Six-Unit Apartment
For Sale
$725,000
906 Teal Court 902, Colorado Springs, CO 80910
Apartment property with a varied unit mix and month-to-month leasing across all residences.
Property Size4,325 SF
Price / SF$167.63
Days on Market47
Property Features for 906 Teal Court 902
General Information
Standard status
Active
Size
4,325 SF
Property subtype
Commercial/Industrial
Site & Location
Neighborhood
Valley Hi
Units
Unit Mix
5 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$3,039
Building Details
Year Built
1967
Buildings
1
Tenancy
Multi
Listing Agency:
MODUS Real Estate
(303) 974-4717
Listed By:
Andrew Stephens · License #100098946
(720) 496-8868
Source:
Exitrealty
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 15 at 5:12AM
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 MODUS Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This apartment building contains six residences within 4,325 square feet, including five one-bedroom, one-bath units and one two-bedroom, one-bath unit. Constructed in 1967, the property includes a mix suited to both smaller and larger households. Several residents have remained in place for multiple years, providing established tenancy across the building.
All units are leased on a month-to-month basis, allowing ownership to address leasing and unit repositioning decisions without waiting for fixed lease expirations. Utilities are not currently billed back to residents, leaving an identifiable operating change for a future owner to evaluate. The property is located at 902-906 Teal Court in Colorado Springs, Colorado.
All units are leased on a month-to-month basis, allowing ownership to address leasing and unit repositioning decisions without waiting for fixed lease expirations. Utilities are not currently billed back to residents, leaving an identifiable operating change for a future owner to evaluate. The property is located at 902-906 Teal Court in Colorado Springs, Colorado.
Key Highlights
- Six‑unit apartment building with 4,325 square feet
- Unit mix includes five one‑bedroom units and one two‑bedroom unit
- All residences are leased on a month‑to‑month basis
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,498
Cap Rate
7.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,049,960
$1.0M
Cap Rate 7%
$749,971
$750.0K
Cap Rate 9%
$583,311
$583.3K
Market Conditions
NOI Build-Up for 4,325 SF
Gross rent
$100.7K $23.28/SF
− Vacancy
−$5.2K −$1.21/SF
EGI
$95.5K $22.07/SF
− OpEx
−$43.0K −$9.93/SF
NOI
$52.5K $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%
$1,049,960
Cap Rate 7%
$749,971
Cap Rate 9%
$583,311
Alternative Uses
Best Use
Apartment 5plus
$750.0K
$656.2K – $875.0K
NOI $52,498 @ 7.0% cap · market cap 7.24%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$854.1K
$747.4K – $996.5K
NOI $59,789 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
491
Businesses Nearby
Explore this area
Business Placement
Demographics for 80910, CO
30,991
Population
13,940
Households
2.2
Avg Household Size
32
Median Age
25%
College-Educated
89%
High-School Grad
6.1 sq mi
ZIP Area
5,080
Density / Sq Mi
$56,681
Median Household Income
$37,110
Median Earnings
$1,299
Median Rent
$276,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Apartment property with a varied unit mix and month-to-month leasing across all residences.
Where is this apartment building located?
The property is located at 906 Teal Court 902 Colorado Springs, CO.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Six‑unit apartment building with 4,325 square feet; Unit mix includes five one‑bedroom units and one two‑bedroom unit; All residences are leased on a month‑to‑month basis
