Fourplex Residential Income
3602 Morris Ave Pueblo, CO 81008
For Sale
$595,000
Four separate units each offer two bedrooms, full kitchens, two full baths, and in-unit laundry facilities.
Property Size6,181 SF
Price / SF$96.26
Days on Market60
Property Features for 3602 Morris Ave
General Information
- Standard status
- Active
- Size
- 6,181 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1962
Listing Agency:
Muldoon Associates, Inc
(719) 650-3367
Listed By:
Nichole Dennis · License #100052320
(719) 650-3367
Source:
Exitrealty
Added: May 26
Changed: Jul 23
Last Checked: Jul 23 at 1:52PM
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 Muldoon Associates, Inc
Investment Insights
Based on property information with market context.
This for-sale fourplex includes four separate units with two-bedroom layouts, expansive living rooms, full-sized kitchens, two full bathrooms, and large laundry rooms. Built-in wood cabinetry runs throughout the units, and each home includes substantial interior storage. Upper units 1 and 2 have been refreshed with new flooring and paint, and feature central air conditioning, dining areas, and sunrooms with deck access, plus vaulted ceilings with wood beams. Unit 1 includes an attached garage and private driveway, and Unit 2 has its own private driveway.
The lower units 3 and 4 offer private, ground-level backyard entries, walk-out covered patios, wall unit air conditioners, and designated parking with a one-carport space for each unit. The property also includes a spacious mechanical room, a fenced backyard, large landscaped lot with sprinkler system, two storage sheds, gravel RV parking, and built-in storage in the carport.
Exterior improvements include a new roof and gutters, along with a freshly painted exterior.
The lower units 3 and 4 offer private, ground-level backyard entries, walk-out covered patios, wall unit air conditioners, and designated parking with a one-carport space for each unit. The property also includes a spacious mechanical room, a fenced backyard, large landscaped lot with sprinkler system, two storage sheds, gravel RV parking, and built-in storage in the carport.
Exterior improvements include a new roof and gutters, along with a freshly painted exterior.
Key Highlights
- 1962‑built four‑plex with 4 separate units; each unit has 2 bedrooms, full kitchen, 2 full bathrooms, and in‑unit laundry
- Upper units 1 & 2: recently refreshed with new flooring and paint; includes central air, sunrooms with deck access, and vaulted ceilings with wood beams
- Unit 1 includes an attached garage and private driveway; Unit 2 has its own private driveway
Financial Insights For Multifamily LT 5
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 | $74.9k | $12.12 |
| − Vacancy | −$2.6k | −$0.43 |
| EGI | $72.3k | $11.69 |
| − OpEx | −$21.7k | −$3.51 |
| NOI | $50.6k | $8.19 |
6,181 SF · lease $12.12/SF/yr · vacancy 3.52% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$722.8K
$632.4K – $843.2K
NOI $50,594 @ 7.0% cap · market cap 8.50%
Second Best
Apartment 5plus
$651.0K
$569.6K – $759.5K
NOI $45,571 @ 7.0% cap · market cap 7.66%
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,160 @ 7.0% cap · market cap 15.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Four separate units each offer two bedrooms, full kitchens, two full baths, and in-unit laundry facilities.
Where is this quadplex located?
The property is located at 3602 Morris Ave Pueblo, CO.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 1962‑built four‑plex with 4 separate units; each unit has 2 bedrooms, full kitchen, 2 full bathrooms, and in‑unit laundry; Upper units 1 & 2: recently refreshed with new flooring and paint; includes central air, sunrooms with deck access, and vaulted ceilings with wood beams; Unit 1 includes an attached garage and private driveway; Unit 2 has its own private driveway
