Fort Collins Turnkey Fourplex
For Sale
$995,000
4500 Stover Street, Fort Collins, CO 80525
Fully occupied fourplex with reliable income in desirable Fort Collins.
Property Size3,456 SF
Price / SF$287.91
Days on Market307
Property Features for 4500 Stover Street
General Information
Standard status
Active
Size
3,456 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$4,939
Building Details
Year Built
1972
Listing Agency:
RE/MAX Alliance - Nederland
(303) 748-5023
Listed By:
Catherine Camp · License #40022952
(303) 748-5023
Source:
Exitrealty
Added: Oct 23, 2025
Changed: Aug 25
Last Checked: Aug 25 at 5:36AM
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 RE/MAX Alliance - Nederland
Investment Insights
Based on property information with market context.
This fully occupied fourplex represents an investment opportunity in Fort Collins. Each of the four units features two bedrooms and one bath. The units have been remodeled and updated with modern finishes. The building has been maintained and includes a newer boiler, fresh exterior paint, and a roof approximately 10 years old. Ample on-site parking is available for tenants. The property is located on a quiet dead-end street with direct access to Landings Park and trails, combining walkable urban living with a peaceful neighborhood feel. The location provides easy access to major commuting routes as well as the Midtown corridor, offering shops, restaurants, breweries, and entertainment. Outdoor enthusiasts will find Spring Creek Trail, Edora Park, and local open spaces nearby. The property has a bike score of 78, indicating it is very bikeable. The current owners have intentionally maintained below-market rents, with comparable units in the area achieving $1,500-$1,600 per month, indicating a strong value-add opportunity with projected gross annual income of approximately $75,000. The property is located at 4500 Stover St, Fort Collins, CO 80525.
Key Highlights
- Turnkey 4‑plex providing reliable rental income in a desirable Fort Collins location.
- Value‑add opportunity with below‑market rents and potential for increased gross annual income (projected $75,000).
- Each unit is a remodeled 2‑bedroom, 1‑bath with modern finishes, attracting long‑term tenants.
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
$46,235
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
4.65%
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%
$924,700
$924.7K
Cap Rate 7%
$660,500
$660.5K
Cap Rate 9%
$513,722
$513.7K
Market Conditions
NOI Build-Up for 3,456 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
$69.7K $20.16/SF
− Vacancy
−$3.6K −$1.05/SF
EGI
$66.0K $19.11/SF
− OpEx
−$19.8K −$5.73/SF
NOI
$46.2K $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%
$924,700
Cap Rate 7%
$660,500
Cap Rate 9%
$513,722
Alternative Uses
Best Use
Multifamily LT 5
$660.5K
$577.9K – $770.6K
NOI $46,235 @ 7.0% cap · market cap 4.65%
Second Best
Apartment 5plus
$612.9K
$536.3K – $715.1K
NOI $42,905 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$899.9K
$787.5K – $1.05M
NOI $62,996 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,708
Businesses Nearby
Explore this area
Business Placement
Demographics for 80525, CO
55,901
Population
25,144
Households
2.2
Avg Household Size
37
Median Age
59%
College-Educated
98%
High-School Grad
23.4 sq mi
ZIP Area
2,389
Density / Sq Mi
$93,349
Median Household Income
$48,876
Median Earnings
$1,744
Median Rent
$563,100
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 - Fully occupied fourplex with reliable income in desirable Fort Collins.
Where is this quadplex located?
The property is located at 4500 Stover Street Fort Collins, CO.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Turnkey 4‑plex providing reliable rental income in a desirable Fort Collins location.; Value‑add opportunity with below‑market rents and potential for increased gross annual income (projected $75,000).; Each unit is a remodeled 2‑bedroom, 1‑bath with modern finishes, attracting long‑term tenants.
