Updated Multifamily Property with
For Sale
$1,250,000
446 E 4th St, Loveland, CO 80537
Five-unit multifamily asset combining an updated house, two duplex buildings, and flexible former office configurations.
Property Size4,210 SF
Price / SF$296.91
Days on Market13
Property Features for 446 E 4th St
General Information
Standard status
Active
Size
4,210 SF
Property subtype
Multi-Family
Zoning
DT
Additional Details
Multifamily Units
5
Building Details
Year Built
1905
Listing Agency:
Real Broker, LLC DBA Real
(970) 227-1327
Listed By:
Nanci Garnand · License #40002714
Source:
Thestrohmangroup
Added: Aug 19
Changed: Aug 30
Last Checked: Aug 30 at 8:51PM
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 Real Broker, LLC DBA Real
Investment Insights
Based on property information with market context.
This multifamily property includes five rental units across an updated house and two duplex buildings on one lot. The 1905 house has received kitchen, appliance, and electrical improvements. A detached garage provides two separate spaces, while the grounds include a grass yard. The duplex residences offer living areas, kitchens, bedrooms, full bathrooms, mudroom entries, and designated washer-and-dryer areas. One Washington Street duplex unit has wood flooring, while the other features carpeting.
Located at 446 E 4th St in Downtown Loveland, the property is within Downtown Zoning and several development incentive districts, including the Enterprise Zone, Downtown Urban Renewal Area, General Improvement District #1, Historic Loveland BID, and Loveland DDA. The house and the duplex along E. 4th Street have previously served as office space, providing documented configuration flexibility. The Civic Center, library, restaurants, shopping, and downtown events are located nearby. Water is billed back to tenants.
Located at 446 E 4th St in Downtown Loveland, the property is within Downtown Zoning and several development incentive districts, including the Enterprise Zone, Downtown Urban Renewal Area, General Improvement District #1, Historic Loveland BID, and Loveland DDA. The house and the duplex along E. 4th Street have previously served as office space, providing documented configuration flexibility. The Civic Center, library, restaurants, shopping, and downtown events are located nearby. Water is billed back to tenants.
Key Highlights
- Five rental units on one lot: an updated house plus two duplex buildings
- 1905 house with kitchen, appliance, and electrical improvements
- Detached garage with 2 separate spaces and a grass yard
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
$43,333
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
3.47%
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%
$866,660
$866.7K
Cap Rate 7%
$619,043
$619.0K
Cap Rate 9%
$481,478
$481.5K
Market Conditions
NOI Build-Up for 4,210 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
$64.7K $15.36/SF
− Vacancy
−$2.8K −$0.66/SF
EGI
$61.9K $14.70/SF
− OpEx
−$18.6K −$4.41/SF
NOI
$43.3K $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%
$866,660
Cap Rate 7%
$619,043
Cap Rate 9%
$481,478
Alternative Uses
Best Use
Multifamily LT 5
$619.0K
$541.7K – $722.2K
NOI $43,333 @ 7.0% cap · market cap 3.47%
Second Best
Apartment 5plus
$572.4K
$500.9K – $667.8K
NOI $40,069 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$1.13M
$988.8K – $1.32M
NOI $79,102 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,715
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?
Multifamily property - Five-unit multifamily asset combining an updated house, two duplex buildings, and flexible former office configurations.
Where is this multifamily property located?
The property is located at 446 E 4th St Loveland, CO.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Five rental units on one lot: an updated house plus two duplex buildings; 1905 house with kitchen, appliance, and electrical improvements; Detached garage with 2 separate spaces and a grass yard
