Property Overview
PURE CASH FLOW PLAY 16% Cap Rate
Triplex 1 Block from Downtown Pueblo
This three-unit property features two 1-bed/1-bath units and a detached studio, each with private entrances. Located in a high-demand, walkable area of Pueblo with a solid rental history. The property will be delivered vacant, allowing for immediate renovation or repositioning. If you want to discuss existing tenants staying we can arrange that conversation for you.
NOI = Annual Rent – Operating Expenses
Existing condition monthly rent is $2700×12=$32,500 per year
Operating Expenses = $32,400 × 30% = $9,720
NOI = $32,400 – $9,720 = $22,680
Cap Rate 11%
- Solid Spread at Entry
Offered at $120,000 with an estimated (optional) $20,000 rehab, this project lands around $140,000.00 all-in. Post-rehab rent projections exceed the existing $2,700/month range, supporting a 16%+ cap rate or solid flip margins depending on your exit strategy. - Vacant at Close
No eviction timelines or tenant delays. All units will be delivered vacant. The owner has provided verbal notice to current tenants, and access will be coordinated for due diligence. - Defined Rehab Scope (optional)
- 2 kitchens and 2 baths (studio has a kitchenette)
- Full cosmetic updates across all units
- 14 windows to replace
- Flooring, interior paint, exterior touch-ups
- Studio roof needs attention
- Removal of original octopus furnace and replacement
- 2 hot water heaters budgeted
- Contingency + $13K structural quote (already in hand)
- Structure Already Vetted
Studio has extensive visible cracking but a licensed structural engineer confirmed only foam injection is needed – $13K total. This avoided major foundation concerns and helps keep total rehab costs reasonable. - Prime Rental Location
Just one block off downtown Pueblo. Walkable, easy to rent, and historically low vacancy. This location supports both long-term holds and flips with retail buyer appeal.
- Upper Unit (1/1) – Best condition, minimal work
- Lower Unit (1/1) – Standard cosmetic updates optional, if completed you would get more rent
- Studio – Heaviest lift, needs structural reinforcement and roof attention eventually. $20k budget included in our 16%Cap rate numbers
- Basement Original furnace
- AC – Window units only
- Layout – Separate entrances, large corner lot, no garage
- Purchase Price: $120,000
- Rehab Budget: $20,000
- All-In Cost: ~$140,000
- Rent: ~$2,700/month
- Cap Rate Potential: 16%
- Exit Strategy: Flip or rental hold
This is a straightforward triplex play in a proven rental pocket. Vacant at close, defined rehab scope, and strong market fundamentals make it a solid addition to your portfolio. Let us know if you want walk-through access or marketing materials.
Video Walkthrough
Once complete, this Pueblo triplex will feature three fully updated units—ideal for long-term rentals or a strategic resale. The renovation includes new flooring throughout, modernized kitchens and bathrooms, fresh interior paint, updated windows, and a full mechanical overhaul including the removal and replacement of the original furnace. Structural concerns have been professionally addressed and resolved. With all units delivered vacant at close, this will be a clean, turnkey asset in a high-demand rental area just minutes from downtown Pueblo.
Closing is scheduled for 10/13/2025.
Property is currently tenant occupied and seller does not have a firm date that tenant will be out. Close will be ten business days after seller has legal possession of the property. Seller will be responsible for taking actions and paying any expenses for tenant leaving the property. If buyer will be involved in tenant leaving property or any eviction proceedings a separate document will be attached to this Agreement outlining the role of buyer and seller. If buyer wants to keep the existing tenant we can arrange your conversation to keep them.
