4th Street Mobile Homes

Loveland, Colorado

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Offering Highlights

$925,000 | 9.0% Proforma Cap Rate |  9.1x Gross Rent | Mobile Home Park and Duplex

LC Real Estate Group is pleased to present the opportunity to purchase the 4th Street Multifamily property in Loveland, Colorado. 4th Street is a unique asset that includes a duplex and eight mobile home units with an irreplaceable grandfathered zoning in an infill location in Downtown Loveland. 

  • 10 Units including a duplex with 1 Bedroom, 1 Bathroom and one 2 Bedroom, 1 Bathroom with full basement, four (4) 2 Bedroom, 1 Bathroom mobile homes, and four (4) 1 Bedroom, 1 Bathroom mobile homes
  • Lease rollover upside with average in-place rent at $880 per unit with no rent increases over the past several years with significant market rental rate growth
  • Excellent rental value highly affordable units at the low end of the monthly rent spectrum offer substantial ongoing rent growth upside as one of the most affordable rental options in Loveland
  • Below market Division of Housing (Section 8) vouchers. Total gross rent for 1 Bedroom Units of $1,225 (One Person Household), 2 Bedroom Units of $1,421 (Two Person Household), and 3 Bedroom Units of $2,019 (Three Person Household). Mobile homes could be increased to current voucher on Unit 8 of $925/month (One Person Household) and 2 Bedroom duplex could be converted into a 3 Bedroom Unit
  • Additional rent through conversion of part of 1,464 SF duplex basement currently into a third bedroom with existing egress window
  • Tiny home development opportunity by replacing existing units with new or newer units of same size or less with vested right of replacement through City of Loveland
  • Low long term property taxes with Larimer County Assessor taxing only duplex as real property and Colorado Department of Motor Vehicles (DMV) taxing mobile homes with annual vehicle registration fees
  • Low maintenance property with minimal landscaping and site maintenance requirements
  • Walkable Downtown Loveland location walking distance to Chilson Recreation Center, Downtown Loveland Library, Downtown 4th Street Retail District and more
  • Includes two (2) water and sewer taps at property
  • All Park Owned Homes does not require resident “Opportunity to Purchase” upon resale
Wayne Lewis

Wayne Lewis

Senior Partner
Senior Broker

(303) 588-8808
Nathan Klein

Nathan Klein

Senior Partner
Managing Broker

(970) 222-2473