Multifamily Assets in Colorado
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908-910 W Colorado Ave, Colorado Springs, CO 80905
Side-by-side multifamily assets in a desirable Colorado Springs location.
Property Size5,038 SF
Price / SF$277.89
Days on Market159
Property Features for 908-910 W Colorado Ave
General Information
Standard status
Active
Size
5,038 SF
Class
B
Property subtype
Multifamily
Zoning
MX-M
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$90,483
Building Details
Year Built
1899
Year Renovated
2025
Buildings
3
Units
5
Listing Agency:
Cushman & Wakefield - Denver, Colorado
(417) 459-2155
Listed By:
Lee Wagner · License #CO 100084704
Source:
Crexi
Added: Mar 6
Changed: Aug 8
Last Checked: Aug 10 at 4:11PM
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 Cushman & Wakefield - Denver, Colorado
Investment Insights
Based on property information with market context.
The properties at 908 and 910 W Colorado Avenue offer a chance to acquire adjacent multifamily assets in a desirable area of Colorado Springs' west side. Situated along the West Colorado corridor, between Downtown and Old Colorado City, the location benefits from strong rental demand due to walkability, local retail, dining options, and convenient access to I-25 and Highway 24. The combined properties offer immediate scale and operational efficiency across five total units, but can also be purchased individually. The property at 908 W Colorado features a remodeled three-bedroom, two-bath main house and a detached one-bedroom cottage. Renovations completed within the past two years provide modern finishes. Tenants are responsible for their own utilities. The property at 910 W Colorado is a renovated triplex with one 3BD/1BA unit, one 2BD/1BA unit, and one 1BD/1BA unit. Strong rents are in place. The property's renovation and layout position it well for stable long-term performance in a high-demand rental corridor. The combined property size is 5038 square feet.
Key Highlights
- Rare opportunity to acquire side‑by‑side multifamily assets in a desirable location.
- Located in a high‑demand rental corridor with walkability and easy access to major highways.
- 908 W Colorado: Fully remodeled three‑bedroom house and one‑bedroom cottage with modern finishes.**
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
$65,986
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
4.71%
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%
$1,319,720
$1.3M
Cap Rate 7%
$942,657
$942.7K
Cap Rate 9%
$733,178
$733.2K
Market Conditions
NOI Build-Up for 5,038 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
$99.8K $19.80/SF
− Vacancy
−$5.5K −$1.09/SF
EGI
$94.3K $18.71/SF
− OpEx
−$28.3K −$5.61/SF
NOI
$66.0K $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%
$1,319,720
Cap Rate 7%
$942,657
Cap Rate 9%
$733,178
Alternative Uses
Best Use
Multifamily LT 5
$942.7K
$824.8K – $1.10M
NOI $65,986 @ 7.0% cap · market cap 4.71%
Second Best
Apartment 5plus
$873.6K
$764.4K – $1.02M
NOI $61,152 @ 7.0% cap · market cap 4.37%
Theoretical Best
Specialty Retail
$994.9K
$870.6K – $1.16M
NOI $69,645 @ 7.0% cap · market cap 4.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,208
Businesses Nearby
Explore this area
Business Placement
Demographics for 80905, CO
17,592
Population
8,933
Households
2
Avg Household Size
38
Median Age
39%
College-Educated
92%
High-School Grad
5.1 sq mi
ZIP Area
3,449
Density / Sq Mi
$64,496
Median Household Income
$40,876
Median Earnings
$1,449
Median Rent
$349,500
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?
Multifamily property - Side-by-side multifamily assets in a desirable Colorado Springs location.
Where is this multifamily property located?
The property is located at 908-910 W Colorado Ave Colorado Springs, CO.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Rare opportunity to acquire side‑by‑side multifamily assets in a desirable location.; Located in a high‑demand rental corridor with walkability and easy access to major highways.; 908 W Colorado: Fully remodeled three‑bedroom house and one‑bedroom cottage with modern finishes.**
