Three-Unit Residential Income
For Sale
$849,000
209 N Roosevelt Ave, Fort Collins, CO 80521
Historic multifamily property with varied unit layouts, private outdoor areas, and proximity to CSU, shops, restaurants, and downtown amenities.
Property Size2,766 SF
Price / SF$306.94
Days on Market10
Property Features for 209 N Roosevelt Ave
General Information
Standard status
Active
Size
2,766 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1.5BA, 2 x 2BR/1BA
Multifamily Units
3
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Henderson Management & Real Estate
Listed By:
Erik Wysock 9706122524 · License #IREP21393
Source:
Searchhomesmetrodenver
Added: Aug 30
Changed: Sep 6
Last Checked: Sep 8 at 8:33AM
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 Henderson Management & Real Estate
Investment Insights
Based on property information with market context.
Built in 1900, this 2,766-square-foot triplex contains three distinct residences. The unit mix includes one three-bedroom, one-and-a-half-bath apartment with laundry and a private backyard, plus two two-bedroom, one-bath units. One of the two-bedroom residences is on the main level, while the other occupies the second floor.
Each unit has a deck or patio, providing dedicated outdoor space across the property. The home is located at 209 N Roosevelt Ave in Fort Collins, just north of CSU and near local shops, restaurants, and downtown Fort Collins. The configuration supports an income-producing residential use with flexibility for an owner-occupant or continued multifamily operation.
Each unit has a deck or patio, providing dedicated outdoor space across the property. The home is located at 209 N Roosevelt Ave in Fort Collins, just north of CSU and near local shops, restaurants, and downtown Fort Collins. The configuration supports an income-producing residential use with flexibility for an owner-occupant or continued multifamily operation.
Key Highlights
- Three‑unit residential property totaling 2,766 SF
- Unit mix includes one 3‑bedroom, 1.5‑bath unit and two 2‑bedroom, 1‑bath units
- Built in 1900
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
$37,004
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
4.36%
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%
$740,080
$740.1K
Cap Rate 7%
$528,629
$528.6K
Cap Rate 9%
$411,156
$411.2K
Market Conditions
NOI Build-Up for 2,766 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
$55.8K $20.16/SF
− Vacancy
−$2.9K −$1.05/SF
EGI
$52.9K $19.11/SF
− OpEx
−$15.9K −$5.73/SF
NOI
$37.0K $13.38/SF
Area
Fort Collins, CO
Vacancy
5.20%
Lease Rate
$20.16 /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%
$740,080
Cap Rate 7%
$528,629
Cap Rate 9%
$411,156
Alternative Uses
Best Use
Multifamily LT 5
$528.6K
$462.6K – $616.7K
NOI $37,004 @ 7.0% cap · market cap 4.36%
Second Best
Apartment 5plus
$490.6K
$429.2K – $572.3K
NOI $34,339 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$720.3K
$630.2K – $840.3K
NOI $50,419 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
360
Businesses Nearby
Explore this area
Business Placement
Demographics for 80521, CO
37,451
Population
15,121
Households
2.5
Avg Household Size
26
Median Age
63%
College-Educated
98%
High-School Grad
14.0 sq mi
ZIP Area
2,675
Density / Sq Mi
$52,679
Median Household Income
$15,918
Median Earnings
$1,412
Median Rent
$541,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Historic multifamily property with varied unit layouts, private outdoor areas, and proximity to CSU, shops, restaurants, and downtown amenities.
Where is this triplex located?
The property is located at 209 N Roosevelt Ave Fort Collins, CO.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Three‑unit residential property totaling 2,766 SF; Unit mix includes one 3‑bedroom, 1.5‑bath unit and two 2‑bedroom, 1‑bath units; Built in 1900
