Loveland Multifamily Value-Add
For Sale
$1,300,000
604-606 E Eisenhower Boulevard, Loveland, CO 80537
Thirteen units across three buildings with value-add potential.
Property Size9,033 SF
Price / SF$143.92
Days on Market162
Property Features for 604-606 E Eisenhower Boulevard
General Information
Standard status
Active
Size
9,033 SF
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$4,677
Building Details
Year Built
1976
Listing Agency:
Unique Properties LLC
(303) 931-0793
Listed By:
Philip Dankner · License #100052493
(303) 931-0793
Source:
Exitrealty
Added: Mar 23
Changed: Aug 25
Last Checked: Aug 30 at 4:26PM
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 Unique Properties LLC
Investment Insights
Based on property information with market context.
The Valley Apartments, located at 604-606 E Eisenhower Blvd in Loveland, Colorado, comprises 13 units situated across three buildings. The property is centrally located and spans two separate parcels. One building is a converted office building containing five units: four 1-bed/1-bath units and one studio unit. The second parcel features eight units converted from a motel, consisting of five 1-bed/1-bath units, one studio, one large 2-bed/1-bath unit, and one #bed/1-bath unit. The property offers a value-add opportunity due to below-market rents, interior renovation potential, and operational inefficiencies. Several units have dated finishes, presenting an opportunity for renovation programs including flooring, kitchens, bathrooms, fixtures, and appliances. Market rents in the Loveland submarket support rent growth upon turnover. Additional upside exists through utility expense optimization, improved property management practices, and lease restructuring. The two-parcel configuration and diverse unit mix provide flexibility for future repositioning or redevelopment. The property size is 9033 square feet.
Key Highlights
- Value‑add opportunity through below‑market rents and interior renovation potential.
- Centrally located in Loveland, Colorado at 604‑606 E Eisenhower Blvd.
- 13 units across three buildings on two separate parcels.
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
$85,972
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
6.61%
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%
$1,719,440
$1.7M
Cap Rate 7%
$1,228,171
$1.2M
Cap Rate 9%
$955,244
$955.2K
Market Conditions
NOI Build-Up for 9,033 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
$163.7K $18.12/SF
− Vacancy
−$7.4K −$0.82/SF
EGI
$156.3K $17.30/SF
− OpEx
−$70.3K −$7.79/SF
NOI
$86.0K $9.52/SF
Area
Larimer County, CO
Vacancy
4.50%
Lease Rate
$18.12 /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%
$1,719,440
Cap Rate 7%
$1,228,171
Cap Rate 9%
$955,244
Alternative Uses
Best Use
Apartment 5plus
$1.23M
$1.07M – $1.43M
NOI $85,972 @ 7.0% cap · market cap 6.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.42M
$2.12M – $2.83M
NOI $169,722 @ 7.0% cap · market cap 13.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,182
Businesses Nearby
Explore this area
Business Placement
Demographics for 80537, CO
43,603
Population
20,314
Households
2.1
Avg Household Size
44
Median Age
37%
College-Educated
95%
High-School Grad
122.4 sq mi
ZIP Area
356
Density / Sq Mi
$83,746
Median Household Income
$44,448
Median Earnings
$1,630
Median Rent
$460,100
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?
Apartment building - Thirteen units across three buildings with value-add potential.
Where is this apartment building located?
The property is located at 604-606 E Eisenhower Boulevard Loveland, CO.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Value‑add opportunity through below‑market rents and interior renovation potential.; Centrally located in Loveland, Colorado at 604‑606 E Eisenhower Blvd.; 13 units across three buildings on two separate parcels.
