24-Unit Apartment Building with
For Sale
$3,840,000
719-715 16th St Sw, Loveland, CO 80537
Two-bedroom residences feature detached garages and completed capital improvements in Loveland, Colorado.
Property Size17,880 SF
Price / SF$214.77
Days on Market21
Property Features for 719-715 16th St Sw
General Information
Standard status
Active
Size
17,880 SF
Total Parking Spaces
24
Property subtype
Residential Income
Units
Unit Mix
24 x 2BR
Multifamily Units
24
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$22,449
Listing Agency:
Marcus & Millichap Real Estate Investment Services of Atlanta, Inc.
(214) 336-6064
Listed By:
Charles Burkhart · License #100103787
(214) 336-6064
Source:
Exprealty
Added: Jul 23
Changed: Aug 10
Last Checked: Aug 11 at 11:12AM
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 Marcus & Millichap Real Estate Investment Services of Atlanta, Inc.
Investment Insights
Based on property information with market context.
This 24-unit apartment community at 715-719 16th Street SW in Loveland, Colorado, contains an all-two-bedroom unit mix and 24 detached garages. The property measures 17,880 square feet, and completed capital improvements support its current multifamily configuration.
The community is positioned near US-34, Interstate 25, Downtown Loveland, Centerra, Boyd Lake State Park, Devil’s Backbone Open Space, and Northern Colorado employers. Residents also have access to the region’s trail system and the surrounding Fort Collins-Loveland area. The property is located in an established residential neighborhood within Northern Colorado’s rental market.
The community is positioned near US-34, Interstate 25, Downtown Loveland, Centerra, Boyd Lake State Park, Devil’s Backbone Open Space, and Northern Colorado employers. Residents also have access to the region’s trail system and the surrounding Fort Collins-Loveland area. The property is located in an established residential neighborhood within Northern Colorado’s rental market.
Key Highlights
- 24‑unit multifamily community with an all‑two‑bedroom unit mix
- 24 detached garages included with the apartment community
- 17,880‑square‑foot property at 715‑719 16th Street SW
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
$170,173
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
4.43%
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%
$3,403,460
$3.4M
Cap Rate 7%
$2,431,043
$2.4M
Cap Rate 9%
$1,890,811
$1.9M
Market Conditions
NOI Build-Up for 17,880 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
$324.0K $18.12/SF
− Vacancy
−$14.6K −$0.82/SF
EGI
$309.4K $17.30/SF
− OpEx
−$139.2K −$7.79/SF
NOI
$170.2K $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%
$3,403,460
Cap Rate 7%
$2,431,043
Cap Rate 9%
$1,890,811
Alternative Uses
Best Use
Apartment 5plus
$2.43M
$2.13M – $2.84M
NOI $170,173 @ 7.0% cap · market cap 4.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.80M
$4.20M – $5.60M
NOI $335,949 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
24
Residential units
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Two-bedroom residences feature detached garages and completed capital improvements in Loveland, Colorado.
Where is this apartment building located?
The property is located at 719-715 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: 24‑unit multifamily community with an all‑two‑bedroom unit mix; 24 detached garages included with the apartment community; 17,880‑square‑foot property at 715‑719 16th Street SW
