Longmont Four-Unit Investment
For Sale
$750,000
316 21st Ave, Longmont, CO 80501
Four spacious units with in-unit laundry and attached garages.
Property Size3,689 SF
Days on Market149
Property Features for 316 21st Ave
General Information
Standard status
Active
Size
3,689 SF
Property subtype
Multifamily
Occupancy
95%
Amenities
Four spacious 2-bed units with garages and in-unit laundry; below-market rents create strong potential for income growth and higher returns for investors.
Close to Horizon Park retail hub and major employers like Seagate and UCHealth; Longmont's thriving economy and limited new supply ensure long-term rental demand.
Fee-simple ownership in a stable market with strong rent growth; property offers clear value-add opportunities and attractive projected returns for savvy buyers.
Building Details
Building Size
3,689 SF
Units
4
Listing Agency:
(303) 328-2069
Listed By:
David J. Bomgaars · License #License(s): CO: FA100104456
(303) 328-2069
Source:
Marcusmillichap
Added: Apr 3
Changed: Aug 8
Last Checked: Jul 16 at 11:32AM
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 David J. Bomgaars
Investment Insights
Based on property information with market context.
The property at 316 21st Ave in Longmont, CO, presents a four-unit investment opportunity. It features four spacious 2-bedroom units, each equipped with in-unit washer and dryer and attached garages. The property is suitable for an owner-user or an investor seeking a long-term, value-add asset. Garage parking and below-market rents offer avenues for income growth. The location is near Horizon Park, a retail center anchored by King Soopers, with co-tenants such as Dollar Tree, Planet Fitness, and Big Lots, benefiting from local consumer traffic and convenience. Longmont’s labor market is supported by expanding sectors such as retail, advanced manufacturing, and professional services, and major employers including Seagate and UC Health, strengthening the property’s investment profile.
Key Highlights
- Four spacious 2‑bedroom units, each with in‑unit washer and dryer.
- Attached garages** for each unit.
- Value‑add opportunity with below‑market rents.
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
$42,456
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
5.66%
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%
$849,120
$849.1K
Cap Rate 7%
$606,514
$606.5K
Cap Rate 9%
$471,733
$471.7K
Market Conditions
NOI Build-Up for 3,689 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
$64.2K $17.40/SF
− Vacancy
−$3.5K −$0.96/SF
EGI
$60.7K $16.44/SF
− OpEx
−$18.2K −$4.93/SF
NOI
$42.5K $11.51/SF
Area
Weld County, CO
Vacancy
5.51%
Lease Rate
$17.40 /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%
$849,120
Cap Rate 7%
$606,514
Cap Rate 9%
$471,733
Alternative Uses
Best Use
Multifamily LT 5
$606.5K
$530.7K – $707.6K
NOI $42,456 @ 7.0% cap · market cap 5.66%
Second Best
Apartment 5plus
$557.0K
$487.4K – $649.8K
NOI $38,990 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office B
$672.3K
$588.3K – $784.4K
NOI $47,062 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
897
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
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 spacious units with in-unit laundry and attached garages.
Where is this quadplex located?
The property is located at 316 21st Ave Longmont, CO.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Four spacious 2‑bedroom units, each with **in‑unit washer and dryer**.; Attached garages** for each unit.; Value‑add opportunity with below‑market rents.
