Renovated Eight-Unit Townhome
For Sale
Contact for pricing
3035 17th Ave, Longmont, CO 80503
Fully renovated eight-unit townhome building with private patios and in-unit laundry, featuring updated roofs, windows, HVAC, and water heaters.
Property Size6,912 SF
Lot Size0.27 Acres
Price / SF$273.44
Days on Market163
Property Features for 3035 17th Ave
General Information
Standard status
Active
Size
6,912 SF
Class
B
Total Parking Spaces
20
Lot size
0.27 Acres
Property subtype
Multifamily
Zoning
R-MF
Net Operating Income
$118,215
Additional Details
Multifamily Units
8
Amenities
private back patios
in-unit laundry
Building Details
Year Built
1975
Buildings
2
Stories
2
Units
8
Construction
Brick
Listing Agency:
Kaufman Hagan Commercial Real Estate
Listed By:
Brandon Kaufman · License #FA100071442
(303) 547-7357
Source:
Crexi
Added: Mar 30
Changed: Aug 24
Last Checked: Sep 8 at 7:27AM
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 Kaufman Hagan Commercial Real Estate
Investment Insights
Based on property information with market context.
This fully renovated eight-unit townhome property consists of two two-story buildings constructed of brick with pitched roofs. Recent capital improvements include new roofs, windows, exterior finishes, electrical panels, HVAC systems, and water heaters. Each unit has been entirely renovated with modern interiors, offers a private back patio, and includes in-unit laundry.
The property provides surface parking with 20 spaces and is served by individual utilities (water and sewer) with master electric/gas noted as individual. Zoning is listed as R-MF.
The asset is positioned as residential income housing with two buildings totaling eight units, offering a straightforward, low-complexity configuration for property management and leasing operations.
The property provides surface parking with 20 spaces and is served by individual utilities (water and sewer) with master electric/gas noted as individual. Zoning is listed as R-MF.
The asset is positioned as residential income housing with two buildings totaling eight units, offering a straightforward, low-complexity configuration for property management and leasing operations.
Key Highlights
- Fully renovated 8‑unit townhome building (2 buildings, 2 stories) built in 1975 in Boulder County
- Capital improvements include new roofs, windows, exterior finishes, electrical panels, HVAC systems, and water heaters
- Each unit features private back patios and in‑unit laundry
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
$73,055
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
3.87%
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%
$1,461,100
$1.5M
Cap Rate 7%
$1,043,643
$1.0M
Cap Rate 9%
$811,722
$811.7K
Market Conditions
NOI Build-Up for 6,912 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
$141.0K $20.40/SF
− Vacancy
−$8.2K −$1.18/SF
EGI
$132.8K $19.22/SF
− OpEx
−$59.8K −$8.65/SF
NOI
$73.1K $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%
$1,461,100
Cap Rate 7%
$1,043,643
Cap Rate 9%
$811,722
Alternative Uses
Best Use
Apartment 5plus
$1.04M
$913.2K – $1.22M
NOI $73,055 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office B
$1.26M
$1.10M – $1.47M
NOI $88,180 @ 7.0% cap · market cap 4.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
278
Businesses Nearby
Explore this area
Business Placement
Demographics for 80503, CO
35,863
Population
15,508
Households
2.3
Avg Household Size
44
Median Age
60%
College-Educated
97%
High-School Grad
91.7 sq mi
ZIP Area
391
Density / Sq Mi
$118,465
Median Household Income
$55,417
Median Earnings
$1,843
Median Rent
$704,800
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?
Apartment building - Fully renovated eight-unit townhome building with private patios and in-unit laundry, featuring updated roofs, windows, HVAC, and water heaters.
Where is this apartment building located?
The property is located at 3035 17th Ave Longmont, CO.
What is the asking price?
The asking price for this property is $1,890,000.
What are key features of this property?
This property features: Fully renovated 8‑unit townhome building (2 buildings, 2 stories) built in 1975 in Boulder County; Capital improvements include new roofs, windows, exterior finishes, electrical panels, HVAC systems, and water heaters; Each unit features private back patios and in‑unit laundry
