MODUS Commercial is pleased to present 902-906 Teal Ct, a six unit multifamily building in Colorado Springs that pairs steady in place income with clear room to grow. Built in 1967 and spanning 4,325 square feet, the property is comprised of five one bed one
bath units and one two bed one bath unit.
The rent roll is anchored by a base of long term tenants, several of whom have called the property home for multiple years. That tenure speaks to the durability of the income and the appeal of the location, and it gives a new owner a stable foundation to build from. Because every unit is currently on a month to month lease, the next owner has the flexibility to reposition units, move rents toward market, and execute a business plan on their own timeline without waiting out long lease terms.
There is meaningful upside to capture. Rents have been managed conservatively under current ownership, leaving room
to bring the property in line with market as units turn. Just as important, the current owner does not bill tenants back for
utilities. Implementing a utility bill-back program, whether RUBS or a similar structure, is a clear year one win that recaptures a cost
ownership absorbs today and lifts net operating income from the outset.
For an investor seeking a well located, well occupied asset with multiple levers to drive returns over time, 902-906 Teal Ct is a compelling long term value add opportunity in a resilient Colorado Springs submarket.
Property Details
- Property Type
- Purchase
- Year Built
- 1967
- Sewer Information
- Public Sewer
- County
- El Paso
- Region
- Colorado Springs
- Zoning
- R-5
- Taxes Annual
- $3,039
- MLS #
- 6197685
- Property Subtype
- Multi Family
- Parcel Number
- 64222-08-007
- MLS #
- 6197685
- Date Listed
- September 08, 2026
- Address
- 906 Teal Court #902
Location
Legal
Based on information submitted to the MLS GRID as of 2026-09-13 04:37:38 UTC. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Last Updated: Sep 13, 2026 4:37 AM. Source: RECOLORADO
Provided By
Listed by Andrew Stephens (#670172507f64a372734339c7ba4f5f9b), astephens@moduscommercial.com,72
Listing Office: MODUS Real Estate
Legal Notice
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The information contained in this publication is subject to change without notice. METROLIST, INC., DBA RECOLORADO MAKES NO WARRANTY OF ANY KIND WITH REGARD TO THIS MATERIAL, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. METROLIST, INC., DBA RECOLORADO SHALL NOT BE LIABLE FOR ERRORS CONTAINED HEREIN OR FOR ANY DAMAGES IN CONNECTION WITH THE FURNISHING, PERFORMANCE, OR USE OF THIS MATERIAL.
Buyer Agency Compensation
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
