423 N 30th Street
Multifamily | 4 Units | $182,500/unit
Marketing description
423 N 30th Street is a well-located four-unit multifamily property positioned on the desirable west side of Colorado Springs, just minutes from the historic Old Colorado City corridor and major outdoor recreation amenities. Constructed in 1951, the approximately 2,999-square-foot building features four spacious two-bedroom units, providing an attractive housing option for renters seeking proximity to employment centers, outdoor recreation, and neighborhood retail.
The property benefits from strong rental demand driven by the region’s expanding population, military presence, and tourism economy. Colorado Springs continues to experience sustained economic growth supported by aerospace, defense, technology, and tourism sectors, along with a steady influx of new residents drawn by the area’s quality of life and outdoor amenities.
Located roughly one and a half miles from Garden of the Gods and minutes from downtown, the property offers tenants convenient access to recreation, dining, and employment centers while maintaining a quieter residential setting. The area’s strong fundamentals and limited multifamily inventory make this asset an attractive opportunity for investors seeking stable cash flow with long-term appreciation potential.
Investment highlights
Prime Westside Location: The property is situated in the desirable westside submarket of Colorado Springs near Old Colorado City, a vibrant district known for its historic charm, restaurants, galleries, and local retail. The location provides convenient access to downtown employment hubs, regional highways, and nearby outdoor attractions.
Attractive Unit Mix and Differentiated Offerings: The single level building features four two-bedroom units with private backyards and in-unit washer and dryers, a configuration that appeals to a broad tenant base including young professionals, small families, and roommates seeking affordability relative to single-family housing.
Outdoor Recreation & Lifestyle Amenities: Residents benefit from proximity to nationally recognized outdoor destinations including Garden of the Gods and the Pikes Peak region. Outdoor recreation and park systems are a major draw for residents and visitors and contribute significant economic value to the city’s quality of life and real estate demand.
Strong Regional Economy Colorado Springs has a diverse and growing economy anchored by aerospace, defense, military installations, tourism, and technology industries. The region hosts more than 200 aerospace and defense companies employing over 100,000 people, contributing billions annually to the local economy.
Population & Employer Growth: The city has experienced steady growth in employers and job opportunities, supporting continued housing demand and rental absorption across the market.
Tourism & Lifestyle Demand: Tourism remains one of the region’s largest industries, attracting millions of visitors annually and supporting local businesses, retail, and hospitality sectors.
Value-Add Potential: The vintage 1951 construction provides investors with opportunities to increase value through interior upgrades, operational efficiencies including billing back W/S/T expenses to tenants, or rent optimization while maintaining the property’s strong occupancy.
Off-Street Parking & Functional Layout: The property includes off-street parking, private fenced areas, and functional two-bedroom layouts with kitchen appliances, hardwood flooring, and washer/dryer hookups, features that enhance tenant convenience and retention.
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