1936 Vinewood Ln Pueblo, CO 81005

Property Details for 1936 Vinewood Ln

Lot size

0.94 lot acres

Property size

31,176 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a portfolio of three apartment buildings totaling 36 units situated in Pueblo, Colorado. The properties, located at 1936 & 2018 Vinewood Lane and 1691 Moore Avenue, comprise three 12-unit buildings, featuring a mix of one- and two-bedroom units. Built in 1972, these Class C properties boast a combined 31,176 square feet and sit on a 0.94-acre lot, zoned R-5. The portfolio benefits from significant recent capital improvements, including new boilers, sewer lines, exterior paint, gutters, mansards, entry doors with electronic codes, and updated interior finishes in over 60% of the units. These renovations, encompassing new LVT entryways, AC units, appliances, flooring, carpet, and LVT in renovated units, provide a proven value-add strategy for future owners. The current NOI is $235,120, with a pro-forma NOI of $266,516, yielding a 7.58% cap rate and a pro-forma cap rate of 8.60%. Offered at $3,100,000, this represents a compelling price per unit of $86,111.11 and a price per square foot of $99.44. This portfolio offers a strong current return with significant upside potential through continued unit renovations. The properties are well-maintained and present a rare opportunity to acquire a substantial multifamily asset in a growing market.