%
$926,620
Cap Rate 7%
$661,871
Cap Rate 9%
$514,789
Alternative Uses
Best Use
Apartment 5plus
$661.9K
$579.1K – $772.2K
NOI $46,331 @ 7.0% cap · market cap 4.88%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$753.8K
$659.6K – $879.4K
NOI $52,766 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
3,152
Businesses Nearby
Explore this area
Business Placement
Demographics for 80903, CO
15,944
Population
8,340
Households
1.9
Avg Household Size
34
Median Age
39%
College-Educated
95%
High-School Grad
5.4 sq mi
ZIP Area
2,953
Density / Sq Mi
$59,292
Median Household Income
$35,251
Median Earnings
$1,221
Median Rent
$420,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Each residence has a garage, with additional off-street parking available on the property.
Where is this apartment building located?
The property is located at 514 N Wahsatch Avenue Colorado Springs, CO.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Five‑unit apartment property with 3,817 square feet; Each unit has its own garage; Additional off‑street parking
