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The Queens/Las Reinas 2101 N Queens Ave 24 Unit Apartment Building $4,015,050 CAD ($167,294 CAD/Unit) 6.61% Cap Rate Pueblo, CO 81001
INVESTMENT HIGHLIGHTS
- Spacious 2 bedroom apartments with private entry, back deck or patio, large kitchens, big windows and large closets. Large off-street parking spaces.
EXECUTIVE SUMMARY
6 separately parceled 4 plex buildings sharing common driveways on a corner lot, built in 1987 by a woman contractor showcasing large kitchens, large closets, spacious interiors and private balconies and patios. Excellent tenant base, in a great northeast Pueblo location close to I-25 and Pueblo airport. Tenant's rent includes heat, water/sewer, and household trash services. Tenants have separate electric meters/service. Every building has a hot water boiler providing heat and hot water on a house electric meter. New roofs October 2024. Zero landscaping.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$511,528
|
$18.80
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$51,152
|
$1.88
|
| Effective Gross Income |
$460,377
|
$16.92
|
| Taxes |
$18,759
|
$0.69
|
| Operating Expenses |
$79,937
|
$2.94
|
| Total Expenses |
$98,695
|
$3.63
|
| Net Operating Income |
$361,681
|
$13.29
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $511,528 |
| Annual Per SF | $18.80 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $51,152 |
| Annual Per SF | $1.88 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $460,377 |
| Annual Per SF | $16.92 |
| Taxes (CAD) | |
|---|---|
| Annual | $18,759 |
| Annual Per SF | $0.69 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $79,937 |
| Annual Per SF | $2.94 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $98,695 |
| Annual Per SF | $3.63 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $361,681 |
| Annual Per SF | $13.29 |
PROPERTY FACTS
| Price | $4,015,050 CAD | Property Subtype | Apartment |
| Price Per Unit | $167,294 CAD | Apartment Style | Garden |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.61% | Lot Size | 1.28 AC |
| Sale Condition | 1031 Exchange | Building Size | 27,214 SF |
| Gross Rent Multiplier | 8.63 | No. Stories | 2 |
| No. Units | 24 | Year Built | 1987 |
| Property Type | Multifamily | ||
| Zoning | R-4 - R-4 Multi family 4 residences. | ||
| Price | $4,015,050 CAD |
| Price Per Unit | $167,294 CAD |
| Sale Type | Investment |
| Cap Rate | 6.61% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 8.63 |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.28 AC |
| Building Size | 27,214 SF |
| No. Stories | 2 |
| Year Built | 1987 |
| Zoning | R-4 - R-4 Multi family 4 residences. |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Washer/Dryer
- Eat-in Kitchen
SITE AMENITIES
- Fenced Lot
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 24 | $1,620 CAD | 850 - 900 |
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $194,021 CAD (2024) | |
| Land Assessment | $0 CAD (2024) | Annual Taxes | $18,759 CAD ($0.69 CAD/SF) |
| Improvements Assessment | $0 CAD (2024) | Tax Year | 2025 Payable 2025 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$0 CAD (2024)
Improvements Assessment
$0 CAD (2024)
Total Assessment
$194,021 CAD (2024)
Annual Taxes
$18,759 CAD ($0.69 CAD/SF)
Tax Year
2025 Payable 2025
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Presented by
Carlsson Real Estate Inc
The Queens/Las Reinas | 2101 N Queens Ave
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