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Property profile & analytics
OFF-MARKET
Estimated value
$14,785,000
High-rise multifamily apartments
603 Cascade Ave Colorado Springs, CO 80903
Entity Owned
4-yr Hold
Absentee Owner
Property ID
US13-1680329
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
2020
Construction
CONCRETE
Total area
256,097 SF
Lot
1.26 ac (54,886 SF)
Zoning code
FBZ-T1
APN
6418326015
UPID
US13-1680329
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$14.79M
Owner & transaction history
609 S Cascade LLC · 4 yrs held
609 S Cascade LLC
since 2021
1 recorded transaction
Zoning & alternative use
FBZ-T1 · Colorado Springs, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
$20
Zone name
Form Based Transition Sector 1
General category
UNKNOWN
Zone area
127.46 ac
Source
Realmo
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Colorado Springs submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Colorado Springs submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$58 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Assessed value
$3,794,580
Assessed 2023
Previous assessed
$3,794,580
+0.0% YoY
Assessed land
$61,780
Assessed improvement
$3,732,800
Land market value
$922,068
Improvement market value
$55,713,463
Total market value
$56,635,531
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
2020
Construction
CONCRETE
Heating
FORCED AIR
Cooling
YES
Stories
7
Units
178
Total area
256,097 SF
Lot
1.26 ac (54,886 SF)
Zoning code
FBZ-T1
APN
6418326015
UPID
US13-1680329
Jurisdiction
EL PASO
Zoning & alternative use
FBZ-T1 · Colorado Springs, COZoning FBZ-T1 · permitted uses
FBZ-T1 · Colorado Springs, CO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
$20
Zone name
Form Based Transition Sector 1
General category
UNKNOWN
Zone area
127.46 ac
Source
Realmo
Building & site characteristics
From public records
Year built
2020
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
7
Units
178
Lot
1.26 ac
Current owner
From public records · entity-resolved
609 S Cascade LLC
Entity
Mailing address
111 S TEJON ST STE #222, COLORADO SPRINGS, CO 80903-2246
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 16, 2021
—
609 S Cascade LLC
—
Deed
related
$500,000 · The Northwest Mutual Life Insurance
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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