Renovated
For Sale
$479,000
2615 Atlanta Ave, Pueblo, CO 81003
Residential Income, Pueblo, CO
Property Size2,800 SF
Lot Size0.14 Acres
Price / SF$171.07
Days on Market54
Property Features for 2615 Atlanta Ave
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
R-2
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 2, Bedroom 6, Bathroom 4, Bathroom 2, Bedroom 4, Bedroom 1, Bedroom 8, Bathroom 3, Bedroom 3, Bathroom 1, Bedroom 7
Parking features
None
Window features
Double Pane Windows
Patio and Porch features
Porch
Appliances
Refrigerator-All, Electric Range-All, Range Hood-All, Washer-None, Dryer-None
Subdivision
Northside/Avenues
Elementary school
Pueblo School District 60
Middle school
Pueblo School District 60
High school
Pueblo School District 60
Standard status
Active
APN
1158552
Size
2,800 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
LOTS 10 + 11 BLK 82 FAIRMOUNT PARK 2ND and LOTS 12 + 13 BLK 82 FAIRMOUNT PARK 2ND
Tax Annual Amount
775
Legal Description
LOTS 10 + 11 BLK 82 FAIRMOUNT PARK 2ND and LOTS 12 + 13 BLK 82 FAIRMOUNT PARK 2ND
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
1965
Number of units
4
Building materials
Frame, Brick Veneer, Wood Siding
Roof type
Composition
Architectural style
Ranch
Listing Agency:
HomeSmart Realty Partners
(970) 667-0095
Listed By:
Tyson Letlow · License #FA100080924
(970) 819-6461
Added: Jul 8
Changed: Aug 24
Last Checked: Aug 30 at 12:06AM
MLS# 241016
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 2,800-square-foot quadplex contains four two-bedroom, one-bathroom apartments and is fully occupied. Each unit has received interior renovations, with natural-light-filled living areas and a ranch-style layout. The property was built in 1965 and includes forced-air heating, composition roofing, and a porch.
Set on 0.143 acres at 2615 Atlanta Ave in Pueblo, Colorado, the property carries R-2 zoning and is served by public water and public sewer. Construction includes frame, brick veneer, and wood siding. Refrigerators, electric ranges, and range hoods are provided across the units, while no on-site parking is identified.
Set on 0.143 acres at 2615 Atlanta Ave in Pueblo, Colorado, the property carries R-2 zoning and is served by public water and public sewer. Construction includes frame, brick veneer, and wood siding. Refrigerators, electric ranges, and range hoods are provided across the units, while no on-site parking is identified.
Key Highlights
- Four‑unit residential income property with 2,800 square feet
- Four 2‑bedroom, 1‑bathroom units
- Fully occupied with renovated interiors
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
$22,919
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
4.78%
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%
$458,380
$458.4K
Cap Rate 7%
$327,414
$327.4K
Cap Rate 9%
$254,656
$254.7K
Market Conditions
NOI Build-Up for 2,800 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
$33.9K $12.12/SF
− Vacancy
−$1.2K −$0.43/SF
EGI
$32.7K $11.69/SF
− OpEx
−$9.8K −$3.51/SF
NOI
$22.9K $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%
$458,380
Cap Rate 7%
$327,414
Cap Rate 9%
$254,656
Alternative Uses
Best Use
Multifamily LT 5
$327.4K
$286.5K – $382.0K
NOI $22,919 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$294.9K
$258.1K – $344.1K
NOI $20,644 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$583.5K
$510.5K – $680.7K
NOI $40,843 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
231
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
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 - All four apartments offer two bedrooms and one bathroom, with updated interiors and current occupancy.
Where is this quadplex located?
The property is located at 2615 Atlanta Ave Pueblo, CO.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Four‑unit residential income property with 2,800 square feet; Four 2‑bedroom, 1‑bathroom units; Fully occupied with renovated interiors
