984 Saxony Dr Pueblo West, CO 81007
- Commercial real estate
- 18,000 SF
Current Use by Public Records
- Commercial real estate
Property Details for 984 Saxony Dr
- Year built
- 1974
- Property size
- 18,000 SF
- Property type
- Commercial real estate
Description
This exceptional 24-unit apartment building in Pueblo West, Colorado, presents a compelling value-add investment opportunity. The property, built in 1974 and renovated in 2022, comprises three two-story buildings totaling 18,000 square feet, offering a mix of upgraded two-bedroom units. With a current occupancy rate of 92%, the property generates a strong NOI of $191,459, representing a 6.13% cap rate. Pro-forma projections indicate a significant increase in NOI to $236,158 and a 7.56% cap rate, highlighting the potential for enhanced profitability through operational improvements. The property boasts 44 parking spaces and benefits from its convenient location near Highway 50 and Purcell Boulevard, providing easy access to major transportation routes and amenities such as restaurants, recreational areas (including Pueblo Reservoir and Civic Center Park), and grocery stores (Safeway and Walmart). The limited supply of apartment units in Pueblo West, coupled with planned restrictions on new construction, further strengthens the property's long-term investment potential. The asking price is $3,125,000, translating to $130,208.33 per unit and $173.61 per square foot. This turnkey property offers immediate cash flow and significant upside potential for savvy investors seeking to capitalize on operational efficiencies and market demand.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pueblo West
- County
- Pueblo
- State
- Colorado
- Longitude
- -104.7017993
- Latitude
- 38.3167548
