Fourplex with Shared
For Sale
$935,000
2831 Somerville Dr Unit A B C D, Fort Collins, CO 80526
Multifamily property with a consistent unit layout, resident laundry facilities, and off-street parking.
Property Size3,131 SF
Price / SF$298.63
Days on Market46
Property Features for 2831 Somerville Dr Unit A B C D
General Information
Standard status
Active
Size
3,131 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Amenities
shared on-site laundry room
Building Details
Year Built
1973
Listing Agency:
Peak Property Management
Listed By:
Lexi Walker 9703772717 · License #IREP01292
Source:
Housesofcoloradosprings
Added: Jul 25
Changed: Sep 4
Last Checked: Sep 8 at 9:02AM
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 Peak Property Management
Investment Insights
Based on property information with market context.
This fourplex contains four 2-bedroom, 1-bath residences, creating a consistent configuration across the property. A shared laundry room serves the units, and off-street parking is available on site. The building was constructed in 1973.
The property is located at 2831 Somerville Dr A, B, C, D in Fort Collins, Colorado. Open spaces, walking and biking trails, educational resources, and area amenities are identified in the surrounding context. The property records a bike score of 69, a walk score of 25, and a transit score of 32, reflecting bikeable access, car-dependent conditions, and some transit service.
The property is located at 2831 Somerville Dr A, B, C, D in Fort Collins, Colorado. Open spaces, walking and biking trails, educational resources, and area amenities are identified in the surrounding context. The property records a bike score of 69, a walk score of 25, and a transit score of 32, reflecting bikeable access, car-dependent conditions, and some transit service.
Key Highlights
- Four 2‑bedroom, 1‑bath units
- Shared on‑site laundry room
- Off‑street parking
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
$41,887
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
4.48%
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%
$837,740
$837.7K
Cap Rate 7%
$598,386
$598.4K
Cap Rate 9%
$465,411
$465.4K
Market Conditions
NOI Build-Up for 3,131 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
$63.1K $20.16/SF
− Vacancy
−$3.3K −$1.05/SF
EGI
$59.8K $19.11/SF
− OpEx
−$18.0K −$5.73/SF
NOI
$41.9K $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%
$837,740
Cap Rate 7%
$598,386
Cap Rate 9%
$465,411
Alternative Uses
Best Use
Multifamily LT 5
$598.4K
$523.6K – $698.1K
NOI $41,887 @ 7.0% cap · market cap 4.48%
Second Best
Apartment 5plus
$555.3K
$485.9K – $647.8K
NOI $38,870 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$815.3K
$713.4K – $951.2K
NOI $57,072 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
244
Businesses Nearby
Explore this area
Business Placement
Demographics for 80526, CO
45,624
Population
19,463
Households
2.3
Avg Household Size
35
Median Age
57%
College-Educated
98%
High-School Grad
32.0 sq mi
ZIP Area
1,426
Density / Sq Mi
$89,098
Median Household Income
$42,496
Median Earnings
$1,641
Median Rent
$520,500
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?
Quadplex - Multifamily property with a consistent unit layout, resident laundry facilities, and off-street parking.
Where is this quadplex located?
The property is located at 2831 Somerville Dr Unit A B C D Fort Collins, CO.
What is the asking price?
The asking price for this property is $935,000.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath units; Shared on‑site laundry room; Off‑street parking
