Multifamily Community with Detached
For Sale
$3,840,000
719 16th St SW, Loveland, CO 80537
Stabilized 24-unit multifamily property featuring all two-bedroom residences and 24 detached garages in Loveland, Colorado.
Property Size29,268 SF
Days on Market50
Property Features for 719 16th St SW
General Information
Standard status
Active
Size
29,268 SF
Total Parking Spaces
24
Property subtype
Multifamily
Occupancy
95%
Financials
Cap Rate
6.77%
Business Included
Yes
Additional Details
Highway Access
Yes
Multifamily Units
24
Amenities
Offered at an attractive 6.77% in-place cap rate, providing immediate, stable income with limited operational risk.
The property delivers dependable in-place cash flow while providing investors the opportunity to increase income through continued rental growth as leases naturally roll.
All 24 apartments feature spacious two-bedroom layouts, appealing to families, roommates, and long-term workforce tenants while supporting strong occupancy and tenant retention.
A one-to-one garage ratio provides a highly desirable amenity that differentiates the property from competing apartment communities, enhances tenant satisfaction, and offers additional revenue potential.
Building Details
Building Size
29,268 SF
Units
24
Tenancy
Multi
Listing Agency:
Denver Office
Listed By:
David Bomgaars · License #License(s): CO: FA100104456
(303) 328-2069
Source:
Marcusmillichap
Added: Jul 17
Changed: Aug 8
Last Checked: Sep 4 at 2:07AM
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 Denver Office
Investment Insights
Based on property information with market context.
715–719 16th Street SW is a stabilized 24-unit multifamily community consisting entirely of spacious two-bedroom residences. The property is complemented by 24 detached garages, providing parking and storage as part of the existing amenity package.
Ownership has completed significant capital improvements, positioning the asset for continuity in in-place operations with limited near-term capital expenditure requirements. The community is located just minutes from Highway 34, Downtown Loveland, and Centerra, with convenient access to major employers in the Northern Colorado region.
For buyers seeking a well-maintained income-producing multifamily asset, this property offers a consistent unit mix and a garage amenity that is specifically integrated into the community’s current configuration.
Ownership has completed significant capital improvements, positioning the asset for continuity in in-place operations with limited near-term capital expenditure requirements. The community is located just minutes from Highway 34, Downtown Loveland, and Centerra, with convenient access to major employers in the Northern Colorado region.
For buyers seeking a well-maintained income-producing multifamily asset, this property offers a consistent unit mix and a garage amenity that is specifically integrated into the community’s current configuration.
Key Highlights
- Stabilized 24‑unit multifamily community in Loveland, CO
- All residences are two‑bedroom units
- Includes 24 detached garages
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
$278,559
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
7.25%
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%
$5,571,180
$5.6M
Cap Rate 7%
$3,979,414
$4.0M
Cap Rate 9%
$3,095,100
$3.1M
Market Conditions
NOI Build-Up for 29,268 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
$530.3K $18.12/SF
− Vacancy
−$23.9K −$0.82/SF
EGI
$506.5K $17.30/SF
− OpEx
−$227.9K −$7.79/SF
NOI
$278.6K $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%
$5,571,180
Cap Rate 7%
$3,979,414
Cap Rate 9%
$3,095,100
Alternative Uses
Best Use
Apartment 5plus
$3.98M
$3.48M – $4.64M
NOI $278,559 @ 7.0% cap · market cap 7.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.86M
$6.87M – $9.17M
NOI $549,920 @ 7.0% cap · market cap 14.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
24
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
561
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 - Stabilized 24-unit multifamily property featuring all two-bedroom residences and 24 detached garages in Loveland, Colorado.
Where is this apartment building located?
The property is located at 719 16th St SW Loveland, CO.
What is the asking price?
The asking price for this property is $3,840,000.
What are key features of this property?
This property features: Stabilized 24‑unit multifamily community in Loveland, CO; All residences are two‑bedroom units; Includes 24 detached garages
