Address
37, Pueblo, CO
Price
$ 1,830,000
Property Attributes
- MLS#8795445
- TypePending
- CountyPUEBLO
- CityPueblo
- Zip81005
- StyleLow Rise (1-3)
- Year Built1979
- Taxes$ 1623
- Price$ 1,830,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage11424
- Lot Size0.57 Acres
Data Source:
REColorado (MTOMLS)
Property Description
8% In-Place Cap Rate. Also available for individual purchase. C&W is pleased to present the Royal Crest Apartments. This opportunity consists of (3) identically constructed quads in Pueblo, CO. This opportunity is primed for an investor looking to benefit from solid in-place returns as well as reap the reward of continuing to increase rents to market level. The properties offer spacious, townhome style 2-bedroom, 1 ½-bathroom apartment homes with private patios and off-street parking. The properties benefit from their close proximity to several employers including Wal-Mart, Starbucks, Verizon, Discount Tire and various dining & retail. Additionally, the properties are adjacent to nearby parks and suburban neighborhoods such as Kaden C Burger Sports Complex, Pueblo South Football Field & Lehigh Park. Royal Crest Apartments are perfectly positioned to capitalize on the limited supply and high rental demand in the Pueblo market. The attractiveness of these assets is magnified by the limited number of performing properties available in this market. Recent Renovations: Roughly 75% of the units at Royal Crest Apartments have undergone recent renovations. Updates include new LVP flooring and fresh paint throughout. Several units have received new bathroom vanities, tile tub surrounds and updated lighting. These improvements not only increase rental rates and tenant satisfaction but also contribute to the property’s long-term value. Turn-key Investment: Current management has positioned these properties with great in-place rents, immediate cash flow and predictable returns. Tenants are responsible for all utilities including water, sewer and trash affording the owner net-zero utility expense. Investors have the opportunity to take advantage of current management offering to stay in-place for a highly competitive fee of 5%.
| Price History | |
|---|---|
| 7/3/2023 | Listed $2,840,000 |
| 9/1/2023 | 2% - $2,790,000 |
| 9/29/2023 | 5% - $2,660,000 |
| 10/13/2023 | 25% - $1,995,000 |
| 11/2/2023 | 2% - $1,965,000 |
| 11/17/2023 | 3% - $1,920,000 |
| 2/28/2024 | 5% - $1,830,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Utilities | Electricity Available,Natural Gas Available |
| Possession | Closing/DOD |
| Roof | Composition |
| Zoning | R-4 |
| Year Built | 1979 |
| Tenant Pays | Electricity,Gas,Trash Collection,Water |
| Stories | 2 |
| Property SubType | Multi-Family |
| Tax Year | 2022 |
| Current Use | Multi-Family |
| County | Pueblo |
| Property Type | Commercial Sale |
| Attached Garage | No |
| Contingency | None Known |
| Status | Pending |
| City | Pueblo |
| Buyer Agent Compensation | 1.5 |
| Total Units | 12 |
| Lot Size Square Feet | 24738 |
| Street Name | Royal Crest |
| Listing Terms | Cash,Conventional |
| Tax Annual Amount | 1623 |
| Structure Type | Low Rise (1-3) |
| Standard Status | Pending |
| Occupancy Description | Tenant (Multiple) |
| Cap Rate | 7.69 |
| Buyer Agent Compensation Type | % |
Interior Features
| Street Suffix | Drive |
|---|
Exterior Features
| Water Source | Public |
|---|---|
| Total Parking | 24 |
| Lot Size Area | 24738 |
| Building Area Total | 11424 |
| Lot Size Acres | 0.57 |
| Road Surface Type | Paved |
| Lot Size Units | Square Feet |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Pending Average in 81005
Price
Taxes
Visits
Year Built
Walkscore
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