Six-Unit Apartment
New
For Sale
$1,150,000
1701 Warren Ave, Longmont, CO 80501
The property offers a mix of two-bedroom and one-bedroom residences with carports, storage, parking, and select private balconies.
Property Size3,696 SF
Days on Market2
Property Features for 1701 Warren Ave
General Information
Standard status
Active
Size
3,696 SF
Property subtype
Commercial
Units
Unit Mix
5 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
6
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$6,984
Amenities
carports
storage
off-street parking
private balconies
Building Details
Building Size
3,696 SF
Year Built
1978
Units
6
Tenancy
Multi
Listing Agency:
MODUS Real Estate
Listed By:
Nik MacCarter · License #100049047
(303) 909-2900
Source:
Elliman
Added: Sep 15
Last Checked: Sep 15 at 2:40PM
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 MODUS Real Estate
Investment Insights
Based on property information with market context.
This six-unit apartment property in Longmont includes five two-bedroom, one-bath residences of approximately 830 square feet and one one-bedroom, one-bath residence of approximately 700 square feet. Six carports provide covered parking and additional storage, while off-street parking is allocated at two spaces per unit. Four residences also feature private balconies. Constructed in 1978, the building is occupied by long-term tenants and has been maintained as a residential community.
The property is located near parks, a golf course, fitness facilities, coffee shops, Longmont High School, and everyday retail. Walk Score is 61, Bike Score is 62, and Transit Score is 36, reflecting a somewhat walkable location with bike access and some transit service.
The property is located near parks, a golf course, fitness facilities, coffee shops, Longmont High School, and everyday retail. Walk Score is 61, Bike Score is 62, and Transit Score is 36, reflecting a somewhat walkable location with bike access and some transit service.
Key Highlights
- Six‑unit apartment property with five two‑bedroom units and one one‑bedroom unit
- Five two‑bedroom / one‑bath units are approximately 830 square feet
- One one‑bedroom / one‑bath unit is approximately 700 square feet
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
$39,064
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
3.40%
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%
$781,280
$781.3K
Cap Rate 7%
$558,057
$558.1K
Cap Rate 9%
$434,044
$434.0K
Market Conditions
NOI Build-Up for 3,696 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
$75.4K $20.40/SF
− Vacancy
−$4.4K −$1.18/SF
EGI
$71.0K $19.22/SF
− OpEx
−$32.0K −$8.65/SF
NOI
$39.1K $10.57/SF
Area
Weld County, CO
Vacancy
5.80%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$781,280
Cap Rate 7%
$558,057
Cap Rate 9%
$434,044
Alternative Uses
Best Use
Apartment 5plus
$558.1K
$488.3K – $651.1K
NOI $39,064 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office B
$673.6K
$589.4K – $785.9K
NOI $47,152 @ 7.0% cap · market cap 4.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,177
Businesses Nearby
Explore this area
Business Placement
Demographics for 80501, CO
42,822
Population
19,173
Households
2.2
Avg Household Size
38
Median Age
39%
College-Educated
89%
High-School Grad
12.6 sq mi
ZIP Area
3,399
Density / Sq Mi
$77,705
Median Household Income
$42,599
Median Earnings
$1,586
Median Rent
$461,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Apartment building - The property offers a mix of two-bedroom and one-bedroom residences with carports, storage, parking, and select private balconies.
Where is this apartment building located?
The property is located at 1701 Warren Ave Longmont, CO.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Six‑unit apartment property with five two‑bedroom units and one one‑bedroom unit; Five two‑bedroom / one‑bath units are approximately 830 square feet; One one‑bedroom / one‑bath unit is approximately 700 square feet
