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Estes Park Team Realty

gmassist@estespark.co +1(970) 586-3838

$ 6,800,000

Est. payment -/mo

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3310 Butternut Loveland, CO 80538

39,640 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 39,640 sqft

Subdivision Sunset Acres

MLS Listing ID IRE1070332

HOA Y/N No

Year Built 1972

Annual Tax Amount $23,625

Tax Year 2025

Lot Size 0.880 Acres

Acres 0.88

Source ires

Property Description

EXTREMELY STRONG RENTAL MARKET - NOT OVERBUILT & STRONG DEMAND. This offering presents a rare opportunity to acquire a fully repositioned, 34-unit multifamily portfolio in Loveland, Colorado at $6,800,000. Spanning three buildings built between 1972 and 1978, the property has just completed a comprehensive, unit-by-unit renovation program, including new kitchens with granite countertops, updated bathrooms with new tile and fixtures, contemporary LVP flooring, all-new LED lighting, and energy-efficient appliances and thermostats throughout. Beyond the interiors, ownership invested heavily in the buildings' major systems and exteriors - new water heaters and electrical panel upgrades across two of the three buildings, new gutters, fresh sealcoat and striping, updated address signage, and a durable, low-maintenance stained (not painted) brick exterior. Together, these improvements substantially de-risk the near-term capital outlook for a new owner, removing the deferred-maintenance burden typically associated with 1970s-vintage garden-style assets and reducing the likelihood of significant capex or unplanned operational costs in the years immediately following acquisition. The hard work is already done - and the upside is still on the table. Ownership has absorbed the heaviest lift of the value-add plan, the renovation, leaving a new buyer with an immediate, low-risk growth story: current rents of $1,350/unit sit meaningfully below the $1,474 market average for comparable renovated product, with no further capital investment required to close that gap - just lease-up and renewal cycling. Layer in a $75/month utility reimbursement fee that isn't yet fully rolled out portfolio-wide, and the path to NOI growth of roughly 34% (Trailing 12 months to Pro Forma) comes into clear view. Butternut Apartments offers the best of both worlds: the stability of a turn-key asset paired with the upside of a value-add deal - without the execution risk.

Location

State CO

County Larimer

Community Sunset Acres

Area Loveland/Berthoud

Zoning R3E

Rooms

Basement None

Interior

Heating Baseboard

Cooling Wall/Window Unit(s)

Appliance Electric Range

Exterior

Utilities Available Natural Gas Available, Electricity Available, High Speed Avail

View Y/N No

Roof Type Composition

Improvements No

Garage No

Building

Sewer Public Sewer

Water Public

Level or Stories Two

Structure Type Brick

New Construction false

Schools

Elementary Schools Lincoln

Middle Schools Erwin, Lucile

High Schools Thompson R2-J

School District Thompson R2-J

Others

Special Listing Condition Private Owner

Information and Real Estate Services (IRES)

Listed by Brian Mannlein

NEARBY SCHOOLS & PROPERTIES

Estes Park Team Realty

Broker/Owner License ID: ER-1322538

+1(970) 586-3838

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Estes Park Team Realty

3310 Butternut Loveland, CO 80538

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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