All-Brick Four-Unit
For Sale
$850,000
Pending
1008 Cimmeron Drive, Loveland, CO 80537
Fully leased residential income property with individual garages, shared courtyard, and in-unit laundry.
Property Size4,419 SF
Days on Market57
Property Features for 1008 Cimmeron Drive
General Information
Standard status
Pending
Size
4,419 SF
Total Parking Spaces
4
Property subtype
Quadruplex
Occupancy
100%
Units
Unit Mix
3 x 2BR/1BA, 1 x 2BR/2BA
Multifamily Units
4
Parking per Unit
1
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$4,875
Amenities
shared courtyard
washer/dryer
Building Details
Building Size
4,419 SF
Year Built
1976
Construction
brick
Tenancy
Multi
Listing Agency:
C3 Real Estate Solutions, LLC
Listed By:
Travis Annameier
(970) 225-5154
Source:
Eliselosassore
Added: Aug 19
Changed: Oct 10
Last Checked: Oct 13 at 3:51AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of C3 Real Estate Solutions, LLC
Investment Insights
Based on property information with market context.
Built in 1976, this all-brick quadplex contains four two-bedroom units. One apartment has two bathrooms, while the other three each have one bathroom. Every unit includes a dedicated garage space, its own washer and dryer, and separately metered electric service. Several kitchens and bathrooms have been updated, and hot water heat serves the property throughout.
The property is fully rented to four long-term tenants. Residents pay their own electric and trash expenses, while the owner pays water, sewer, and gas. A shared courtyard and landscaped grounds provide common outdoor space, with additional parking supporting the individual garage spaces. The property is located at 1008 Cimmeron Dr in Loveland, Colorado.
The property is fully rented to four long-term tenants. Residents pay their own electric and trash expenses, while the owner pays water, sewer, and gas. A shared courtyard and landscaped grounds provide common outdoor space, with additional parking supporting the individual garage spaces. The property is located at 1008 Cimmeron Dr in Loveland, Colorado.
Key Highlights
- Four two‑bedroom units with a 2‑bathroom and 1‑bathroom unit mix
- Dedicated garage space for each unit plus additional parking
- All‑brick exterior with several updated kitchens and bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,484
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
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
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 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.
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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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased residential income property with individual garages, shared courtyard, and in-unit laundry.
Where is this quadplex located?
The property is located at 1008 Cimmeron Drive 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 two‑bedroom units with a 2‑bathroom and 1‑bathroom unit mix; Dedicated garage space for each unit plus additional parking; All‑brick exterior with several updated kitchens and bathrooms
