224-228 W 3rd Street Pueblo, CO 81003
MULTI_FAMILY - Pueblo, CO
Property Features for 224-228 W 3rd Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Apartment
- Standard status
- Active
- Size
- 9,000 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 3213
Utilities
- Heating system
- Natural Gas, Forced Air, Wall Furnace
- Cooling system
- Wall Unit(s), Central Air
Building Details
- Year built
- 1900
Listing agent Angie Perdios (719) 269-7355
Listing office Keller Williams Performance Realty 1528 Fortino Blvd, Canon City, CO (719) 583-1100
Listing date Feb 6, 2026
Copyright © 2026 elevateMLS. 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.
Set in downtown Pueblo, the building benefits from nearby activity along the Arkansas Riverwalk. Parking is available both on-site and in the immediate area, including four off-street spaces, plus additional on-street and paid city parking garage options across the street. A bus station and the Pueblo Bulls Ice Hockey arena are also located across the street.
For tenants or operators, the combination of ground-floor commercial space and on-site residential units can support mixed-use occupancy goals. The unit mix is straightforward, with three two-bedroom apartments and four one-bedroom apartments, which may simplify leasing by aligning with common household sizes. Off-street parking plus nearby garage and on-street options provide practical access for residents, staff, and customers.
Key Highlights
- Approximately 9,000 SF total rentable space with about 2,500 SF of commercial space available
- 7 residential apartments: three 2‑bedroom units and four 1‑bedroom units
- Off‑street parking for 4 spaces plus 12+ on‑street spaces and a paid city parking garage across the street
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $145.8k | $16.20 |
| − Vacancy | −$5.8k | −$0.65 |
| EGI | $140.0k | $15.55 |
| − OpEx | −$52.5k | −$5.83 |
| NOI | $87.5k | $9.72 |
