108 Arthur StPueblo, CO 81004
- Residential income properties
Property Details for 108 Arthur St
- Year built
- 1965
- Property type
- Residential income properties
- Property subtype
- Multifamily properties
Description
This exceptional investment opportunity presents a well-maintained, 10-unit apartment building located at 108 Arthur Street in Pueblo, Colorado. The property, built in 1965, boasts a total of 7,086 square feet of net rentable space situated on a 7,492 square foot lot. The building is a three-story structure classified as a Class C multifamily property, currently operating at 100% occupancy with a stabilized investment profile. The property features nine studio apartments and one two-bedroom penthouse unit, offering a diverse mix of rental options. A significant portion of the tenant base (50%) has enjoyed long-term residency, exceeding six years. Recent improvements include a boiler replacement in 2021, and many units have undergone upgrades and remodeling. All units are currently leased under long-term agreements, incorporating a RUBS (Renters Utility Billing System) for efficient utility management. The average monthly rent is $850, ranging from $799 to $925, plus utilities. The property's strong performance is reflected in its current pro-forma NOI of $72,887 and a pro-forma cap rate of 7.33%. The asking price is $995,000, translating to $99,500 per unit. The property is zoned R3 and has an APN of 1174415. This is a prime investment opportunity in the desirable Aberdeen and Mesa Junction neighborhood, offering a solid return and potential for future appreciation. The 100% occupancy rate as of October 21, 2024, further underscores the property's strong performance and desirability.
Location Insight
- City
- Pueblo
- County
- Pueblo
- State
- Colorado
- Latitude
- 38.2678
- Longitude
- -104.633
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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