715-719 16th Street SW
Multifamily | 6.77% CAP | 24 Units
Marketing description
Marcus & Millichap is pleased to present the exclusive opportunity to acquire 715–719 16th Street SW, a stabilized 24-unit multifamily community located in one of Loveland's most established residential neighborhoods. The property consists entirely of spacious two-bedroom residences and is complemented by 24 detached garages, creating an amenity package rarely found in similarly sized apartment communities. Ownership has completed significant capital improvements, allowing investors to acquire an asset with immediate in-place cash flow and limited near-term capital expenditure requirements while preserving the opportunity to capture future rental growth. Located just minutes from Highway 34, Downtown Loveland, Centerra, and many of Northern Colorado's largest employers, 715–719 16th Street SW offers investors the opportunity to acquire a well-maintained, income-producing asset in one of Colorado's fastest-growing multifamily markets.
Located within one of Northern Colorado's fastest-growing rental markets, the Property benefits from Loveland's expanding population, diverse employment base, and exceptional quality of life. The Fort Collins–Loveland MSA has grown by approximately 18% since 2010, while residents enjoy convenient access to major employers, Boyd Lake State Park, Devil's Backbone Open Space, Downtown Loveland, and the region's extensive trail system. Combined with immediate access to US-34 and Interstate 25, the Property is well positioned to capitalize on the continued growth of Colorado's Northern Front Range.
Investment highlights
- 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.
- Ownership has completed major exterior improvements, including new roofs and gutters, exterior painting, refurbished walkways, railings and landings, landscaping and grading, parking lot striping, select garage door replacements, and renovations to multiple unit interiors, reducing near-term capital expenditure needs for new ownership.
- The Property is ideally located near Boyd Lake State Park, Mehaffey Park, Devil's Backbone Open Space, and Downtown Loveland, while also being within walking distance of King Soopers, neighborhood restaurants, and Walgreens, providing residents with convenient access to both everyday necessities and Northern Colorado's outdoor lifestyle.
- 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.
- Residents enjoy convenient access to major employers including UCHealth Medical Center of the Rockies, McKee Medical Center, Colorado State University, Hewlett Packard Enterprise, Woodward, Hach, and the rapidly expanding Centerra employment corridor, supporting a diverse and resilient renter base.
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