33 University Drive is a well-positioned 4-unit multifamily asset located in the Southeast Colorado Springs submarket. This investment offers investors a balance of in-place cash flow paired with recent renovation upside. Originally constructed in 1969 and renovated in 2021, the property consists of 3,111 square feet across four units, all configured as 2-bedroom, 1-bath layouts. The asset benefits from affordable rent positioning relative to the broader Colorado Springs market, strong tenant demand, and proximity to major retail, convenience & employment corridors. With continued population growth and rental demand in Colorado Springs, the property presents an opportunity for stable income with long-term appreciation potential.
For sale
$670,000
33 University Drive, Colorado Springs, CO 80910
8beds
4baths
3,111sqft
Quadruplex
Built in 1969
-- sqft lot
$-- Zestimate®
$215/sqft
$-- HOA
What's special
- 193 days
- 51
- 1
Zillow last checked:
Listing updated:
Listed by:
Lee Wagner 417-459-2155 lee.wagner@cushwake.com,
Cushman & Wakefield,
Lee Wagner 417-459-2155,
Cushman & Wakefield
Source: REcolorado as distributed by MLS GRID,MLS#: 3703452
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 4
Heating
- Forced Air
Cooling
- None
Appliances
- Laundry: In Unit
Features
- Basement: Unfinished
- Common walls with other units/homes: 2+ Common Walls
Interior area
- Total structure area: 3,111
- Total interior livable area: 3,111 sqft
- Finished area above ground: 3,111
- Finished area below ground: 0
Video & virtual tour
Property
Parking
- Total spaces: 8
- Details: Off Street Spaces: 8
Features
- Levels: One
- Stories: 1
Details
- Parcel number: 6415401050
- Zoning: R5 AO
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex
- Attached to another structure: Yes
Materials
- Brick, Concrete
- Roof: Membrane,Rolled/Hot Mop
Condition
- Year built: 1969
Utilities & green energy
- Sewer: Public Sewer
Community & HOA
Community
- Subdivision: Colorado Springs
HOA
- Has HOA: No
Location
- Region: Colorado Springs
Financial & listing details
- Price per square foot: $215/sqft
- Tax assessed value: $630,000
- Annual tax amount: $1,408
- Date on market: 4/16/2026
- Listing terms: 1031 Exchange,Cash,Conventional
- Exclusions: All Tenant(S) Personal Property.
- Ownership: Individual
- Tenant pays: Electricity
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 10/21/2026 | Listed for sale | $670,000-2.9%$215/sqft |
Source:  REcolorado as distributed by MLS GRID #3703452 Report a problem | ||
| 4/16/2026 | Listed for sale | $690,000+46.8%$222/sqft |
Source: REcolorado as distributed by MLS GRID #3703452 Report a problem | ||
| 9/28/2022 | Listing removed | -- |
Source: Zillow Rental Network Premium_1 Report a problem | ||
| 9/10/2022 | Listed for rent | $1,200 |
Source: Zillow Rental Network Premium_1 Report a problem | ||
| 3/26/2021 | Sold | $470,000+176.5%$151/sqft |
Source: Public Record Report a problem | ||
| 4/19/2004 | Sold | $170,000-24.2%$55/sqft |
Source: Public Record Report a problem | ||
| 6/21/2002 | Sold | $224,400+50.1%$72/sqft |
Source: Public Record Report a problem | ||
| 2/9/1998 | Sold | $149,500+22.5%$48/sqft |
Source: Public Record Report a problem | ||
| 1/10/1997 | Sold | $122,000$39/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,747 -49.5% | $44,410 +26% |
| 2024 | $3,457 +145.6% | $35,240 |
| 2023 | $1,408 -9.8% | $35,240 +40.1% |
| 2022 | $1,561 | $25,160 -4.9% |
| 2021 | -- | $26,450 +30% |
| 2020 | $1,810 +31.8% | $20,350 |
| 2019 | $1,374 +15.7% | $20,350 +19.1% |
| 2018 | $1,187 -5.3% | $17,080 |
| 2017 | $1,253 +5.6% | $17,080 +4.1% |
| 2016 | $1,187 +24.8% | $16,410 |
| 2015 | $951 +20.4% | $16,410 +25% |
| 2014 | $790 | $13,130 |
| 2013 | -- | -- |
| 2012 | -- | $13,130 |
| 2011 | $1,034 | $13,130 -25.1% |
| 2010 | -- | $17,520 |
| 2009 | -- | $17,520 |
| 2008 | -- | $17,520 |
| 2006 | -- | $17,520 -2.8% |
| 2004 | -- | $18,020 |
| 2003 | $898 +3.7% | $18,020 +14.2% |
| 2002 | $865 +6.5% | $15,780 +12.7% |
| 2001 | $813 | $14,000 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: Southeast Colorado Springs
Nearby schools
Schools provided by the listing agent
- Elementary: Monroe
- Middle: Holmes
- High: Doherty
- District: Colorado Springs 11
Source: REcolorado as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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