Building Details

Building Size 2,940 SF

Year Built 1972

Listing Agency: RE/MAX Of Pueblo Inc

Listed By: Barbara Ferrero Show Phone

Source: Kw

Added: Feb 16 Changed: Oct 16 Last Checked: Oct 16 at 6:56AM

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Investment Insights

Based on property information with market context.

This quadplex contains four residential units and was built in 1972. Unit features include cable readiness, natural gas, wall-unit cooling, garbage disposals, refrigerators, electric ranges, and range hoods in some units. Exterior improvements include patios, a porch, cable connectivity, and composition roofing. A coin-operated washer and dryer provide an additional income source for the property.

The property is located at 2122 Norman Lane in Pueblo, near Walmart, schools, restaurants, places of worship, and other daily necessities. Access is available to Pueblo Boulevard and Northern Avenue, supporting convenient movement through the surrounding area.

Key Highlights

• Quadplex with four residential units
• Coin‑operated washer and dryer generate additional income
• Built in 1972

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$24,065

Cap Rate

6.42%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$481,300 $481.3K

Cap Rate 7%

$343,786 $343.8K

Cap Rate 9%

$267,389 $267.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,940 SF

Gross rent

$35.6K $12.12/SF

− Vacancy

−$1.3K −$0.43/SF

EGI

$34.4K $11.69/SF

− OpEx

−$10.3K −$3.51/SF

NOI

$24.1K $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 Rate 5%

$481,300

Cap Rate 7%

$343,786

Cap Rate 9%

$267,389

Alternative Uses

Best Use

Multifamily LT 5

$343.8K

$300.8K – $401.1K (±1% cap)

NOI $24,065 @ 7.0% cap · market cap 6.42%

Second Best

Apartment 5plus

$309.7K

$271.0K – $361.3K (±1% cap)

NOI $21,676 @ 7.0% cap · market cap 5.78%

Theoretical Best

Office A

$612.6K

$536.1K – $714.8K (±1% cap)

NOI $42,885 @ 7.0% cap · market cap 11.44%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Building Supply Spa & Massage Center Hair Salon Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

405

Businesses Nearby

Explore this area Business Placement

Demographics for 81005, CO

31,327

Population

13,578

Households

2.3

Avg Household Size

44

Median Age

26%

College-Educated

93%

High-School Grad

198.7 sq mi

ZIP Area

158

Density / Sq Mi

$67,500

Median Household Income

$45,198

Median Earnings

$990

Median Rent

$282,100

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - Four-unit residential income property with on-site coin-operated laundry and individual kitchen appliances.

Where is this quadplex located?

The property is located at 2122 Norman Lane Pueblo, CO.

What is the asking price?

The asking price for this property is $375,000.

What are key features of this property?

This property features: Quadplex with four residential units; Coin‑operated washer and dryer generate additional income; Built in 1972