
Seller's Agent in 2024
Nic Polaski
Cushman & Wakefield
(719) 238-9074
3 in this area
24 Total Sales
8% In-Place Cap Rate. Available as a single 4 unit purchase or to purchase alongside 37 & 43 Royal Crest Drive. 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%.
Last Agent to Sell the Property
Cushman & Wakefield Brokerage Email: Nic.Polaski@cushwake.com,719-238-9074 License #100099164 Listed on: 02/26/2024
Date | Event | Price | Change | Sq Ft Price |
---|---|---|---|---|
07/26/2024 07/26/24 | Sold | $610,000 | 0.0% | $160 / Sq Ft |
06/15/2024 06/15/24 | Pending | -- | -- | -- |
05/13/2024 05/13/24 | For Sale | $610,000 | 0.0% | $160 / Sq Ft |
05/06/2024 05/06/24 | Pending | -- | -- | -- |
05/01/2024 05/01/24 | For Sale | $610,000 | 0.0% | $160 / Sq Ft |
04/02/2024 04/02/24 | Pending | -- | -- | -- |
02/27/2024 02/27/24 | Price Changed | $610,000 | -3.9% | $160 / Sq Ft |
02/26/2024 02/26/24 | For Sale | $635,000 | -- | $167 / Sq Ft |
Seller's Agent in 2024
Nic Polaski
Cushman & Wakefield
(719) 238-9074
3 in this area
24 Total Sales
Buyer's Agent in 2024
Brian Campbell
Coldwell Banker Commercial, NRT
(720) 217-9435
1 in this area
56 Total Sales
Source: REcolorado®
MLS Number: 9031577
APN: 1509117014