NOT LISTED FOR SALE
8 Beds
8 Baths
3,808 Sq Ft
8,276 Sq Ft Lot

Last Sold July 26, 2024

Last sale price $610,000 $160 Per Sq Ft

109 Days on Market

Highlights

  • No Units Above
  • Baseboard Heating
  • Evaporated cooling system
  • No HOA

About This Home

As of July 2024

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

Nic Polaski

Cushman & Wakefield Brokerage Email: Nic.Polaski@cushwake.com,719-238-9074 License #100099164 Listed on: 02/26/2024

Last Buyer's Agent

Brian Campbell

Coldwell Banker Commercial, NRT License #100072667

Coldwell Banker Commercial, NRT

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,623

Year Built

  • Built in 1980

Lot Details

  • No Units Above

Parking

  • 8 Parking Spaces

Home Design

  • Quadruplex
  • Frame Construction
  • Composition Roof

Interior Spaces

  • 3,808 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Bathrooms

Schools

  • Goodnight Elementary School
  • Bessemer Middle School
  • South High School

Utilities

  • Evaporated cooling system
  • Baseboard Heating

Community Details

  • No Home Owners Association
  • Beulah Subdivision

Listing and Financial Details

  • Tenant pays for electricity, water
  • Assessor Parcel Number 1-5-09-1-17-014

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,623

Year Built

Built in 1980

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Quadplex
  • Structure Type: Quadruplex
  • Levels: Two
  • Year Built: 1980
  • Above Grade Finished Sq Ft: 3808
  • Exclusions: None
  • Living Area: 3808
  • SubdivisionName: Beulah
  • Ownership: Individual
  • Property Attached Yn: Yes
  • ResoBuildingAreaSource: PublicRecords
  • REC_ExpectedActiveDate: 2024-02-26
  • REC_RVSpaces: 0
  • Ratio Close Price By Original Li: 0.96063
  • Attribution Contact: Nic.Polaski@cushwake.com,719-238-9074
  • Special Features: None

Interior Features

  • Common Walls: No One Above
  • Basement: No
  • Total Bedrooms: 8

Exterior Features

  • Roof: Composition
  • Construction Materials: Frame

Garage/Parking

  • Attached Garage: No
  • Total Parking Spaces: 8
  • REC_ParkingCount: 1

Utilities

  • Sewer: Public Sewer
  • Cooling: Evaporative Cooling
  • Heating: Baseboard

Condo/Co-op/Association

  • Association: No
  • Senior Community: No

Association/Amenities

  • REC_AssociationFee2Annual: 0.00
  • REC_AssociationFee3Annual: 0.00
  • REC_AssociationFeeAnnual: 0.00
  • REC_AssociationFeeTotalAnnual: 0.00

Schools

  • Middle Or Junior School: Bessemer

Lot Info

  • Parcel Number: 1-5-09-1-17-014
  • Building Area Total: 3808

Rental Info

  • Tenant Pays: Electricity, Water

Tax Info

  • Tax Year: 2022
  • Tax Annual Amount: 1623

MLS Schools

  • Elementary School: Goodnight
  • High School: South

Range of Values:

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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

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
Source: REcolorado®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: REcolorado®

MLS Number: 9031577

REcolorado®

APN: 1509117014