168 S Lincoln Ave
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168 S Lincoln Ave
21 Unit Apartment Building $2,650,000 ($126,190/Unit) 7.17% Cap Rate Loveland, CO 80537
Investment Highlights
- Desirable value-add opportunity through rent escalations in a fast growing market
- Zoning presents lucrative development opportunity. Currently zoned under code R3e, allowing for: duplexes, townhouses, multiplexes, and infill MF.
- Brand new sewer line.
- Strong in-place monthly cashflow with rental increase upside in as-is condition
- Ample off-street parking and on-site laundry help boost other income.
Executive Summary
MMG is pleased to present 168 S Lincoln Ave: a 21-unit apartment community in Loveland, Colorado. The well-maintained property was built in 1935 and provides a unique opportunity to investors for a property with strong in place cash flow and the availability to develop in the heart of downtown Loveland. Under R3e zoning, the City of Loveland allows for a variety of development opportunities including townhouses, multiplexes, duplexes, and infill multifamily. The recently finished mixed-use development, the Foundry, is just blocks from the property and boasts a 155-unit multifamily apartment as well as retail and dining. The City of Loveland provides residents ample opportunities to enjoy a vibrant community and proximity to the Colorado outdoors.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,650,000 | Building Class | C |
| Price Per Unit | $126,190 | Lot Size | 1.01 AC |
| Sale Type | Investment | Building Size | 7,994 SF |
| Cap Rate | 7.17% | Average Occupancy | 100% |
| No. Units | 21 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1935 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Garden |
| Price | $2,650,000 |
| Price Per Unit | $126,190 |
| Sale Type | Investment |
| Cap Rate | 7.17% |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.01 AC |
| Building Size | 7,994 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1935 |
| Opportunity Zone |
Yes |
Unit Amenities
- Kitchen
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 11 | $950.00 | 260 |
| 1+1 | 4 | $1,075 | 490 |
| 2+1 | 6 | $1,295 | 575 |
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Walk Score ®
Very Walkable (78)
Bike Score ®
Very Bikeable (80)
PROPERTY TAXES
| Parcel Number | 95242-25-007 | Improvements Assessment | $75,100 (2024) |
| Land Assessment | $58,900 (2024) | Total Assessment | $134,000 (2024) |
PROPERTY TAXES
Parcel Number
95242-25-007
Land Assessment
$58,900 (2024)
Improvements Assessment
$75,100 (2024)
Total Assessment
$134,000 (2024)
zoning
| Zoning Code | DT (Downtown) + RE3 |
| DT (Downtown) + RE3 |
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168 S Lincoln Ave
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