8-Unit Apartment Building Near Mineral Palace
For Sale
$890,000
203 207 W 14th St, Pueblo, CO 81003
Two adjoining residential buildings offer shared laundry, rear storage, and established occupancy near central Pueblo amenities.
Property Size6,624 SF
Price / SF$134.36
Days on Market11
Property Features for 203 207 W 14th St
General Information
Standard status
Active
Size
6,624 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
8
Amenities
shared laundry facilities
storage shed
Building Details
Year Built
1928
Buildings
2
Listing Agency:
Keller Williams Advantage
Listed By:
The Top Shelf Team · License #EB00275181
(832) 304-3008
Source:
Seehomesincolorado
Added: Sep 17
Changed: Sep 26
Last Checked: Sep 26 at 7:09AM
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 Keller Williams Advantage
Investment Insights
Based on property information with market context.
Built in 1928, this Pueblo multifamily property comprises two adjacent fourplexes at 203–207 W. 14th Street, with eight rental units totaling 6,624 square feet. Several residences have had tenants in place for more than 10 years, while most leases are currently month-to-month. Shared laundry facilities are located in the lower level of 207 W. 14th Street for use by residents of both buildings, and a storage shed serves the rear of the property.
The property includes parking behind the buildings, with additional street parking along the front. Mineral Palace Park is next to the site, while UCHealth Parkview Medical Center, Downtown Pueblo, shopping, dining, and I-25 access are nearby. The buildings were previously used for residential units together with one commercial unit; any future use changes remain subject to current zoning and City approval.
The property includes parking behind the buildings, with additional street parking along the front. Mineral Palace Park is next to the site, while UCHealth Parkview Medical Center, Downtown Pueblo, shopping, dining, and I-25 access are nearby. The buildings were previously used for residential units together with one commercial unit; any future use changes remain subject to current zoning and City approval.
Key Highlights
- Two side‑by‑side fourplexes provide 8 rental units
- 6,624 square feet across the property
- Built in 1928
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
$48,837
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
5.49%
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%
$976,740
$976.7K
Cap Rate 7%
$697,671
$697.7K
Cap Rate 9%
$542,633
$542.6K
Market Conditions
NOI Build-Up for 6,624 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
$92.2K $13.92/SF
− Vacancy
−$3.4K −$0.52/SF
EGI
$88.8K $13.40/SF
− OpEx
−$40.0K −$6.03/SF
NOI
$48.8K $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%
$976,740
Cap Rate 7%
$697,671
Cap Rate 9%
$542,633
Alternative Uses
Best Use
Apartment 5plus
$697.7K
$610.5K – $814.0K
NOI $48,837 @ 7.0% cap · market cap 5.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,622 @ 7.0% cap · market cap 10.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,566
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 - Two adjoining residential buildings offer shared laundry, rear storage, and established occupancy near central Pueblo amenities.
Where is this apartment building located?
The property is located at 203 207 W 14th St Pueblo, CO.
What is the asking price?
The asking price for this property is $890,000.
What are key features of this property?
This property features: Two side‑by‑side fourplexes provide 8 rental units; 6,624 square feet across the property; Built in 1928
