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490 E Elm St 8 Unit Apartment Building $1,000,000 ($125,000/Unit) 7.71% Cap Rate Elizabeth, CO 80107
Investment Highlights
- Eight units in a growing, supply constrained market - zero guesswork.
Executive Summary
Data Room Click Here to Access
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,000,000 | Apartment Style | Low-Rise |
| Price Per Unit | $125,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 7.71% | Building Size | 5,200 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1973 |
| Property Subtype | Apartment | Parking Ratio | 3.65/1,000 SF |
| Zoning | R-3 | ||
| Price | $1,000,000 |
| Price Per Unit | $125,000 |
| Sale Type | Investment |
| Cap Rate | 7.71% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 5,200 SF |
| No. Stories | 2 |
| Year Built | 1973 |
| Parking Ratio | 3.65/1,000 SF |
| Zoning | R-3 |
About 490 E ELM ST , ELIZABETH, CO 80107
This fully stabilized, professionally managed 8-unit property in Elizabeth, CO delivers stable cash flow from day one . Four 1 bed/1 bath and four 2 bed/2 bath units, coin-operated laundry on-site, and a seasoned management team already in place make this an ideal first investment or a clean addition to a growing portfolio. The location does the heavy lifting on tenant demand. Situated just off S. Main Street in Elizabeth's quaint downtown area, residents enjoy walkable access to local shops, restaurants, and a brewery - the kind of everyday convenience that keeps units filled. The property backs directly to Running Creek Trail and overlooks Running Creek Park, home to the Friday Night Market and summer concert series. When tenants have parks, trails, and community events out the back door, renewals follow. Elizabeth's rental market is structurally undersupplied — fewer than 600 total apartment units county-wide — in a county that continues to grow. With Castle Rock and Parker 25 minutes away, the Denver Tech Center within 40 minutes, and Colorado Springs under an hour, this is attainable housing in a commuter-friendly corridor. That combination of limited supply and regional connectivity is what creates durable occupancy over time. For an investor entering the multifamily space, the hardest part of ownership is the unknowns. This property removes most of them: stabilized rent roll, professional management, and a location with real long-term fundamentals.
Property Taxes
| Parcel Number | R108666 | Total Assessment | $7,600 (2025) |
| Land Assessment | $860 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $6,740 (2025) | Tax Year | 2026 |
Property Taxes
Presented by
Shift Real Estate LLC
490 E Elm St
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