Historic Multifamily Property with
New
For Sale
$945,000
501 Colorado Ave, Pueblo, CO 81004
Residential Income, Pueblo, CO
Property Size3,279 SF
Lot Size0.22 Acres
Price / SF$288.20
Days on Market4
Property Features for 501 Colorado Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-4
Bedrooms
3
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 1, Bathroom 4, Bedroom 3, Bathroom 3, Bathroom 1, Bathroom 2
Parking
3
Parking features
Garage - Detached, Open, On Street
Spa
1
Patio and Porch features
Porch
Interior features
Ceiling Fan(s), Vaulted Ceiling(s), Walk-In Closet(s), Walk-in Shower
Exterior features
Accessory Dwelling
Fencing
Fenced
Basement
Crawl Space
Appliances
Refrigerator-All, Gas Range-Some, Washer-All, Dryer-All
Subdivision
Central High School
Lot features
Corner Lot, Lawn- Rear, Lawn- Front
Elementary school
60
Middle school
60
High school
60
Standard status
Active
APN
1502129015
Size
3,279 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FRONT 95 FT OF LOTS 31 + 32 BLK 112 COLORADO COAL + IRON COMPANYS ADDITION NO 1
Tax Annual Amount
2734
Legal Description
FRONT 95 FT OF LOTS 31 + 32 BLK 112 COLORADO COAL + IRON COMPANYS ADDITION NO 1
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Forced Air
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1900
Floors in Building
3
Number of units
3
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Composition
Listing Agency:
The Platinum Group Realtors
(719) 536-4444
Listed By:
Savannah Perry
(985) 789-8955
Added: Sep 4
Last Checked: Sep 7 at 2:06AM
MLS# 242114
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 multifamily property combines a National Register-listed Queen Anne Victorian residence at 501 Colorado Ave with an adjoining duplex at 112-114 Grant Ave. The 3,279-square-foot assemblage occupies 0.22 acres and includes the primary residence plus two one-bedroom units. Interior character features include an oak staircase, stained glass, hardwood flooring, two fireplaces, formal dining and parlor spaces, a large kitchen with commercial-grade appliances, multiple bathrooms, and a private second-floor patio. The third-floor finished space, known as “The Nest,” adds windows, a full bathroom, and storage.
Each duplex unit has a kitchen, 3/4 bath, exposed beams, and an interior-access basement with laundry. A detached garage provides three bays, while additional parking is available in open and on-street spaces. The property also includes a porch, fenced areas, public water, public sewer, brick construction, and a combination of baseboard and forced-air heating.
Each duplex unit has a kitchen, 3/4 bath, exposed beams, and an interior-access basement with laundry. A detached garage provides three bays, while additional parking is available in open and on-street spaces. The property also includes a porch, fenced areas, public water, public sewer, brick construction, and a combination of baseboard and forced-air heating.
Key Highlights
- National Register‑listed Queen Anne Victorian residence with adjoining duplex
- 3,279 square feet on a 0.22‑acre lot
- Duplex includes two one‑bedroom units with kitchens and basement laundry access
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
$26,840
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
2.84%
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%
$536,800
$536.8K
Cap Rate 7%
$383,429
$383.4K
Cap Rate 9%
$298,222
$298.2K
Market Conditions
NOI Build-Up for 3,279 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
$39.7K $12.12/SF
− Vacancy
−$1.4K −$0.43/SF
EGI
$38.3K $11.69/SF
− OpEx
−$11.5K −$3.51/SF
NOI
$26.8K $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%
$536,800
Cap Rate 7%
$383,429
Cap Rate 9%
$298,222
Alternative Uses
Best Use
Multifamily LT 5
$383.4K
$335.5K – $447.3K
NOI $26,840 @ 7.0% cap · market cap 2.84%
Second Best
Apartment 5plus
$345.4K
$302.2K – $402.9K
NOI $24,175 @ 7.0% cap · market cap 2.56%
Theoretical Best
Office A
$683.3K
$597.9K – $797.2K
NOI $47,830 @ 7.0% cap · market cap 5.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
778
Businesses Nearby
Explore this area
Business Placement
Demographics for 81004, CO
26,005
Population
12,597
Households
2.1
Avg Household Size
39
Median Age
20%
College-Educated
90%
High-School Grad
160.9 sq mi
ZIP Area
162
Density / Sq Mi
$48,620
Median Household Income
$33,925
Median Earnings
$1,002
Median Rent
$181,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - National Register-listed Queen Anne residence paired with a two-unit duplex and detached three-bay garage.
Where is this multifamily property located?
The property is located at 501 Colorado Ave Pueblo, CO.
What is the asking price?
The asking price for this property is $945,000.
What are key features of this property?
This property features: National Register‑listed Queen Anne Victorian residence with adjoining duplex; 3,279 square feet on a 0.22‑acre lot; Duplex includes two one‑bedroom units with kitchens and basement laundry access
