Ranch Fourplex Investment
For Sale
$479,000
2615 Atlanta Ave, Pueblo, CO 81003
MULTI_FAMILY - Ranch - Pueblo, CO
Property Size2,800 SF
Lot Size0.14 Acres
Price / SF$171.07
Days on Market32
Property Features for 2615 Atlanta Ave
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
R-2
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 1, Bathroom 4, Bedroom 2, Bedroom 1, Bedroom 7, Bathroom 2, Bedroom 6, Bedroom 8, Bedroom 4, Bathroom 3, Bedroom 5
Parking features
None
Window features
Double Pane Windows
Patio and Porch features
Porch
Appliances
Refrigerator-All, Electric Range-All, Range Hood-All, Washer-None, Dryer-None
Subdivision
Northside/Avenues
Elementary school
Pueblo School District 60
Middle school
Pueblo School District 60
High school
Pueblo School District 60
Standard status
Active
APN
1158552
Size
2,800 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
LOTS 10 + 11 BLK 82 FAIRMOUNT PARK 2ND and LOTS 12 + 13 BLK 82 FAIRMOUNT PARK 2ND
Tax Annual Amount
775
Legal Description
LOTS 10 + 11 BLK 82 FAIRMOUNT PARK 2ND and LOTS 12 + 13 BLK 82 FAIRMOUNT PARK 2ND
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
1965
Number of units
4
Building materials
Frame, Brick Veneer, Wood Siding
Roof type
Composition
Architectural style
Ranch
Listing Agency:
HomeSmart Realty Partners
(970) 667-0095
Listed By:
Tyson Letlow · License #FA100080924
(970) 819-6461
Added: Jul 8
Changed: Aug 5
Last Checked: Aug 8 at 3:06PM
MLS# 241016
Copyright © 2026 Pueblo Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully occupied ranch fourplex offers four separate residential units, each with two bedrooms and one bathroom. The interior has been tastefully updated, with modern renovations completed across the units. The building is supported by forced-air heating, and the property includes public water and public sewer service.
The fourplex is set on a 0.143-acre lot and was built in 1965. Construction materials include frame with brick veneer and wood siding, under a composition roof. The property features a porch, and the homes include in-unit kitchen appliances such as refrigerators, electric ranges, and range hoods.
With a long-running rental history described as consistent occupancy, this is positioned for buyers seeking a small multifamily asset with straightforward unit layouts and multiple bedrooms across the building.
The fourplex is set on a 0.143-acre lot and was built in 1965. Construction materials include frame with brick veneer and wood siding, under a composition roof. The property features a porch, and the homes include in-unit kitchen appliances such as refrigerators, electric ranges, and range hoods.
With a long-running rental history described as consistent occupancy, this is positioned for buyers seeking a small multifamily asset with straightforward unit layouts and multiple bedrooms across the building.
Key Highlights
- Fully occupied fourplex with two‑bedroom, one‑bath units
- Tastefully updated interiors across all units
- 0.143‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,919
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.78%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$458,380
$458.4K
Cap Rate 7%
$327,414
$327.4K
Cap Rate 9%
$254,656
$254.7K
Market Conditions
NOI Build-Up for 2,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$33.9K $12.12/SF
− Vacancy
−$1.2K −$0.43/SF
EGI
$32.7K $11.69/SF
− OpEx
−$9.8K −$3.51/SF
NOI
$22.9K $8.19/SF
Area
Pueblo, CO
Vacancy
3.52%
Lease Rate
$12.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$458,380
Cap Rate 7%
$327,414
Cap Rate 9%
$254,656
Alternative Uses
Best Use
Multifamily LT 5
$327.4K
$286.5K – $382.0K
NOI $22,919 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$294.9K
$258.1K – $344.1K
NOI $20,644 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$583.5K
$510.5K – $680.7K
NOI $40,843 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
100
Businesses Nearby
Explore this area
Business Placement
Demographics for 81003, CO
15,169
Population
6,233
Households
2.4
Avg Household Size
38
Median Age
18%
College-Educated
80%
High-School Grad
12.2 sq mi
ZIP Area
1,243
Density / Sq Mi
$43,750
Median Household Income
$33,941
Median Earnings
$847
Median Rent
$178,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied fourplex in Pueblo zoned R-2 with updated interiors, two-bedroom, one-bath units, and public utilities.
Where is this quadplex located?
The property is located at 2615 Atlanta Ave Pueblo, CO.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Fully occupied fourplex with two‑bedroom, one‑bath units; Tastefully updated interiors across all units; 0.143‑acre lot
