Remodeled Quadplex with Central
For Sale
$555,000
519 E Evans Ave, Pueblo, CO 81004
MULTI_FAMILY - Pueblo, CO
Property Size4,394 SF
Lot Size0.13 Acres
Price / SF$126.31
Days on Market151
Property Features for 519 E Evans Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-3
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 6, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 3, Bathroom 4, Bedroom 5
Parking
1
Parking features
Garage - Detached
Window features
Vinyl Frames
Patio and Porch features
Porch
Basement
Full
Appliances
Refrigerator-All, Gas Range-All, Microwave Built-In-All
Subdivision
Central High School
Elementary school
60
Middle school
60
High school
60
Standard status
Active
APN
1501205022
Size
4,394 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT B + SELY 10.5 FT OF LOT C GRAHAMS SUB OF LOTS 25 TO 32 OF BLK 165 IN COLORADO COAL + IRON COMPANYS ADDITION NO 1
Tax Annual Amount
2119
Legal Description
LOT B + SELY 10.5 FT OF LOT C GRAHAMS SUB OF LOTS 25 TO 32 OF BLK 165 IN COLORADO COAL + IRON COMPANYS ADDITION NO 1
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
dual-pane energy-efficient Low-E vinyl windows
9-foot ceilings
open-concept layout
laminate flooring
modern kitchen with appliances
modern bathrooms with tile and vanities
optional upstairs storage
Building Details
Year built
1903
Floors in Building
3
Number of units
4
Building materials
Frame, Plastic Plumbing
Roof type
Composition
Listing Agency:
Sorella Real Estate
(719) 621-4778
Listed By:
Your Hometown Team
(719) 214-3733
Added: Mar 17
Changed: Aug 5
Last Checked: Aug 14 at 12:06PM
MLS# 238699
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 fully remodeled quadplex offers four units with open-concept layouts and 9-foot ceilings that create a bright, spacious feel. The property features large dual-pane Low-E vinyl windows, updated plumbing and electrical, and improvements including roof and furnace replacements. Interiors include laminate flooring throughout, modern kitchens with appliances, and bathrooms finished with modern tile and vanities. Unit mix includes both one-bedroom and two-bedroom apartments, with optional additional upstairs storage available for rent.
The property sits on a 0.13-acre lot and is connected to public water and public sewer. Heating is forced air using natural gas, and cooling is provided by central air.
Parking includes one dedicated parking space per unit with rear access, plus additional street parking. The detached garage configuration and porch provide added exterior utility for residents. Built in 1903, the home is roofed with a composition roof.
The property sits on a 0.13-acre lot and is connected to public water and public sewer. Heating is forced air using natural gas, and cooling is provided by central air.
Parking includes one dedicated parking space per unit with rear access, plus additional street parking. The detached garage configuration and porch provide added exterior utility for residents. Built in 1903, the home is roofed with a composition roof.
Key Highlights
- R‑3 zoned remodeled quadplex with open‑concept units and 9‑foot ceilings
- Dual‑pane Low‑E vinyl windows, updated plumbing and electrical, plus roof and furnaces
- Central air with forced‑air natural gas heating
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
$35,966
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
6.48%
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%
$719,320
$719.3K
Cap Rate 7%
$513,800
$513.8K
Cap Rate 9%
$399,622
$399.6K
Market Conditions
NOI Build-Up for 4,394 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
$53.3K $12.12/SF
− Vacancy
−$1.9K −$0.43/SF
EGI
$51.4K $11.69/SF
− OpEx
−$15.4K −$3.51/SF
NOI
$36.0K $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%
$719,320
Cap Rate 7%
$513,800
Cap Rate 9%
$399,622
Alternative Uses
Best Use
Multifamily LT 5
$513.8K
$449.6K – $599.4K
NOI $35,966 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$462.8K
$405.0K – $539.9K
NOI $32,396 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$915.6K
$801.2K – $1.07M
NOI $64,094 @ 7.0% cap · market cap 11.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
426
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully remodeled quadplex in R-3 zoning with open-concept units, 9-foot ceilings, and central air.
Where is this quadplex located?
The property is located at 519 E Evans Ave Pueblo, CO.
What is the asking price?
The asking price for this property is $555,000.
What are key features of this property?
This property features: R‑3 zoned remodeled quadplex with open‑concept units and 9‑foot ceilings; Dual‑pane Low‑E vinyl windows, updated plumbing and electrical, plus roof and furnaces; Central air with forced‑air natural gas heating
