Four-Unit Property with Finished
For Sale
$985,000
414 Mulberry Dr, Loveland, CO 80538
Residential Income, Loveland, CO
Property Size4,736 SF
Lot Size0.23 Acres
Price / SF$207.98
Days on Market228
Property Features for 414 Mulberry Dr
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
12
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 10, Bathroom 3, Bathroom 4, Bathroom 1, Bedroom 6, Bedroom 9, Bedroom 4, Bedroom 11, Bedroom 3, Bedroom 1, Basement, Bedroom 8, Bathroom 2, Bathroom 6, Bedroom 5, Bathroom 7, Bathroom 8, Bedroom 12, Bedroom 7, Bedroom 2, Bathroom 5
Parking
8
Patio and Porch features
Patio
Interior features
Eat-in Kitchen, Washer/Dryer Hookup, Outside Entry
Basement
Partially Finished, Full
Appliances
No Units Furnished, Electric Range, Dishwasher, Refrigerator
Subdivision
Ridgewood
Elementary school
Lincoln
Middle school
Erwin, Lucile
High school
Loveland
Elementary school district
Thompson R2-J
Middle school district
Thompson R2-J
High school district
Thompson R2-J
Standard status
Active
APN
R0759341
Size
4,736 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
4433
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Forced Air
Building Details
Year built
1986
Floors in Building
2
Number of units
4
Building materials
Frame
Roof type
Composition
Listing Agency:
Group Harmony
(970) 229-0700
Listed By:
Ryan Spencer
(970) 214-0263
Added: Feb 20
Changed: Sep 12
Last Checked: Oct 6 at 5:06PM
MLS# 1052120
Copyright © 2026 IRES MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1986 quadplex contains four residential units totaling 4,736 square feet. Each unit offers approximately 1,184 finished square feet across three levels, with a main-floor living room, eat-in kitchen, patio access, two upper-level bedrooms, and a shared full bathroom. Finished basements add a third bedroom, second bathroom, laundry area, utility space, and recreation room. Frame construction, forced-air heating, composition roofing, electric ranges, dishwashers, and refrigerators are included. Washer/dryer hookups and outside entries further support the individual unit layouts.
All four units are currently rented. The property sits on 0.23 acres in Loveland, with public sewer and natural gas available. The site is zoned R3 and includes patio areas associated with the units.
All four units are currently rented. The property sits on 0.23 acres in Loveland, with public sewer and natural gas available. The site is zoned R3 and includes patio areas associated with the units.
Key Highlights
- Four‑unit quadplex with all 4 units currently rented
- 4,736 square feet across four residential units
- Each unit contains approximately 1,184 finished square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,747
Cap Rate
4.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$974,940
$974.9K
Cap Rate 7%
$696,386
$696.4K
Cap Rate 9%
$541,633
$541.6K
Market Conditions
NOI Build-Up for 4,736 SF
Gross rent
$72.7K $15.36/SF
− Vacancy
−$3.1K −$0.66/SF
EGI
$69.6K $14.70/SF
− OpEx
−$20.9K −$4.41/SF
NOI
$48.7K $10.29/SF
Area
Larimer County, CO
Vacancy
4.27%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$974,940
Cap Rate 7%
$696,386
Cap Rate 9%
$541,633
Alternative Uses
Best Use
Multifamily LT 5
$696.4K
$609.3K – $812.5K
NOI $48,747 @ 7.0% cap · market cap 4.95%
Second Best
Apartment 5plus
$643.9K
$563.4K – $751.3K
NOI $45,075 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,985 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,015
Businesses Nearby
Explore this area
Business Placement
Demographics for 80538, CO
49,084
Population
21,923
Households
2.2
Avg Household Size
43
Median Age
42%
College-Educated
96%
High-School Grad
102.2 sq mi
ZIP Area
480
Density / Sq Mi
$85,057
Median Household Income
$49,074
Median Earnings
$1,730
Median Rent
$472,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully rented quadplex with three-level layouts, patios, laundry areas, and flexible residential space in Loveland.
Where is this quadplex located?
The property is located at 414 Mulberry Dr Loveland, CO.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: Four‑unit quadplex with all 4 units currently rented; 4,736 square feet across four residential units; Each unit contains approximately 1,184 finished square feet
