490 E Elm Street Elizabeth, CO ^$ 1,000,000

490 E Elm Street

^$ 1,000,000

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Recently Listed

490 E Elm Street

Elizabeth, CO, 80107

^$ 1,000,000

Bedrooms-- Baths-- Sq 5,200

Monthly Estimate*

^$ 6,157

Listed by Shift Real Estate LLC

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Commercial Property for sale in Elizabeth, CO

for $1,000,000. This 5,200 square foot building was built in 1973 on a lot size of 0.43.

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.

Commercial Active

Price

^$ 1,000,000

Property Type

Commercial

Taxes

^$ 6,593

Style

Low Rise (1-3)

Lot Size

0.43

Year Built

1973

Town/City

Elizabeth

County/Region

Elbert

MLS | Web ID

2503097

Features

General

Sewer Public Sewer

Utilities Cable Available Electricity Connected Natural Gas Connected Sewer Connected

Roof Composition

Zoning R-3

Garage Spaces 0

Security Features Smoke Detector(s)

Construction Materials Frame Wood Siding

Exclusions Tenant's personal items.

Year Built 1973

Tenant Pays Cable TV Electricity Internet

Stories Count 2

Property Subtype Multi Family

Tax Year 2025

Current Use Commercial

Gross Income 129027

County Elbert

Operating Expense 45428

Property Type Commercial Sale

Attached Garage N

Building Features Coin Laundry Laundry

Status Active

Directions See google maps.

City Elizabeth

Number Of Units Total 8

Lot Size Units Square Feet

Lot Size Square Feet 18816

Carport Spaces 0

Listing Terms Cash Conventional

Tax Annual Amount 6593.9

Structure Type Low Rise (1-3)

Standard Status Active

Occupancy Type Tenant

Cap Rate 7.71

Exterior

Exterior Amenities Lighting

Parking Features Asphalt

Lot Features Greenbelt

Water Source Public

Total Parking 19

Lot Size Area 18816

Building Area Total 5200

Lot Size Acres 0.43

Road Surface Type Paved

Internal Only

Street Number 1 490

* Excluded Features

List By

Shift Real Estate Llc

Broker

(719) 339-0712

Phone

Affordability Calculator

$6,707

Per Month

Monthly Principal & Interest: $6,157
Monthly Property Taxes: $549
Monthly Home Insurance: --

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Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Commerical listings in Elizabeth, CO

Average List Price ^$757,450

Percent of Sale Price 24%

About Elizabeth, CO

1,355 Population

18% Since 2002

^$84,245 Median Income

44.89 Median Age

33% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

242254 Elementary School

242425 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
3/9/2026	$1,000,000		Listed Price

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490 E Elm Street, Elizabeth, CO, 80107 is a Commercial Property for sale at $1,000,000 with 5,200 sqft and a lot size of 0.43. 490 E Elm Street was built in 1973. The property's zip code is 80107 which is in Elizabeth, CO

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

The data relating to real estate on this web site comes in part from the Internet Data eXchange (IDX) Program of the REcolorado. Real estate listings held by firms other than Weichert Realtors are marked with the IDX logo and detailed information about them includes the Listing Broker’s Firm Name.

The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Data is updated as of 3/10/2026.

This publication is designed to provide information with regard to the subject matter covered. It is displayed with the understanding that the publisher and authors are not engaged in rendering real estate, legal, accounting, tax, or other professional services and that the publisher and authors are not offering such advice in this publication. If real estate, legal, or other expert assistance is required, the services of a competent, professional person should be sought.

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PUBLISHER’S NOTICE: All real estate advertised herein is subject to the Federal Fair Housing Act and the Colorado Fair Housing Act, which Acts make it illegal to make or publish any advertisement that indicates any preference, limitation, or discrimination based on race, color, religion, sex, handicap, familial status, or national origin.

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490 E Elm Street

Commercial Property for sale in Elizabeth, CO

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