168 Lincoln Ave Loveland, CO 80537

This exceptional 21-unit apartment building, located at 168 S Lincoln Ave in Loveland, Colorado, presents a compelling investment opportunity. Built in 1935 and boasting 8,270 square feet on a 1.01-acre lot, the property offers a strong current NOI of $189,905, translating to a 7.17% cap rate and a $2,650,000 asking price. A pro-forma NOI of $230,694 projects an 8.71% cap rate, highlighting significant upside potential. Recent capital expenditures include a brand-new roof (August 2024), boiler replacements (within the past two years), new windows (within the past year), and a new sewer line. Nineteen of the twenty-one units have undergone recent updates, including flooring, paint, plumbing, and bathroom remodels. The property benefits from ample off-street parking and on-site laundry facilities. Situated in a prime location, just blocks from downtown and the Foundry mixed-use development, this property enjoys proximity to shopping, dining, and entertainment. Zoned R3e, the property allows for diverse development options, including townhouses, multiplexes, duplexes, and infill multifamily projects, further enhancing its investment appeal. The price per unit is $126,190.48, and the price per square foot is $320.44. This property offers a blend of immediate cash flow and significant long-term development potential in a thriving Colorado community.