4310 Loomis Ave, Colorado Springs, CO 80906

Property Description

Cash flow meets Colorado charm at 4310 Loomis Ave, Colorado Springs, CO 80906. This 10-bed, 4-bath fourplex in unincorporated El Paso County is a versatile income-producing asset with multiple exit strategies. Two 3-bedroom units and two 2-bedroom units provide a strong, efficient layout. Previously operated as successful short-term rentals, the property can remain STR or convert to long-term rentals. Currently, 3 of 4 units are month-to-month, allowing immediate repositioning and rent optimization. Built in 1972, the property features solid construction and functional layouts with predictable maintenance and strong tenant appeal. Current income is $5,400/month ($64,800/year) supporting an estimated ~9.8% in-place cap rate. One 3-bedroom unit is vacant and STR-ready, offering immediate upside. Projected income is $8,400+/month ($100,800/year) supporting an estimated ~15%+ stabilized cap rate through rent increases, lease-up of the vacant unit, and correction of below-market rents. Additional NOI upside exists through utility bill-back, laundry income, and operational efficiencies. Value-add is a key driver as utilities and WiFi are currently owner-paid, and shifting this to tenants increases NOI immediately, with additional upside from coin-operated laundry and operational improvements. The oversized lot allows for additional parking or future expansion, while seasonal demand supports strong STR performance and occupancy. Location is key—minutes from Broadmoor World Arena, Cheyenne Mountain State Park, and central Colorado Springs, with strong tenant demand from employers and military bases. To respect tenant privacy, all units will be available only during Open House Saturday 4/25 from 1–3 PM and during scheduled inspections, with individual showings limited to Unit 2 (vacant 3BR only). Bottom line: cash flow now, upside tomorrow—flexible asset with clear execution path.