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The Queens/Las Reinas 2101 N Queens Ave 24 Unit Apartment Building $3,561,246 CAD ($148,385 CAD/Unit) 7.37% 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. Possible Owner Carry short term for qualified buyer.
Financial Summary (Pro Forma - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$506,064
|
$18.60
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$50,605
|
$1.86
|
| Effective Gross Income |
$455,459
|
$16.74
|
| Taxes |
$18,558
|
$0.68
|
| Operating Expenses |
$79,083
|
$2.91
|
| Total Expenses |
$97,641
|
$3.59
|
| Net Operating Income |
$357,818
|
$13.15
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $506,064 |
| Annual Per SF | $18.60 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $50,605 |
| Annual Per SF | $1.86 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $455,459 |
| Annual Per SF | $16.74 |
| Taxes (CAD) | |
|---|---|
| Annual | $18,558 |
| Annual Per SF | $0.68 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $79,083 |
| Annual Per SF | $2.91 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $97,641 |
| Annual Per SF | $3.59 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $357,818 |
| Annual Per SF | $13.15 |
Property Facts
| Price | $3,561,246 CAD | Property Subtype | Apartment |
| Price Per Unit | $148,385 CAD | Apartment Style | Garden |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 7.37% | 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 | $3,561,246 CAD |
| Price Per Unit | $148,385 CAD |
| Sale Type | Investment |
| Cap Rate | 7.37% |
| 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 | $1,603 CAD | 850 - 900 |
Fairly walkable
40/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Total Assessment | $193,027 CAD (2024) | |
| Land Assessment | $0 CAD (2024) | Annual Taxes | $18,558 CAD ($0.68 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
$193,027 CAD (2024)
Annual Taxes
$18,558 CAD ($0.68 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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