Overview
Marcus & Millichap is pleased to present 3681 Butternut Drive, a well-located four-unit multifamily property in the heart of Loveland, Colorado. Situated just minutes from Downtown Loveland, residents enjoy convenient access to a wide array of retail, dining, and entertainment options, including The Promenade Shops at Centerra, The Marketplace at Centerra, and numerous local restaurants and services. The property also benefits from proximity to major employers such as UCHealth Medical Center of the Rockies, McKee Medical Center, Hach, Woodward, and Banner Health, while offering easy access to Highway 34 and Interstate 25. Outdoor recreation is abundant, with nearby Benson Sculpture Garden, Mehaffey Park, Boyd Lake State Park, Devil’s Backbone Open Space, and the extensive Loveland Recreation Trail system providing year-round amenities that continue to attract and retain residents.
The asset features an increasingly scarce unit mix comprised entirely of spacious two-bedroom residences, offering floorplans that appeal to a broad tenant base including young professionals, roommates, small families, and long-term renters seeking more living space. Offered at pricing below recent comparable sales, 3681 Butternut Drive presents investors with an attractive basis in one of Northern Colorado’s strongest rental markets. In addition, the property offers meaningful operational upside through continued rental growth, allowing new ownership to capitalize on below-market rents while benefiting from Loveland’s strong population growth, expanding employment base, and long-term housing demand
Investment Highlights
ATTRACTIVE BASIS BELOW RECENT COMPARABLE SALES
Offered at pricing below recent comparable transactions, 3681 Butternut Drive provides investors the opportunity to acquire a well-located multifamily asset at an attractive basis. This pricing advantage creates immediate value relative to the surrounding market while positioning ownership for long-term appreciation.
EMBEDDED OPERATIONAL UPSIDE THROUGH RENT GROWTH
New ownership has the opportunity to increase revenue through strategic rental adjustments as leases turn over. With rents positioned below market, investors can capitalize on continued demand for quality two-bedroom housing while enhancing the property’s long-term income potential.
LARGE FLOORPLANS SUPPORT LONG-TERM TENANT DEMAND
The property’s generous two-bedroom layouts provide residents with functional living space that is increasingly difficult to find at attainable price points. As housing affordability remains constrained across the Front Range, well-located larger apartments are expected to continue outperforming smaller unit types in tenant demand and retention
HIGHLY DESIRABLE ALL TWO-BEDROOM UNIT MIX
The property features four spacious two-bedroom residences, a consistently sought-after floorplan that appeals to a broad spectrum of renters. Larger unit sizes promote longer tenancy, lower turnover, and strong leasing demand as affordability continues to challenge prospective homeowners across Northern Colorado.
STRONG NORTHERN COLORADO MARKET FUNDAMENTALS
Loveland continues to experience sustained population and employment growth driven by a diversified economic base and desirable quality of life. Limited multifamily supply, strong renter demand, and continued in-migration support long-term rent growth and favorable investment fundamentals.
CENTRAL LOVELAND LOCATION WITH ACCESS TO EMPLOYMENT, RETAIL & RECREATION
Located near Highway 34 and Interstate 25, the property offers excellent connectivity to Loveland’s largest employment centers including UCHealth Medical Center of the Rockies, McKee Medical Center, Hach, and Woodward. Residents also enjoy convenient access to Centerra’s shopping and dining destinations, Historic Downtown Loveland, Boyd Lake State Park, Benson Sculpture Garden, Devil’s Backbone Open Space, and miles of recreational trails.
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