Overview
Pueblo Multifamily Investment Opportunity
Briarwood Apartments, constructed in 1978, features 60 units, with 30 one-bedroom, one-bathroom units and 30 two-bedroom, one-bathroom units, plus an on-site manager house and workshop. Situated on a 3.8-acre lot adjacent to Briarwood Park in Pueblo, CO, the community provides amenities such as a basketball court, outdoor grill stations with pergolas, and a playground. Substantial upgrades have been implemented, including new windows, a security system with cameras, and renovations to over 80% of the units since July 2015. Outdoor community areas have also been upgraded. The property benefits from an assumable loan at 3.4% for another 6.5 years, with interest-only payments until October 1, 2025. The loan amount is $2,500,000. Additional improvements include a new northside fence, a new gate for the trash enclosure, a new irrigation and drip system, new landscaping, pergolas with BBQ grills and new concrete pads, and outdoor seating. The rear building was renovated for a living unit, and a new two-car workshop/garage was built, featuring stucco to match the apartment building, along with upgraded electrical systems. Further enhancements include new storefront glass for stacks, new signage, new roofs and mansards, new rear slider doors, refurbished Juliet decks, new domestic holding tank(s), new hot water heater(s), new back flow(s), installed security system and cameras, new Post Office boxes, new gutters and seal coated parking lot with new parking blocks. The location provides convenient access to Pueblo Mall, eateries, and boutiques along Northern Avenue, Runyon Lake walking trails, and Mineral Palace Park.
