Five-Unit Apartment
For Sale
$460,000
624-626 W 11th St, Pueblo, CO 81003
Residential Income, Pueblo, CO
Property Size1,888 SF
Lot Size0.12 Acres
Price / SF$243.64
Days on Market93
Property Features for 624-626 W 11th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-5
Bedrooms
5
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 4, Bedroom 5, Bathroom 4, Bathroom 1, Bathroom 2, Bedroom 3, Bathroom 3, Bathroom 5, Bedroom 1, Bedroom 2
Window features
Double Pane Windows, Vinyl Frames
Patio and Porch features
Porch
Interior features
Ceiling Fan(s), Cable TV
Fencing
Fenced
Basement
Partial
Appliances
Dishwasher-Some, Refrigerator-All, Gas Range-Some, Electric Range-Some
Subdivision
Northside/Avenues
Lot features
Rock- Rear, Rock- Front
Elementary school
Pueblo City 60
Middle school
Pueblo City 60
High school
Pueblo City 60
Standard status
Active
APN
525433007
Size
1,888 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOT 8 BLK 44 COUNTY ADD
Tax Annual Amount
3243
Legal Description
LOT 8 BLK 44 COUNTY ADD
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
1903
Floors in Building
2
Number of units
5
Building materials
Frame, Wood Siding, Concrete, Copper Plumbing
Roof type
Composition
Listing Agency:
eXp Realty, LLC
(888) 440-2724
Listed By:
Dan Fortune · License #036166
(720) 515-9022
Added: Jun 10
Changed: Sep 6
Last Checked: Sep 10 at 1:06PM
MLS# 236796
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 R-5 apartment property contains five units within 1,888 square feet and dates to 1903. Unit interiors include ceiling fans and cable TV, while appliance packages vary among units with refrigerators, dishwashers, and gas or electric ranges. The improvements feature frame, wood siding, concrete, and copper plumbing, along with forced-air heating, composition roofing, and a porch.
The property is served by public water and public sewer and includes fencing around the site. Professionally managed operations and reported updates to the units are also part of the offering. Located in Pueblo, Colorado, the asset is identified within ZIP Code 81003.
The property is served by public water and public sewer and includes fencing around the site. Professionally managed operations and reported updates to the units are also part of the offering. Located in Pueblo, Colorado, the asset is identified within ZIP Code 81003.
Key Highlights
- Five‑unit apartment property
- 1,888 square feet on 0.121 acres
- R‑5 zoning
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
$13,920
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
3.03%
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%
$278,400
$278.4K
Cap Rate 7%
$198,857
$198.9K
Cap Rate 9%
$154,667
$154.7K
Market Conditions
NOI Build-Up for 1,888 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
$26.3K $13.92/SF
− Vacancy
−$972 −$0.52/SF
EGI
$25.3K $13.40/SF
− OpEx
−$11.4K −$6.03/SF
NOI
$13.9K $7.37/SF
Area
Pueblo, CO
Vacancy
3.70%
Lease Rate
$13.92 /SF/Yr
Expense Ratio
45.00%
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%
$278,400
Cap Rate 7%
$198,857
Cap Rate 9%
$154,667
Alternative Uses
Best Use
Apartment 5plus
$198.9K
$174.0K – $232.0K
NOI $13,920 @ 7.0% cap · market cap 3.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$393.4K
$344.3K – $459.0K
NOI $27,540 @ 7.0% cap · market cap 5.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,016
Businesses Nearby
Explore this area
Business Placement
Demographics for 81003, CO
15,169
Population
6,233
Households
2.4
Avg Household Size
38
Median Age
18%
College-Educated
80%
High-School Grad
12.2 sq mi
ZIP Area
1,243
Density / Sq Mi
$43,750
Median Household Income
$33,941
Median Earnings
$847
Median Rent
$178,600
Median Home Value
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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?
Apartment building - R-5 multifamily property with updated units, public utilities, and a fenced site in Pueblo.
Where is this apartment building located?
The property is located at 624-626 W 11th St Pueblo, CO.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Five‑unit apartment property; 1,888 square feet on 0.121 acres; R‑5 zoning
