1424 Hover St | Longmont, CO 80501
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- LoopNet Team
1424 Hover St
Longmont, CO 80501
1424 Hover Apartments · Multifamily Property For Sale
·
5 Units
Investment Highlights
- Immediate Upside: Market rents of $1,700–$1,750 vs. current $1,256/unit; $500+ monthly rent lift achievable.
- Tenant Demand Drivers: Located near Longmont’s employment hubs, retail corridors, and community amenities supporting low vacancy.
- Efficient Unit Mix: Five large 2BR/1.5BA townhome-style units (~1,100 SF) with in-unit W/D hookups and garages.
- Stabilized Returns: Year 1 NOI projected at ~$70K with a 6.94% cap rate; levered IRR ~16% on 65% LTV financing.
Property Facts
| No. Units | 5 | Lot Size | 0.27 AC |
| Property Type | Multifamily | Building Size | 5,544 SF |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Low-Rise | Year Built | 1972 |
| Building Class | C |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 5,544 SF |
| No. Stories | 1 |
| Year Built | 1972 |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Washer/Dryer Hookup
- Kitchen
- Refrigerator
- Range
- Carpet
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Wi-Fi
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 5 | $1,258 | 1,108 |
Property Taxes
| Parcel Number | 1205332-16-012 | Improvements Assessment | $43,806 |
| Land Assessment | $17,131 | Total Assessment | $60,937 |
Property Taxes
Parcel Number
1205332-16-012
Land Assessment
$17,131
Improvements Assessment
$43,806
Total Assessment
$60,937
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