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984 E Saxony Drive Apartments 984 E Saxony Dr

24 Unit Apartment Building $3,125,000 ($130,208/Unit) 6.13% Cap Rate Pueblo, CO 81007

Investment Highlights

  • Significant recent capital improvements with 24 unit renovations
  • On-site laundry, off-street parking
  • Central AC for all units
  • Opportunity to lower utility cost by shifting electric cost to tenants as leases roll over

Executive Summary

Cushman & Wakefield is pleased to present 984 E Saxony Drive, an exceptional and turn-key multifamily opportunity located in the heart of Pueblo West, Colorado. This well-maintained complex offers a desirable mix of (24) upgraded 2-bedroom units with strong in-place rents. Recent renovations to all 24 units ensure limited future capital expenditures, lowered maintenance expenses and increased tenant satisfaction, adding to the property’s long-term profitability & stability. Beyond the comfortable living spaces, 984 E Saxony Drive’s proximity near Hwy 50 & Purcell Blvd, provides easy access to major transportation and nearby amenities. Dining options such as Copper River & Reservoir Brewing, Outdoor recreation with Pueblo Reservoir, Civic Center Park and Dessert Hawk GC and two major grocery stores including Safeway and Walmart Supercenter. There is currently a limited supply of apartment units in Pueblo West, which will continue as the city plans to limit new construction into the future. Additionally, this property presents an enticing opportunity for potential investors to maximize returns through operational improvements. Investors can lower expenses by shifting utility cost back to tenants

Attachments

984 Saxony-OM-V5

Data Room Click Here to Access

Property Facts

Price $3,125,000
Price Per Unit $130,208
Sale Type Investment
Cap Rate 6.13%
No. Units 24
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 1.00 AC
Building Size 18,000 SF
Average Occupancy 100%
No. Stories 2
Year Built/Renovated 1974/2022
Parking Ratio 1.83/1,000 SF

Unit Amenities

  • Air Conditioning
  • Heating
  • Kitchen
  • Tub/Shower

Site Amenities

  • Laundry Facilities

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1 24 - 750

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
0-5-07-0-22-002
Land Assessment
$32,160
Improvements Assessment
$106,170
Total Assessment
$138,330

zoning

Zoning Code R5
R5
  • Listing ID: 32687892

  • Date on Market: 8/4/2024

  • Last Updated:

  • Address: 984 E Saxony Dr, Pueblo, CO 81007

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