224 – 228 W 3rd St, Unit 7
Property Description
Welcome to this incredible mixed-use investment opportunity located in the heart of Historic Downtown Pueblo, with a 8% CAP. Just steps from the Arkansas Riverwalk, shopping, dining, entertainment, and all that downtown living has to offer. This unique income-producing property offers approximately 9,000 square feet of total rentable space, including approximately 2,000 square feet of commercial storefront space that has operated as a beauty college since 1946. The upper level has five apartments consisting of 3-2-bedroom units and 1-2 bedroom. Main floor has 2-2 bed units The residential units currently generate $7,100 per month in rental income alone. In addition, the owner is willing to guarantee $2,500 per month in commercial lease income for one full year, creating immediate stabilized income potential for investors and owner-operators alike. Major improvements include a new roof installed in 2022 and extensive remodeling completed between 2021-2022, featuring four off-street parking spaces, abundant on-street parking, and a paid city parking garage conveniently located directly across the street. Positioned directly across from the bus station and the Pueblo Bulls Ice Hockey Arena, this prime downtown location offers excellent visibility, accessibility, and long-term investment upside. Whether you are looking to expand your portfolio, operate a business, or invest in a stabilized mixed-use asset with strong rental income, this rare downtown Pueblo gem is a must have.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $998,500 |
| No. of Units: | 7 |
| Year Built: | 1900 |
| Lot Size: | 9,000.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $142,643 |
| Property Website | Click Here |
| Number of Bedrooms: | 6 |
| Number of Bathrooms: | 9 |
ID: 3yd-PARCO-236543
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