Four-Unit Multifamily
New
For Sale
$525,000
2-8 Alan Shepard Rd, Pueblo, CO 81001
Residential Income, Pueblo, CO
Property Size5,654 SF
Lot Size0.20 Acres
Price / SF$92.85
Days on Market4
Property Features for 2-8 Alan Shepard Rd
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
R-5
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bathroom 4, Bedroom 6, Bedroom 3, Bedroom 8, Bathroom 1, Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 1, Bedroom 4, Bedroom 7
Window features
Vinyl Frames
Appliances
Dishwasher-All, Refrigerator-All, Electric Range-All
Subdivision
Belmont
Elementary school
60
Middle school
60
High school
60
Standard status
Active
APN
418411001
Size
5,654 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOT 1 + WLY 10 FT OF 2 BLK 215 BELMONT 23RD
Tax Annual Amount
2488
Legal Description
LOT 1 + WLY 10 FT OF 2 BLK 215 BELMONT 23RD
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1970
Floors in Building
2
Number of units
4
Building materials
Frame, Brick, Stucco, Copper Plumbing
Roof type
Composition
Listing Agency:
eXp Realty, LLC
(888) 440-2724
Listed By:
Dan Fortune · License #036166
(720) 515-9022
Added: Sep 10
Changed: Sep 12
Last Checked: Sep 13 at 12:06AM
MLS# 242225
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 5,654-square-foot multifamily property contains four residential units, each configured with two bedrooms and one bathroom. The units are fully leased and professionally managed, with dedicated parking provided for residents. Interior equipment includes dishwashers, refrigerators, and electric ranges. Forced-air natural gas heating serves the building, while frame, brick, and stucco construction, copper plumbing, and a composition roof are among the property’s physical features.
Built in 1970, the property occupies 0.198 acres and carries R-5 zoning. Public water and public sewer serve the site. The address is in Pueblo, near Colorado State University-Pueblo, parks, shopping, and major employers.
Built in 1970, the property occupies 0.198 acres and carries R-5 zoning. Public water and public sewer serve the site. The address is in Pueblo, near Colorado State University-Pueblo, parks, shopping, and major employers.
Key Highlights
- Four residential units, each with 2 bedrooms and 1 bathroom
- 5,654 square feet on a 0.198‑acre parcel
- All units are fully leased and professionally managed
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
$46,280
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
8.82%
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%
$925,600
$925.6K
Cap Rate 7%
$661,143
$661.1K
Cap Rate 9%
$514,222
$514.2K
Market Conditions
NOI Build-Up for 5,654 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
$68.5K $12.12/SF
− Vacancy
−$2.4K −$0.43/SF
EGI
$66.1K $11.69/SF
− OpEx
−$19.8K −$3.51/SF
NOI
$46.3K $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%
$925,600
Cap Rate 7%
$661,143
Cap Rate 9%
$514,222
Alternative Uses
Best Use
Multifamily LT 5
$661.1K
$578.5K – $771.3K
NOI $46,280 @ 7.0% cap · market cap 8.82%
Second Best
Apartment 5plus
$595.5K
$521.1K – $694.8K
NOI $41,685 @ 7.0% cap · market cap 7.94%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,473 @ 7.0% cap · market cap 15.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
295
Businesses Nearby
Explore this area
Business Placement
Demographics for 81001, CO
31,107
Population
13,651
Households
2.3
Avg Household Size
37
Median Age
21%
College-Educated
88%
High-School Grad
32.0 sq mi
ZIP Area
972
Density / Sq Mi
$47,086
Median Household Income
$35,204
Median Earnings
$1,027
Median Rent
$208,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased residential asset with two-bedroom floor plans, dedicated parking, and professional management in place.
Where is this quadplex located?
The property is located at 2-8 Alan Shepard Rd Pueblo, CO.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Four residential units, each with 2 bedrooms and 1 bathroom; 5,654 square feet on a 0.198‑acre parcel; All units are fully leased and professionally managed
