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June 18, 2024
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Colorado Multifamily Comp Comes in at $100k/Unit


In a recent multifamily sales comp out of Colorado, Belmont Heights Apartments, a 36-unit multifamily community located in Pueblo, sold for $3.6 mil ($100k/unit). The City of Pueblo is approximately 45 miles south of Colorado Springs and 100 miles south of Denver.

Located at 1408-1424 E 21st St, Belmont Heights Apartments is a five-building complex featuring spacious floor plans, with select units also offering extra half-bathrooms and fireplaces, 20 townhome-style units, and outdoor courtyards.

Lee Wagner and Jeff Dimmen with Cushman & Wakefield represented the seller, Belmont Heights Apartments LLC. Pat Knowlton, also with C&W, repped the buyer, Anchor Belmont LLC. According to Knowlton, the buyer plans to continue to improve the property and hold long-term.

“The Pueblo region maintains resilient multifamily fundamentals, while investors and developers have shown further interest in the market over the last few years,” mentioned Director Lee Wagner.

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