108 Arthur St Pueblo, CO 81004

Property Details for 108 Arthur St

Year built

1965

Property type

Commercial real estate

APN

1174415

Description

This exceptional investment opportunity presents a well-maintained, 10-unit apartment building located at 108 Arthur Street in Pueblo, Colorado. The property, built in 1965, boasts a total of 7,086 square feet of net rentable space situated on a 7,492 square foot lot. The building is a three-story structure classified as a Class C multifamily property, currently operating at 100% occupancy with a stabilized investment profile. The property features nine studio apartments and one two-bedroom penthouse unit, offering a diverse mix of rental options. A significant portion of the tenant base (50%) has enjoyed long-term residency, exceeding six years. Recent improvements include a boiler replacement in 2021, and many units have undergone upgrades and remodeling. All units are currently leased under long-term agreements, incorporating a RUBS (Renters Utility Billing System) for efficient utility management. The average monthly rent is $850, ranging from $799 to $925, plus utilities. The property's strong performance is reflected in its current pro-forma NOI of $72,887 and a pro-forma cap rate of 7.33%. The asking price is $995,000, translating to $99,500 per unit. The property is zoned R3 and has an APN of 1174415. This is a prime investment opportunity in the desirable Aberdeen and Mesa Junction neighborhood, offering a solid return and potential for future appreciation. The 100% occupancy rate as of October 21, 2024, further underscores the property's strong performance and desirability.