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490 E Elm St
Elizabeth, CO 80107

$1,000,000 USD

Apartments Condo For Sale • 728 SF

Property Details

Property Type Apartments
Total Building Size 5,200 SF
Lot Size 0.06 AC
Building Class C
Year Built 1973
Zoning R-3

0 Transit Score

54 Walk Score

1 Unit Available

Name	Condo Use	Size	Price	Details
1st Floor - Unit 101-204	Flex	728 SF	$1,000,000 USD
Unit Size: 728 SF Condo Use: Flex Price: $1,000,000 USD Sale Type: Investment Price/SF: $1,373.63 USD Sale Notes Please note that this is one listing that includes 8 units, which are each a legal separate condo unit.

Description

Fantastic investment opportunity with in-place management and a fully stabilized rent roll. This well-maintained 8-unitproperty features a balanced unit mix of four 1 Bedroom-1 Bath units, four 2 Bedroom-2 Bath units, coin operated washer and dryer. Property is right in town, appealing to a broad tenant base and supporting long-term occupancy stability. Ideally located just off S. Main Street, the property offers walkable access to local shops, restaurants, and a brewery -placing residents at the center of Elizabeth’s small-town charm and daily activity. The property backs directly to Running Creek Trail and overlooks Running Creek Park, home to the popular Friday Night Market and summer concert series. Tenants enjoy immediate access to open space, community events, and one of the town’s most vibrant gathering places -an amenity that supports strong, long-term rental demand. Elizabeth’s multifamily market remains limited, with just under600 total apartment units county-wide, creating a meaningful supply constraint within a growing population base. Strategically positioned just 25 minutes to Castle Rock and Parker, 40 minutes to the Denver Tech Center, and under an hour to Colorado Springs, this location offers attainable rental housing with convenient regional access. This asset provides a true turnkey investment for both seasoned and first-time multifamily investors. Strong unit mix, stabilized operations, and irreplaceable location fundamentals make this an ideal long-term hold. Contact listing agent for financials and additional details.

Property Flyers

Floorplan for #102

Floorplan for #204

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	19
Type:	Surface
Included in Rent:	Yes

Sarah Humbargar 719-453-1817 Shift Real Estate LLC

490 E Elm St Elizabeth, CO 80107