Fully Occupied Pueblo Multifamily
For Sale
$499,000
222 Colorado Ave 224, Pueblo, CO 81004
Five-unit property in Pueblo, fully leased, excellent investment opportunity.
Property Size4,258 SF
Days on Market135
Property Features for 222 Colorado Ave 224
General Information
Standard status
Active
Size
4,258 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,588
Building Details
Building Size
4,258 SF
Year Built
1900
Stories
2
Units
5
Listed By:
Rora Berhe
(720) 722-1399
Source:
Elliman
Added: Apr 24
Changed: Aug 13
Last Checked: Sep 4 at 12:00PM
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 Rora Berhe
Investment Insights
Based on property information with market context.
This fully occupied five-unit multifamily property is located in Pueblo. The property is situated in a strong rental corridor, providing convenient access to downtown, shopping, dining, and major thoroughfares. The building includes a basement with a free washer and dryer for tenant use. Recent capital improvements include a new sewer line and newly poured cement in the rear. The property offers consistent rental income and benefits from steady rental demand in a growing market.
Key Highlights
- Fully occupied 5‑unit multifamily property providing immediate cash flow.
- Located in a strong rental corridor with convenient access to downtown, shopping, and dining.
- Recent capital improvements: new sewer line and newly poured cement in the rear.
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
$31,393
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
6.29%
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%
$627,860
$627.9K
Cap Rate 7%
$448,471
$448.5K
Cap Rate 9%
$348,811
$348.8K
Market Conditions
NOI Build-Up for 4,258 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
$59.3K $13.92/SF
− Vacancy
−$2.2K −$0.52/SF
EGI
$57.1K $13.40/SF
− OpEx
−$25.7K −$6.03/SF
NOI
$31.4K $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%
$627,860
Cap Rate 7%
$448,471
Cap Rate 9%
$348,811
Alternative Uses
Best Use
Apartment 5plus
$448.5K
$392.4K – $523.2K
NOI $31,393 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$887.3K
$776.4K – $1.04M
NOI $62,110 @ 7.0% cap · market cap 12.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,182
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit property in Pueblo, fully leased, excellent investment opportunity.
Where is this apartment building located?
The property is located at 222 Colorado Ave 224 Pueblo, CO.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Fully occupied 5‑unit multifamily property providing immediate cash flow.; Located in a strong rental corridor with convenient access to downtown, shopping, and dining.; Recent capital improvements: new sewer line and **newly poured cement in the rear**.
