Brick Quadplex with Individual
For Sale
Under Contract
$850,000
1008 Cimmeron Dr, Loveland, CO 80537
Residential Income, Loveland, CO
Property Size4,419 SF
Lot Size0.36 Acres
Price / SF$192.35
Days on Market19
Property Features for 1008 Cimmeron Dr
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3E
Bedrooms
8
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 7, Bedroom 6, Bedroom 8, Bathroom 6, Bedroom 3, Bedroom 5, Bathroom 2, Bathroom 3, Bathroom 5, Basement, Bathroom 1, Bathroom 4, Bedroom 4, Bedroom 1, Bedroom 2
Parking
8
Patio and Porch features
Deck
Exterior features
Sprinkler System
Basement
Full, Partially Finished, Walk-Out Access
Appliances
All Units Furnished, Fire Alarm
Subdivision
West Mount Acres
Lot features
Sloping Lot, City Limits, Paved, Alley, Fire Hydrant within 500 Feet
View
City
Elementary school
Garfield
Middle school
Bill Reed
High school
Thompson Valley
Elementary school district
Thompson R2-J
Middle school district
Thompson R2-J
High school district
Thompson R2-J
Directions
From N Taft Ave head west on 34 W Eisenhower Blvd. Turn left (south) onto N Van Buren Ave. Turn right (west) onto Longs Peak Dr. Turn right onto Cimmeron Dr.
Standard status
Active Under Contract
APN
R0408085
Size
4,419 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4875
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Cooling system
Central Air, Wall/Window Unit(s), Window Unit(s)
Amenities
shared courtyard
washer and dryer
Building Details
Year built
1976
Floors in Building
2
Number of units
4
Building materials
Brick
Roof type
Composition
Architectural style
Contemporary
Additional Structures
Storage
Listing Agency:
C3 Real Estate Solutions, LLC
(970) 225-5152
Listed By:
Travis Annameier
(970) 380-4163
Added: Aug 19
Changed: Sep 3
Last Checked: Sep 6 at 8:06AM
MLS# 1066779
Copyright © 2026 IRES MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,419-square-foot quadplex contains four furnished two-bedroom units, including two with two bathrooms and two with one bathroom. The 1976 property has a durable brick exterior, a composition roof, hot water heating, and a mix of central air and window or wall units. Several kitchens and bathrooms have been updated, while each residence includes its own washer and dryer and garage space.
The property occupies 0.36 acres at 1008 Cimmeron Dr in Loveland, with public sewer service, cable availability, sprinkler irrigation, and a shared courtyard with deck space. Electric is separately metered, with residents paying their own electric and trash expenses; ownership covers water, sewer, and gas. All four units are currently rented to established long-term tenants.
The property occupies 0.36 acres at 1008 Cimmeron Dr in Loveland, with public sewer service, cable availability, sprinkler irrigation, and a shared courtyard with deck space. Electric is separately metered, with residents paying their own electric and trash expenses; ownership covers water, sewer, and gas. All four units are currently rented to established long-term tenants.
Key Highlights
- Four‑unit quadplex totaling 4,419 square feet
- 0.36‑acre property at 1008 Cimmeron Dr, Loveland, CO 80537
- Each unit has two bedrooms and an individual garage space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,484
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$909,680
$909.7K
Cap Rate 7%
$649,771
$649.8K
Cap Rate 9%
$505,378
$505.4K
Market Conditions
NOI Build-Up for 4,419 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$67.9K $15.36/SF
− Vacancy
−$2.9K −$0.66/SF
EGI
$65.0K $14.70/SF
− OpEx
−$19.5K −$4.41/SF
NOI
$45.5K $10.29/SF
Area
Larimer County, CO
Vacancy
4.27%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$909,680
Cap Rate 7%
$649,771
Cap Rate 9%
$505,378
Alternative Uses
Best Use
Multifamily LT 5
$649.8K
$568.6K – $758.1K
NOI $45,484 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$600.8K
$525.7K – $701.0K
NOI $42,058 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$1.19M
$1.04M – $1.38M
NOI $83,029 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
643
Businesses Nearby
Explore this area
Business Placement
Demographics for 80537, CO
43,603
Population
20,314
Households
2.1
Avg Household Size
44
Median Age
37%
College-Educated
95%
High-School Grad
122.4 sq mi
ZIP Area
356
Density / Sq Mi
$83,746
Median Household Income
$44,448
Median Earnings
$1,630
Median Rent
$460,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased multifamily property with updated interiors, individual garages, and shared courtyard.
Where is this quadplex located?
The property is located at 1008 Cimmeron Dr Loveland, CO.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Four‑unit quadplex totaling 4,419 square feet; 0.36‑acre property at 1008 Cimmeron Dr, Loveland, CO 80537; Each unit has two bedrooms and an individual garage space
