Fourplex With Seven Garage
For Sale
$774,900
5535 Tomah Drive, Colorado Springs, CO 80918
Four two-story units include private attached garages and in-unit laundry hookups.
Property Size3,348 SF
Price / SF$231.45
Days on Market64
Property Features for 5535 Tomah Drive
General Information
Standard status
Active
Size
3,348 SF
Total Parking Spaces
7
Property subtype
Multi Family
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$2,720
Amenities
in-unit laundry hookups
Building Details
Year Built
1973
Listing Agency:
House Hunters, LLC
(719) 472-4349
Listed By:
Denae Howell · License #100088622
(719) 323-1442
Source:
Exitrealty
Added: Aug 14
Changed: Oct 3
Last Checked: Oct 7 at 11:25AM
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 House Hunters, LLC
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Investment Insights
Based on property information with market context.
Built in 1973, this fourplex contains four residential units of approximately 850 square feet each. Every unit has two bedrooms, one full bathroom, full-size laundry hookups, and a private attached one-car garage. The two-story layouts include separate living and dining areas, kitchens, and bedrooms and bathrooms on the upper level. A detached three-car garage adds additional enclosed space, bringing the property total to seven garage spaces. No HOA is reported, and a new roof is scheduled for installation before closing.
The property is located in Colorado Springs, CO 80918, with access to Academy Blvd and Austin Bluffs Pkwy. UCCS, shopping, dining, employment centers, and major commuter routes are identified nearby. Front-facing mountain views are available from each unit, while the surrounding area has a 70 Walk Score, 50 Bike Score, and 34 Transit Score.
The property is located in Colorado Springs, CO 80918, with access to Academy Blvd and Austin Bluffs Pkwy. UCCS, shopping, dining, employment centers, and major commuter routes are identified nearby. Front-facing mountain views are available from each unit, while the surrounding area has a 70 Walk Score, 50 Bike Score, and 34 Transit Score.
Key Highlights
- Four units, each approximately 850 sq ft with 2 bedrooms and 1 full bath
- Seven total garage spaces: four attached one‑car garages and one detached 3‑car garage
- Two‑story unit layouts with separate living and dining areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,990
Cap Rate
5.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$879,800
$879.8K
Cap Rate 7%
$628,429
$628.4K
Cap Rate 9%
$488,778
$488.8K
Market Conditions
NOI Build-Up for 3,348 SF
Gross rent
$66.3K $19.80/SF
− Vacancy
−$3.4K −$1.03/SF
EGI
$62.8K $18.77/SF
− OpEx
−$18.9K −$5.63/SF
NOI
$44.0K $13.14/SF
Area
ZIP 80918
Vacancy
5.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$879,800
Cap Rate 7%
$628,429
Cap Rate 9%
$488,778
Alternative Uses
Best Use
Multifamily LT 5
$628.4K
$549.9K – $733.2K
NOI $43,990 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$581.8K
$509.1K – $678.7K
NOI $40,724 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$855.7K
$748.8K – $998.3K
NOI $59,900 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,090
Businesses Nearby
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Business Placement
Demographics for 80918, CO
47,453
Population
20,447
Households
2.3
Avg Household Size
37
Median Age
38%
College-Educated
95%
High-School Grad
12.0 sq mi
ZIP Area
3,954
Density / Sq Mi
$82,743
Median Household Income
$42,596
Median Earnings
$1,572
Median Rent
$414,400
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-story units include private attached garages and in-unit laundry hookups.
Where is this quadplex located?
The property is located at 5535 Tomah Drive Colorado Springs, CO.
What is the asking price?
The asking price for this property is $774,900.
What are key features of this property?
This property features: Four units, each approximately 850 sq ft with 2 bedrooms and 1 full bath; Seven total garage spaces: four attached one‑car garages and one detached 3‑car garage; Two‑story unit layouts with separate living and dining areas
