Quadplex Requiring
For Sale
$550,000
9 - 15 Castle Royal Dr, Pueblo, CO 81005
Residential Income, Pueblo, CO
Property Size3,808 SF
Lot Size0.26 Acres
Price / SF$144.43
Days on Market43
Property Features for 9 - 15 Castle Royal Dr
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
R-4
Bedrooms
8
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 3, Bathroom 2, Bathroom 7, Bedroom 3, Bathroom 4, Bathroom 5, Bathroom 1, Bedroom 4, Bedroom 2, Bedroom 7, Bedroom 1, Bedroom 8, Bathroom 6, Bathroom 8, Bedroom 5, Bedroom 6
Parking features
None
Window features
Single Pane Window(s)
Fencing
Wood
Subdivision
Regency And Meadows
Elementary school
60
Middle school
60
High school
60
Standard status
Active
APN
1509115010
Size
3,808 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 38 Block 12 Regency Park 8th
Tax Annual Amount
2750
Legal Description
Lot 38 Block 12 Regency Park 8th
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1980
Floors in Building
2
Number of units
4
Building materials
Frame
Roof type
Composition
Listing Agency:
Keller Williams Clients Choice
(719) 535-0355
Listed By:
Karsten Musaeus · License #001324420
(719) 439-9898
Added: Jul 15
Changed: Aug 21
Last Checked: Aug 26 at 7:06AM
MLS# 241098
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 four-unit residential property contains 3808 square feet on a 0.26-acre parcel in Pueblo. Built in 1980, the frame structure has a composition roof, wood fencing, and natural-gas heating. The property requires work and does not include parking features.
The building is located at 9 - 15 Castle Royal Dr in Pueblo, Colorado. Public water and public sewer serve the property, which carries R-4 zoning. Its eight bedrooms and eight bathrooms provide the existing residential layout across the quadplex configuration.
The building is located at 9 - 15 Castle Royal Dr in Pueblo, Colorado. Public water and public sewer serve the property, which carries R-4 zoning. Its eight bedrooms and eight bathrooms provide the existing residential layout across the quadplex configuration.
Key Highlights
- Four‑unit residential property in Pueblo
- 3808 square feet on a 0.26‑acre lot
- R‑4 zoning
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
$31,170
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
5.67%
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%
$623,400
$623.4K
Cap Rate 7%
$445,286
$445.3K
Cap Rate 9%
$346,333
$346.3K
Market Conditions
NOI Build-Up for 3,808 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
$46.2K $12.12/SF
− Vacancy
−$1.6K −$0.43/SF
EGI
$44.5K $11.69/SF
− OpEx
−$13.4K −$3.51/SF
NOI
$31.2K $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%
$623,400
Cap Rate 7%
$445,286
Cap Rate 9%
$346,333
Alternative Uses
Best Use
Multifamily LT 5
$445.3K
$389.6K – $519.5K
NOI $31,170 @ 7.0% cap · market cap 5.67%
Second Best
Apartment 5plus
$401.1K
$350.9K – $467.9K
NOI $28,075 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$793.5K
$694.3K – $925.8K
NOI $55,546 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
444
Businesses Nearby
Explore this area
Business Placement
Demographics for 81005, CO
31,327
Population
13,578
Households
2.3
Avg Household Size
44
Median Age
26%
College-Educated
93%
High-School Grad
198.7 sq mi
ZIP Area
158
Density / Sq Mi
$67,500
Median Household Income
$45,198
Median Earnings
$990
Median Rent
$282,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Public water, public sewer, and natural-gas heating serve this four-unit residential property.
Where is this quadplex located?
The property is located at 9 - 15 Castle Royal Dr Pueblo, CO.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Four‑unit residential property in Pueblo; 3808 square feet on a 0.26‑acre lot; R‑4 zoning
