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248 E 4th St
Loveland, CO 80537
Lincoln Apartments · Multifamily Property For Sale
·
27 Units
Investment Highlights
- PRIME DOWNTOWN LOVELAND LOCATION
- DIVERSIFIED, STABILIZED INCOME STREAM
- HISTORIC CHARACTER & DOWNTOWN CHARM
- SIGNIFICANTLY DE-RISKED CAPITAL PROFILE
- VALUE-ADD OPPORTUNITY
- STRONG MARKET FUNDAMENTALS SUPPORTING RENT GROWTH
Executive Summary
PROPERTY OVERVIEW
Lincoln Apartments presents a rare opportunity to acquire a stabilized, mixed-use asset in downtown Loveland, Colorado. The property comprises 27 vintage apartment units and three established retail tenants across 21,004 square feet.
Situated on E. 4th Street — Loveland's walkable arts and dining corridor — the building benefits from immediate proximity to the Rialto Theater, Loveland Museum, Benson Sculpture Garden, and a thriving local brewery scene.
CAPITAL INVESTMENT
The property underwent a comprehensive renovation in 2016, funded in part by a $423,559 City of Loveland grant covering building-wide sprinkler installation. Further, a full electrical overhaul, new heating infrastructure and new roof were installed in 2023. This investment significantly reduces near term capex risk and reflects the city's long-term commitment to the building's role in Loveland's downtown fabric.
VALUE-ADD PROFILE
The value-add thesis is straightforward and low-risk. The property has been managed by an on-site resident manager without professional infrastructure, resulting in below-market rents, extended vacancy cycles, and above-market maintenance costs that have collectively suppressed NOI well below the asset's true earning potential. With all major capital work completed, a professional owner with modern leasing systems, market-rate pricing, and efficient vendor relationships can meaningfully close the gap between current in-place rents and market with minimal incremental investment.
Lincoln Apartments presents a rare opportunity to acquire a stabilized, mixed-use asset in downtown Loveland, Colorado. The property comprises 27 vintage apartment units and three established retail tenants across 21,004 square feet.
Situated on E. 4th Street — Loveland's walkable arts and dining corridor — the building benefits from immediate proximity to the Rialto Theater, Loveland Museum, Benson Sculpture Garden, and a thriving local brewery scene.
CAPITAL INVESTMENT
The property underwent a comprehensive renovation in 2016, funded in part by a $423,559 City of Loveland grant covering building-wide sprinkler installation. Further, a full electrical overhaul, new heating infrastructure and new roof were installed in 2023. This investment significantly reduces near term capex risk and reflects the city's long-term commitment to the building's role in Loveland's downtown fabric.
VALUE-ADD PROFILE
The value-add thesis is straightforward and low-risk. The property has been managed by an on-site resident manager without professional infrastructure, resulting in below-market rents, extended vacancy cycles, and above-market maintenance costs that have collectively suppressed NOI well below the asset's true earning potential. With all major capital work completed, a professional owner with modern leasing systems, market-rate pricing, and efficient vendor relationships can meaningfully close the gap between current in-place rents and market with minimal incremental investment.
Property Facts
| Price Per Unit | $174,074 | Lot Size | 0.25 AC |
| Sale Type | Investment | Building Size | 21,004 SF |
| No. Units | 27 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1906/2015 |
| Apartment Style | Low-Rise | Parking Ratio | 0.38/1,000 SF |
| Building Class | C | Opportunity Zone |
Yes
|
| Zoning | BE | ||
| Price Per Unit | $174,074 |
| Sale Type | Investment |
| No. Units | 27 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 21,004 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1906/2015 |
| Parking Ratio | 0.38/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | BE |
Amenities
Unit Amenities
- Disposal
- Heating
- Kitchen
- Stainless Steel Appliances
- Wheelchair Accessible (Rooms)
Site Amenities
- Laundry Facilities
- On-Site Retail
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | 400 |
| 1+1 | 23 | - | 650 |
| 2+1 | 2 | - | 775 |
Property Taxes
| Parcel Number | 95133-37-001 | Improvements Assessment | $356,941 |
| Land Assessment | $74,209 | Total Assessment | $431,150 |
Property Taxes
Parcel Number
95133-37-001
Land Assessment
$74,209
Improvements Assessment
$356,941
Total Assessment
$431,150
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