Overview
The Longmont Nine presents a unique opportunity to acquire a collection of nine well-located multifamily assets in Longmont, Colorado. Comprising a diverse unit mix across two-, three-, and four-bedroom floorplans, the portfolio offers strong in-place income and operational upside through strategic renovations and management enhancements.
Strong In-Place Income: Current gross annual rents exceed $566,700, with an average rent per unit ranging from $1,500 to $2,635 depending on unit size.
Value-Add Potential: Most units have been renovated, providing a major loss-to-lease opportunity to increase cash flow without major capital expenditure. Remaining Units can be renovated, offering the next ownerthe ability to implement a light-to-moderate renovation program and realize significant rent premiums.
Strategic Location Coverage: The portfolio delivers instant scale across seven well-located properties situated on quiet residential streets in Longmont—Princess Dr, Duchess Dr, Dexter Dr, Scott Ct, 10th Ave, Terry St, and Emery St—placing all 23 units within walkable proximity to parks, schools, and major employment corridors.
Attractive Unit Mix: The portfolio features a mix of 2-bedroom, 3-bedroom, and 4-bedroom units, catering to both small families and workforce housing demand in a tight Longmont rental market.
Market Fundamentals: Longmont benefits from strong tenant demand, limited new multifamily supply, and growing pressure on housing affordability, positioning this portfolio as a compelling rental alternative to home ownership.
Investment Highlights
Strategic Location & Market Positioning Longmont, CO—located in Boulder County—is one of the fastest-growing cities in Colorado and the broader Mountain West. The population has grown over 15% since 2010, driven by economic opportunity, quality of life, and relative affordability. As Boulder becomes increasingly cost-prohibitive, Longmont serves as a strategic alternative for renters and investors alike, offering access to the same employment base with lower acquisition costs.
Excellent Economic & Employment Drivers The city features a strong mix of white- and blue-collar employment. Major employers such as IBM, Google, Medtronic, and Qualcomm have a significant presence in the region. Longmont also supports key industries like aerospace, craft brewing, food processing, and outdoor recreation. With low unemployment and a business-friendly environment, the city continues to attract corporate investment and entrepreneurial growth.
Exceptional Education & Quality of Life Longmont is served by the highly rated St. Vrain Valley School District, including Niwot High School (#14 in Colorado), Silver Creek High School (#28), and Altona Middle School (#24). The area offers abundant open space, trails, and cultural amenities, supporting a family-friendly lifestyle and appealing to long-term renters.
Housing Trends & Rental Demand Home values in Longmont have appreciated 116.4% over the past decade, rising from $479K in 2020 to $611K in 2022. Only 32% of local households can afford to purchase a home, creating consistent demand for rental housing. With a median renter income of $104,000, the market supports healthy rent levels for both workforce and market-rate units.
Multifamily Investment Dynamics Duplexes and small multifamily assets (2–4 units) have doubled in value since the mid-2010s and now trade in the $600K–$800K range. Larger multifamily properties (5+ units) have seen per-unit pricing increase from ~$210K in 2015 to ~$380K at the 2021 peak. Longmont has attracted new development and institutional attention. Recent notable deliveries include Union Pointe (256 units, sold for $76.9M or ~$300K/unit) and Notch66 (336 units, delivered in 2023). These developments highlight the area's emerging prominence within the Boulder County multifamily landscape.
Optimistic Investment Outlook Longmont offers compelling investment fundamentals: lower acquisition costs, higher cap rates, strong rent growth, and over 95% occupancy for small multifamily assets. The limited new supply, favorable regulatory environment, and strong local economy create opportunities for yield-focused, value-add, or long-term hold strategies.
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