Fully Remodeled Fourplex With
For Sale
$395,000
1015 W 13th St, Pueblo, CO 81003
Four occupied 1-bedroom, 1-bath units feature new kitchens, appliances, and on-site laundry, plus recent roof and electrical updates.
Property Size2,288 SF
Days on Market167
Property Features for 1015 W 13th St
General Information
Standard status
Active
Size
2,288 SF
Property subtype
Investment
Lease Term
Call to inquire
Taxes and HOA fees
Annual Taxes
$1,695
Building Details
Building Size
2,288 SF
Year Built
1950
Listed By:
Chuncey Foreman
(720) 436-3249
Source:
Elliman
Added: Mar 28
Changed: Sep 4
Last Checked: Sep 10 at 10:58AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Chuncey Foreman
Investment Insights
Based on property information with market context.
This fully remodeled fourplex includes four 1-bedroom, 1-bath units, each updated with new kitchens and appliances, renovated bathrooms, and new heating and hot water equipment. Unit improvements also include new windows. Additional property upgrades include a new roof and upgraded electrical panels, and the building offers an on-site laundry facility for tenant convenience.
All units are currently occupied, supporting immediate rental income. The property is conveniently located near schools, shopping, and public transportation.
With the major systems and finishes already refreshed, the building is positioned as a turnkey option for buyers seeking a multi-unit residential income property.
All units are currently occupied, supporting immediate rental income. The property is conveniently located near schools, shopping, and public transportation.
With the major systems and finishes already refreshed, the building is positioned as a turnkey option for buyers seeking a multi-unit residential income property.
Key Highlights
- Fully remodeled 4‑plex built in 1950 with four 1‑bedroom, 1‑bath units
- All units currently occupied, providing immediate rental income
- Unit updates include new kitchens, appliances, bathrooms, windows, furnaces, and hot water heaters
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
$18,728
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
4.74%
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%
$374,560
$374.6K
Cap Rate 7%
$267,543
$267.5K
Cap Rate 9%
$208,089
$208.1K
Market Conditions
NOI Build-Up for 2,288 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
$27.7K $12.12/SF
− Vacancy
−$976 −$0.43/SF
EGI
$26.8K $11.69/SF
− OpEx
−$8.0K −$3.51/SF
NOI
$18.7K $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%
$374,560
Cap Rate 7%
$267,543
Cap Rate 9%
$208,089
Alternative Uses
Best Use
Multifamily LT 5
$267.5K
$234.1K – $312.1K
NOI $18,728 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$241.0K
$210.9K – $281.2K
NOI $16,869 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$476.8K
$417.2K – $556.2K
NOI $33,374 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,454
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Four occupied 1-bedroom, 1-bath units feature new kitchens, appliances, and on-site laundry, plus recent roof and electrical updates.
Where is this quadplex located?
The property is located at 1015 W 13th St Pueblo, CO.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Fully remodeled 4‑plex built in 1950 with four 1‑bedroom, 1‑bath units; All units currently occupied, providing immediate rental income; Unit updates include new kitchens, appliances, bathrooms, windows, furnaces, and hot water heaters
