3310 Butternut Dr, Loveland, CO 80538
Local realty services provided by:CENTURY 21 CapRock Real Estate
3310 Butternut Dr,Loveland, CO 80538
$6,800,000
- - Beds
- - Baths
- 39,640 sq. ft.
- Multi-family
- Active
Listed by: brian mannlein
Office: cushman & wakefield9707763900
MLS#:1070332
Source:IRES
Price summary
- Price:$6,800,000
- Price per sq. ft.:$171.54
About this home
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....
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Home facts
- Year built:1972
- Subdivision & Development:Sunset Acres
- Listing ID #:1070332
- Added:1 day(s) ago
- Updated:October 10, 2026 at 04:47 AM
Rooms and interior
- Kitchen Description:Electric Range
- Living area:39,640 sq. ft.
Heating and cooling
- Cooling:Wall/Window Unit(s)
- Heating:Baseboard
Structure and exterior
- Roof:Composition
- Year built:1972
- Building area:39,640 sq. ft.
- Lot area:0.88 Acres
- Construction Materials:Brick
- Levels:2 Story
Schools
- High school:Loveland
- Middle school:Erwin, Lucile
- Elementary school:Lincoln
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$6,800,000
- Price per sq. ft.:$171.54
- Tax amount:$23,625
Features and amenities
- Appliances:Electric Range
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