Brick Apartment
New
For Sale
$1,850,000
1813 N Greenwood, Pueblo, CO 81003
Residential Income, Pueblo, CO
Property Size15,400 SF
Lot Size0.91 Acres
Price / SF$120.13
Days on Market2
Property Features for 1813 N Greenwood
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-1
Bedrooms
38
Bathrooms
20
Full bathrooms
20
Rooms
Bedroom 22, Bedroom 1, Bathroom 2, Bathroom 16, Bedroom 38, Bathroom 11, Bathroom 14, Bathroom 15, Bedroom 17, Bedroom 10, Bedroom 27, Bedroom 12, Bedroom 8, Bedroom 13, Bedroom 15, Bedroom 30, Bathroom 1, Bedroom 33, Bedroom 3, Bedroom 31, Bedroom 7, Bedroom 4, Bedroom 11, Bedroom 14, Bedroom 25, Bedroom 32, Bedroom 37, Bathroom 6, Bathroom 20, Bedroom 18, Bathroom 8, Bathroom 17, Bedroom 34, Bedroom 29, Bedroom 35, Bedroom 36, Bathroom 4, Bathroom 9, Bedroom 6, Bedroom 20, Bedroom 9, Bathroom 12, Bedroom 24, Bathroom 3, Bedroom 19, Bedroom 28, Bedroom 26, Bathroom 13, Bedroom 23, Bathroom 5, Bedroom 2, Bedroom 21, Bathroom 19, Bedroom 16, Bedroom 5, Bathroom 18, Bathroom 7, Bathroom 10
Parking features
None
Window features
Single Pane Window(s), Double Pane Windows
Fireplace
1
Basement
Crawl Space, Full
Appliances
Dishwasher-None, Garbage Disposal-None, Refrigerator-None, Gas Range-None, Electric Range-None, Microwave Built-In-None, Range Hood-None, Washer-None, Dryer-None, Gas Cooktop-None, Electric Cooktop-None, Built-in Oven-None
Subdivision
Northside/Avenues
Lot features
Corner Lot
Elementary school
60
Middle school
60
High school
60
Standard status
Active
APN
3 parcels
Size
15,400 SF
Lot size
0.91 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 27 TO 32 BLK 27 DUNDEE PL and LOTS 1 TO 5 + 7 FT OF LOT 6 BLK 15 BARTLETT + MILLER'S ADD and E 43 FT LOTS 1 TO 6 BLK 27 DUNDEE PL + VAC ALLEY ADJ
Tax Annual Amount
13403
Legal Description
LOTS 27 TO 32 BLK 27 DUNDEE PL and LOTS 1 TO 5 + 7 FT OF LOT 6 BLK 15 BARTLETT + MILLER'S ADD and E 43 FT LOTS 1 TO 6 BLK 27 DUNDEE PL + VAC ALLEY ADJ
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1951
Floors in Building
2
Number of units
20
Building materials
Brick, Plastic Plumbing
Roof type
Composition
Listing Agency:
RE/MAX Associates · RE/MAX International
(719) 583-8383
Listed By:
Kendall Curtis · License #40008607
(719) 334-1234
Added: Sep 11
Last Checked: Sep 12 at 7:06AM
MLS# 240780
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 offering includes five mid-century brick fourplexes conveyed together, totaling 15,400 square feet on 0.91 acres. Built in 1951, the buildings are currently not occupiable and require full interior remodeling. Substantial infrastructure work has already been completed, including new forced-air natural-gas furnaces, hot water heaters, PEX plumbing, electrical improvements, meter sockets, and interior wiring. The property also has public water and public sewer service, composition roofs, and brick construction.
The site is located in Pueblo, Colorado, two short blocks north of Parkview Hospital. The property is zoned R-1 and includes no designated parking features. This package presents a multi-building apartment asset with its primary systems upgraded while interior rehabilitation remains to be completed.
The site is located in Pueblo, Colorado, two short blocks north of Parkview Hospital. The property is zoned R-1 and includes no designated parking features. This package presents a multi-building apartment asset with its primary systems upgraded while interior rehabilitation remains to be completed.
Key Highlights
- Five mid‑century brick fourplexes sold together
- 15,400 square feet across 0.91 acres
- Built in 1951; units are currently not occupiable and require full remodeling
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
$113,540
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
6.14%
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%
$2,270,800
$2.3M
Cap Rate 7%
$1,622,000
$1.6M
Cap Rate 9%
$1,261,556
$1.3M
Market Conditions
NOI Build-Up for 15,400 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
$214.4K $13.92/SF
− Vacancy
−$7.9K −$0.52/SF
EGI
$206.4K $13.40/SF
− OpEx
−$92.9K −$6.03/SF
NOI
$113.5K $7.37/SF
Area
Pueblo, CO
Vacancy
3.70%
Lease Rate
$13.92 /SF/Yr
Expense Ratio
45.00%
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%
$2,270,800
Cap Rate 7%
$1,622,000
Cap Rate 9%
$1,261,556
Alternative Uses
Best Use
Apartment 5plus
$1.62M
$1.42M – $1.89M
NOI $113,540 @ 7.0% cap · market cap 6.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.21M
$2.81M – $3.74M
NOI $224,634 @ 7.0% cap · market cap 12.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
20
Residential units
Location Intelligence
Trade Area within ½ mile
985
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Five brick fourplexes require comprehensive renovation, with major plumbing, electrical, heating, and water-heating upgrades already completed.
Where is this apartment building located?
The property is located at 1813 N Greenwood Pueblo, CO.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Five mid‑century brick fourplexes sold together; 15,400 square feet across 0.91 acres; Built in 1951; units are currently not occupiable and require full remodeling
