Remodeled Triplex with
New
For Sale
$219,900
1314 E Evans Ave, Pueblo, CO 81004
Residential Income, Pueblo, CO
Property Size1,988 SF
Lot Size0.13 Acres
Price / SF$110.61
Days on Market5
Property Features for 1314 E Evans Ave
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
B-4
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 4, Bathroom 3
Parking features
On Street, RV
Window features
Single Pane Window(s), Double Pane Windows, Window Coverings, Vinyl Frames
Patio and Porch features
Porch
Interior features
New Paint, Ceiling Fan(s), Cable TV
Exterior features
Outdoor Lighting-Rear, Outdoor Lighting-Front, Courtyard
Fencing
Wood
Fireplace
1
Basement
Unfinished, Crawl Space
Appliances
Dishwasher-None, Garbage Disposal-All, Refrigerator-All, Gas Range-Some, Electric Range-Some, Range Hood-Some
Subdivision
Minnequa Area
Lot features
Rock- Rear
Elementary school
60
Middle school
60
High school
60
Standard status
Active
APN
1512104003
Size
1,988 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2022
Tax Description
LOT 3 LESS STRIP 6 IN BY 37 FT IN NW COR BLK 2 STEELWORKS AMENDED
Tax Annual Amount
1435
Legal Description
LOT 3 LESS STRIP 6 IN BY 37 FT IN NW COR BLK 2 STEELWORKS AMENDED
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Wall Furnace, Natural Gas, Electric (Heating), Forced Air, Baseboard
Water source
Public
Amenities
private courtyard
Building Details
Year built
1920
Floors in Building
2
Number of units
3
Flooring type
New floor coverings
Building materials
Brick, Stucco, Wood Siding
Roof type
Composition
Listing Agency:
Keller Williams Advantage
(303) 986-4300
Listed By:
The Top Shelf Team
(719) 289-6494
Added: Aug 19
Last Checked: Aug 23 at 10:06PM
MLS# 234122
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 1,988-square-foot triplex combines a leased commercial storefront with a bathroom and office, a one-bedroom apartment, and an upstairs two-bedroom apartment. Each component is occupied, and the residential units include one bathroom apiece. The property has received updates including new paint, floor coverings, and a new electrical service box and panel. It is being sold as is.
Set on 0.127 acres in Pueblo, the property includes a private courtyard, porch, exterior lighting, wood fencing, and public water and sewer service. Heating is provided through a combination of wall, baseboard, forced-air, and hot-water systems using natural gas and electricity. The tenants pay the utilities, and the existing occupants have expressed interest in extended lease terms.
Set on 0.127 acres in Pueblo, the property includes a private courtyard, porch, exterior lighting, wood fencing, and public water and sewer service. Heating is provided through a combination of wall, baseboard, forced-air, and hot-water systems using natural gas and electricity. The tenants pay the utilities, and the existing occupants have expressed interest in extended lease terms.
Key Highlights
- Fully occupied triplex with a commercial storefront and two residential apartments
- 1,988 SF building on a 0.127‑acre lot
- Commercial storefront includes a bathroom and office
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
$18,306
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
8.32%
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%
$366,120
$366.1K
Cap Rate 7%
$261,514
$261.5K
Cap Rate 9%
$203,400
$203.4K
Market Conditions
NOI Build-Up for 1,988 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 $13.92/SF
− Vacancy
−$1.5K −$0.77/SF
EGI
$26.2K $13.15/SF
− OpEx
−$7.8K −$3.95/SF
NOI
$18.3K $9.21/SF
Area
Pueblo, CO
Vacancy
5.50%
Lease Rate
$13.92 /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%
$366,120
Cap Rate 7%
$261,514
Cap Rate 9%
$203,400
Alternative Uses
Best Use
Retail
$261.5K
$228.8K – $305.1K
NOI $18,306 @ 7.0% cap · market cap 8.32%
Second Best
Multifamily LT 5
$232.5K
$203.4K – $271.2K
NOI $16,273 @ 7.0% cap · market cap 7.40%
Theoretical Best
Office A
$414.3K
$362.5K – $483.3K
NOI $28,998 @ 7.0% cap · market cap 13.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
426
Businesses Nearby
Explore this area
Business Placement
Demographics for 81004, CO
26,005
Population
12,597
Households
2.1
Avg Household Size
39
Median Age
20%
College-Educated
90%
High-School Grad
160.9 sq mi
ZIP Area
162
Density / Sq Mi
$48,620
Median Household Income
$33,925
Median Earnings
$1,002
Median Rent
$181,200
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?
Triplex - Three occupied spaces include a commercial storefront and two residential apartments, with tenants responsible for utilities.
Where is this triplex located?
The property is located at 1314 E Evans Ave Pueblo, CO.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: Fully occupied triplex with a commercial storefront and two residential apartments; 1,988 SF building on a 0.127‑acre lot; Commercial storefront includes a bathroom and office
