490 E Elm ST, Elizabeth, CO 80107
490 E Elm ST, Elizabeth, CO 80107
490 E Elm ST, Elizabeth, CO 80107
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$1,000,000
Est. payment /mo
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5,200 SqFt
Pending

490 E Elm ST Elizabeth, CO 80107

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Gary Davis

Gary Davis

+1(303) 910-7826

UPDATED:

Key Details

Property Type Commercial

Sub Type Multi Family

Listing Status Pending

Purchase Type For Sale

Square Footage 5,200 sqft

Price per Sqft $192

MLS Listing ID 2503097

HOA Y/N No

Year Built 1973

Annual Tax Amount $6,593

Tax Year 2025

Lot Size 0.432 Acres

Acres 0.43

Property Sub-Type Multi Family

Source recolorado

Property Description

Fantastic investment opportunity with in-place management and a fully stabilized rent roll. This well-maintained 8-unit property 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 under 600 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.

Location

State CO

County Elbert

Zoning R-3

Interior

Fireplace N

Exterior

Exterior Feature Lighting

Parking Features Asphalt

Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected

Roof Type Composition

Total Parking Spaces 19

Garage No

Building

Lot Description Greenbelt

Sewer Public Sewer

Water Public

Structure Type Frame,Wood Siding

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition None

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REColorado (REColorado MLS)
© 2026 METROLIST, INC., DBA RECOLORADO® – All Rights Reserved
6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
Listed by Shift Real Estate LLC

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Gary Davis

Gary Davis

Broker Associate | License ID: 317958

+1(303) 910-7826

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490 E Elm ST