Updated Quadplex with Unit
For Sale
$399,500
608 Baystate Ave, Pueblo, CO 81004
Residential Income, Pueblo, CO
Property Size2,604 SF
Lot Size0.13 Acres
Price / SF$153.42
Days on Market89
Property Features for 608 Baystate Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-3
Bedrooms
3
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 4, Bathroom 2, Bedroom 1, Bathroom 1, Bathroom 3, Bathroom 5, Bedroom 3, Bedroom 2
Parking features
On Street
Window features
Single Pane Window(s), Double Pane Windows, Vinyl Frames
Interior features
New Paint
Basement
Partial, Unfinished
Appliances
Refrigerator-All, Electric Cooktop-All
Subdivision
Minnequa Area
Elementary school
60
Middle school
60
High school
60
Standard status
Active
APN
1512221017
Size
2,604 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 35 + 36 BLK 3 SUBURBAN LAND + INVESTMENT COMPANYS SUB
Tax Annual Amount
1460
Legal Description
LOTS 35 + 36 BLK 3 SUBURBAN LAND + INVESTMENT COMPANYS SUB
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Natural Gas
Water source
Public
Building Details
Year built
1903
Floors in Building
3
Number of units
4
Flooring type
Hardwood, New floor coverings
Building materials
Frame, Stucco
Roof type
Composition
Listing Agency:
Buy Smart Colorado
(719) 310-8464
Listed By:
Caleb Skelton
(719) 216-4057
Added: Jun 18
Changed: Sep 12
Last Checked: Sep 14 at 1:06AM
MLS# 240321
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 2,604-square-foot quadplex in Pueblo contains four residential units: two studios, one one-bedroom/one-bath unit, and one two-bedroom/two-bath unit. Interior improvements include new floor coverings, fresh paint, updated appliances, and white cabinetry. The property was built in 1903 and has frame and stucco construction, a composition roof, and on-street parking.
Gas service is separately metered, while the owner pays water, electric, and trash. Public water and sewer serve the property. Zoned R-3, the fully leased building is located at 608 Baystate Ave in Pueblo, near shopping, dining, employment centers, and major transportation routes.
Gas service is separately metered, while the owner pays water, electric, and trash. Public water and sewer serve the property. Zoned R-3, the fully leased building is located at 608 Baystate Ave in Pueblo, near shopping, dining, employment centers, and major transportation routes.
Key Highlights
- Four‑unit property with two studios, one 1 bed/1 bath unit, and one 2 bed/2 bath unit
- 2,604 square feet on 0.133 acres
- Recent interior updates include new floor coverings, paint, appliances, and white cabinetry
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
$21,315
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
5.34%
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%
$426,300
$426.3K
Cap Rate 7%
$304,500
$304.5K
Cap Rate 9%
$236,833
$236.8K
Market Conditions
NOI Build-Up for 2,604 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
$31.6K $12.12/SF
− Vacancy
−$1.1K −$0.43/SF
EGI
$30.4K $11.69/SF
− OpEx
−$9.1K −$3.51/SF
NOI
$21.3K $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%
$426,300
Cap Rate 7%
$304,500
Cap Rate 9%
$236,833
Alternative Uses
Best Use
Multifamily LT 5
$304.5K
$266.4K – $355.3K
NOI $21,315 @ 7.0% cap · market cap 5.34%
Second Best
Apartment 5plus
$274.3K
$240.0K – $320.0K
NOI $19,199 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$542.6K
$474.8K – $633.1K
NOI $37,984 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
744
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Remodeled multifamily property with updated interiors, public utilities, and separately metered gas service.
Where is this quadplex located?
The property is located at 608 Baystate Ave Pueblo, CO.
What is the asking price?
The asking price for this property is $399,500.
What are key features of this property?
This property features: Four‑unit property with two studios, one 1 bed/1 bath unit, and one 2 bed/2 bath unit; 2,604 square feet on 0.133 acres; Recent interior updates include new floor coverings, paint, appliances, and white cabinetry
