Loveland Multifamily Value-Add
604-606 E Eisenhower Boulevard Loveland, CO 80537
604-606 E Eisenhower Boulevard, Loveland, CO, 80537
$1,300,000
For Sale
$1,300,000
Thirteen units across three buildings with value-add potential.
Property Size9,033 SF
Lot Size0.55 Acres
Price / SF$143.92
Days on Market127
Property Features for 604-606 E Eisenhower Boulevard
General Information
- Standard status
- Active
- Size
- 9,033 SF
- Lot size
- 0.55 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1976
Listing Agency
UNIQUE PROPERTIES LLC
(303) 321-5888
Listed by
PHILIP DANKNER
Source
Corcoran
Added: Mar 12 Checked: Jul 15 at 9:45 pm
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.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $163.7k | $18.12 |
| − Vacancy | −$7.4k | −$0.82 |
| EGI | $156.3k | $17.30 |
| − OpEx | −$70.3k | −$7.79 |
| NOI | $86.0k | $9.52 |
9,033 SF · lease $18.12/SF/yr · vacancy 4.50% · expense 45.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
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.
