Fourplex with Two-Bedroom
For Sale
$935,000
2831 Somerville Dr Unit A B C D, Fort Collins, CO 80526
Four-unit residential property with shared laundry and off-street parking near trails and open spaces.
Property Size3,131 SF
Price / SF$298.63
Days on Market22
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
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: Aug 8
Changed: Aug 29
Last Checked: Aug 29 at 7:31PM
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 separate units, each configured with two bedrooms and one bathroom. The property includes a shared laundry room for residents, along with off-street parking. Built in 1973, the building offers 3,131 square feet of residential space across its four-unit configuration.
The property is located in Fort Collins near open spaces, walking trails, and biking trails, with access to education, outdoor recreation, and area amenities. The address includes Units A, B, C, and D, supporting a clearly defined four-unit layout for residential income use.
The property is located in Fort Collins near open spaces, walking trails, and biking trails, with access to education, outdoor recreation, and area amenities. The address includes Units A, B, C, and D, supporting a clearly defined four-unit layout for residential income use.
Key Highlights
- Four‑unit property with four 2‑bedroom, 1‑bath units
- 3,131 square feet of residential space
- Shared on‑site laundry room
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
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 - Four-unit residential property with shared laundry and off-street parking near trails and open spaces.
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‑unit property with four 2‑bedroom, 1‑bath units; 3,131 square feet of residential space; Shared on‑site laundry room
