New Construction Four-Unit
For Sale
Contact for pricing
387-391 S Springmont Drive, Pueblo West, CO 81007
Four separately metered residences offer durable finishes, mini-split HVAC, and mountain views within an R-5-zoned property.
Property Size3,642 SF
Price / SF$205.93
Days on Market151
Property Features for 387-391 S Springmont Drive
General Information
Standard status
Active
Size
3,642 SF
Total Parking Spaces
6
Property subtype
Multifamily
Zoning
R-5
Occupancy
75%
Investment Type
Stabilized
Net Operating Income
$36,866
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x 2BR/1.5BA
Multifamily Units
4
Additional Details
Sprinkler System
Yes
Building Details
Year Built
2025
Buildings
1
Stories
2
Units
4
Listing Agency:
SELECT Real Estate LLC
(719) 778-0937
Listed By:
John Hart
Source:
Crexi
Added: Apr 3
Changed: Aug 30
Last Checked: Aug 30 at 12:40PM
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 SELECT Real Estate LLC
Investment Insights
Based on property information with market context.
Completed in 2025, this quadplex contains four two-bedroom, 1.5-bathroom residences totaling 3,642 square feet, with approximately 910 square feet per unit. Each apartment includes mini-split HVAC, LVP flooring, and fire sprinkler protection. Separate electric meters serve the units, and the property has no gas meters. The residences are in the initial rent-up stage, with the fourth unit projected for occupancy by mid to late April 2026.
The property is located at 387-391 S Springmont Drive in Pueblo West, Colorado. Shopping and restaurants are available in Pueblo West, while Highway 50 provides a direct connection toward Pueblo. The units also feature 180-degree mountain views and an R-5 zoning designation.
The property is located at 387-391 S Springmont Drive in Pueblo West, Colorado. Shopping and restaurants are available in Pueblo West, while Highway 50 provides a direct connection toward Pueblo. The units also feature 180-degree mountain views and an R-5 zoning designation.
Key Highlights
- Four‑unit quadplex completed in 2025
- Four 2‑bedroom, 1.5‑bathroom units totaling 3,642 square feet
- Each residence measures approximately 910 square feet
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
$29,706
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
3.96%
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%
$594,120
$594.1K
Cap Rate 7%
$424,371
$424.4K
Cap Rate 9%
$330,067
$330.1K
Market Conditions
NOI Build-Up for 3,642 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
$43.7K $12.00/SF
− Vacancy
−$1.3K −$0.35/SF
EGI
$42.4K $11.65/SF
− OpEx
−$12.7K −$3.50/SF
NOI
$29.7K $8.16/SF
Area
Pueblo County, CO
Vacancy
2.90%
Lease Rate
$12.00 /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%
$594,120
Cap Rate 7%
$424,371
Cap Rate 9%
$330,067
Alternative Uses
Best Use
Multifamily LT 5
$424.4K
$371.3K – $495.1K
NOI $29,706 @ 7.0% cap · market cap 3.96%
Second Best
Apartment 5plus
$355.6K
$311.2K – $414.9K
NOI $24,894 @ 7.0% cap · market cap 3.32%
Theoretical Best
Office A
$758.9K
$664.1K – $885.4K
NOI $53,124 @ 7.0% cap · market cap 7.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Sprinkler system
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
243
Businesses Nearby
Explore this area
Business Placement
Demographics for 81007, CO
33,263
Population
12,678
Households
2.6
Avg Household Size
42
Median Age
31%
College-Educated
93%
High-School Grad
136.5 sq mi
ZIP Area
244
Density / Sq Mi
$95,419
Median Household Income
$50,572
Median Earnings
$1,319
Median Rent
$371,600
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 separately metered residences offer durable finishes, mini-split HVAC, and mountain views within an R-5-zoned property.
Where is this quadplex located?
The property is located at 387-391 S Springmont Drive Pueblo West, CO.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Four‑unit quadplex completed in 2025; Four 2‑bedroom, 1.5‑bathroom units totaling 3,642 square feet; Each residence measures approximately 910 square feet
