Updated Fourplex with Two-Bedroom
For Sale
$479,000
2615 Atlanta Ave Unit 2621, Pueblo, CO 81003
Four renovated residential units each offer two bedrooms, one bathroom, and naturally lit living areas.
Property Size2,800 SF
Price / SF$171.07
Days on Market67
Property Features for 2615 Atlanta Ave Unit 2621
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Building Details
Year Built
1965
Listing Agency:
HomeSmart Realty Partners
(970) 819-6461
Listed By:
Tyson Letlow · License #FA100080924
Source:
719coloradohome
Added: Jun 25
Changed: Aug 29
Last Checked: Aug 29 at 11:27AM
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 HomeSmart Realty Partners
Investment Insights
Based on property information with market context.
This fourplex comprises four residential units, with each unit offering two bedrooms and one bathroom. The interiors have been updated, while natural light enhances the living areas. The building contains 2,800 square feet and was constructed in 1965.
All four units are currently occupied, and the property has a history of consistent occupancy. The residential layout is located at 2615 Atlanta Ave Unit 2621 in Pueblo, Colorado, providing a clearly defined four-unit configuration for an owner or investor.
All four units are currently occupied, and the property has a history of consistent occupancy. The residential layout is located at 2615 Atlanta Ave Unit 2621 in Pueblo, Colorado, providing a clearly defined four-unit configuration for an owner or investor.
Key Highlights
- Four‑unit residential property with all units currently occupied
- Each unit includes 2 bedrooms and 1 bathroom
- Updated interiors across all four units
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
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 - Four renovated residential units each offer two bedrooms, one bathroom, and naturally lit living areas.
Where is this quadplex located?
The property is located at 2615 Atlanta Ave Unit 2621 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 property with all units currently occupied; Each unit includes 2 bedrooms and 1 bathroom; Updated interiors across all four units
