1427 E Evans Ave
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1427 E Evans Ave
11 Unit Apartment Building $900,000 ($81,818/Unit) 7.03% Cap Rate Pueblo, CO 81004
Investment Highlights
- 6 of 11 units newly updated
- Under $82,000 per Door
- Value Add Opportunity with Existing Cash Flow
- 7+ Current Cap Rates; Can get to 9+ Cap Rate on Pro-formas
Executive Summary
Located in the Bessemer neighborhood of Pueblo, Colorado, the subject
property is an 11-unit value-add multifamily opportunity. This property is situated
in a stable up-and-coming neighborhood that enjoys Lake Minnequa just minutes
away to the southwest. The current owner has upgraded four of the units with a
fifth underway. Substantial room left to continue to push rents to market. Unit mix
includes one 2Br/1Ba, nine 1Br/1Ba units, and one studio. The property offers
ample parking in the back with access through the alley, as well as ample street
parking in the front.
property is an 11-unit value-add multifamily opportunity. This property is situated
in a stable up-and-coming neighborhood that enjoys Lake Minnequa just minutes
away to the southwest. The current owner has upgraded four of the units with a
fifth underway. Substantial room left to continue to push rents to market. Unit mix
includes one 2Br/1Ba, nine 1Br/1Ba units, and one studio. The property offers
ample parking in the back with access through the alley, as well as ample street
parking in the front.
Property Facts
| Price | $900,000 | Apartment Style | Low Rise |
| Price Per Unit | $81,818 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.27 AC |
| Cap Rate | 7.03% | Building Size | 8,382 SF |
| No. Units | 11 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1920 |
| Property Subtype | Apartment | Parking Ratio | 1.67/1,000 SF |
| Price | $900,000 |
| Price Per Unit | $81,818 |
| Sale Type | Investment |
| Cap Rate | 7.03% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 8,382 SF |
| No. Stories | 2 |
| Year Built | 1920 |
| Parking Ratio | 1.67/1,000 SF |
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 9 | - | - |
| 2+1 | 1 | - | - |
1 of 1
Walk Score ®
Very Walkable (70)
PROPERTY TAXES
| Parcel Number | 1-5-12-1-09-010 | Improvements Assessment | $36,430 |
| Land Assessment | $12,060 | Total Assessment | $48,490 |
PROPERTY TAXES
Parcel Number
1-5-12-1-09-010
Land Assessment
$12,060
Improvements Assessment
$36,430
Total Assessment
$48,490
zoning
| Zoning Code | B4 |
| B4 |
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1427 E Evans Ave
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