984 Saxony DrPueblo West, CO 81007

Property Details for 984 Saxony Dr

Year built

1974

Property size (Sq ft)

18,000 SF

Property type

Residential income properties

Property subtype

Multifamily properties

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.

Location Insight

City

Pueblo West

County

Pueblo

State

Colorado

Latitude

38.3168

Longitude

-104.702

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