Duplex with Walkout Lower
1201-1203 Spruce Avenue Longmont, CO 80501
1201-1203 Spruce Avenue, Longmont, CO, 80501
$769,900
For Sale
$769,900
Two connected residential units offer separate living areas with fenced outdoor space and off-street parking for multiple vehicles.
Property Size2,425 SF
Price / SF$317.48
Days on Market37
Property Features for 1201-1203 Spruce Avenue
General Information
- Standard status
- Active
- Size
- 2,425 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1995
Listing Agency
RE/MAX Alliance-Longmont
(720) 232-8947
Listed by
Christopher Martinez · License #100040919
(720) 232-8947
Source
Exitrealty
Added: Jun 14 Checked: Jul 19 at 3:20 am
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 RE/MAX Alliance-Longmont
Investment Insights
Based on property information with market context.
This property is a two-story duplex-style home designed with two separate living areas connected by a lockable interior staircase. The upstairs portion includes four bedrooms and two full bathrooms, while the fully finished walkout lower level provides two bedrooms and one full bathroom.
Each living area has its own fenced outdoor space. Off-street parking is a notable feature, with room for up to eight vehicles, or six vehicles plus an RV, boat, or trailer. Additional updates include a newer roof and hot water heater, supporting a clean, well-maintained configuration.
Overall, the layout supports flexibility for occupants who want separation between levels while maintaining an internal connection between the two units.
Each living area has its own fenced outdoor space. Off-street parking is a notable feature, with room for up to eight vehicles, or six vehicles plus an RV, boat, or trailer. Additional updates include a newer roof and hot water heater, supporting a clean, well-maintained configuration.
Overall, the layout supports flexibility for occupants who want separation between levels while maintaining an internal connection between the two units.
Key Highlights
- Built in 1995: 6‑bedroom, 3 full‑bath two‑story home with a connected upstairs unit and a fully finished walkout lower‑level apartment
- Upstairs features 4 bedrooms and 2 full bathrooms; lower level features 2 bedrooms and 1 full bathroom with a lockable interior staircase connection
- Separate living areas each include their own fenced outdoor space for privacy and flexible use
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $42.2k | $17.40 |
| − Vacancy | −$2.3k | −$0.96 |
| EGI | $39.9k | $16.44 |
| − OpEx | −$12.0k | −$4.93 |
| NOI | $27.9k | $11.51 |
2,425 SF · lease $17.40/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$398.7K
$348.9K – $465.2K
NOI $27,909 @ 7.0% cap · market cap 3.63%
Second Best
Apartment 5plus
$366.1K
$320.4K – $427.2K
NOI $25,630 @ 7.0% cap · market cap 3.33%
Theoretical Best
Office B
$442.0K
$386.7K – $515.6K
NOI $30,937 @ 7.0% cap · market cap 4.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two connected residential units offer separate living areas with fenced outdoor space and off-street parking for multiple vehicles.
Where is this duplex located?
The property is located at 1201-1203 Spruce Avenue Longmont, CO.
What is the asking price?
The asking price for this property is $769,900.
What are key features of this property?
This property features: Built in 1995: 6‑bedroom, 3 full‑bath two‑story home with a connected upstairs unit and a fully finished walkout lower‑level apartment; Upstairs features 4 bedrooms and 2 full bathrooms; lower level features 2 bedrooms and 1 full bathroom with a lockable interior staircase connection; Separate living areas each include their own fenced outdoor space for privacy and flexible use
