Value-Add Multifamily Community in Pueblo Sells for $3.6M

Belmont Heights Apartments, courtesy of Cushman & Wakefield.

Belmont Heights Apartments, a 36-unit multifamily community in Pueblo, has sold to Anchor Belmont LLC for $3.6 million, or $100,000 per unit.

Cushman & Wakefield’s Multifamily Investment Services team in Colorado Springs represented both the buyer and the seller,  Belmont Heights Apartments LLC, in the transaction. The team’s Lee Wagner and Jeff Dimmen represented the seller, and the team’s leader Pat Knowlton represented the buyer.

“Belmont Heights Apartments is a good quality multifamily value-add investment opportunity consisting of an attractive unit mix of 16 one-bedroom, 16 two-bedroom, and four three-bedroom units. The buyer plans to continue to improve the property and hold long-term,” said Executive Director Pat Knowlton.

“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.

Located at 1408-1224 E 21st Street, 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.

The City of Pueblo is approximately 45 miles south of Colorado Springs and 100 miles south of Denver.

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