329 N Meldrum St Active Save Request In-Person Tour Request Virtual Tour
Fort Collins,CO 80521
Key Details
Property Type Single Family Home
Sub Type Income Property
Listing Status Active
Purchase Type For Sale
Subdivision Old Town
MLS Listing ID 1008169
Style Ranch
Bedrooms 14
HOA Y/N false
Originating Board IRES MLS
Year Built 1900
Annual Tax Amount $4,823
Lot Size 0.390 Acres
Acres 0.39
Property Description
A truly unique Investment Opportunity in the heart of Downtown Fort Collins. Check this one out, as it offers great in place rents and a solid Cap Rate with the upside of additional future redevelopment potential on this 16,900 sqft Old Town corner lot! Property includes 7 total units - a Legal Triplex fronts the property on Meldrum and 4 separate Mobile Home units. These well located, affordable rental units are always fully leased! Down the road, join several other previous Downtown redevelopment projects that have had great success in an around this burgeoning area of Old Town! Buy as an investment that cash flows now, and make an income while planning your next project in this NCB zoning district. The chance to own over 1/3 acre of highly desirable Old Town dirt w/ income in such a close proximity to Restaurants, Shopping, Lee Martinez Park, & all that Old Town has to offer is a real rarity. Property is fully leased thru NEXT June/July (Unit Dependent) summer of 2024. Please feel free to reach out to the City of FTC for more information on the future redevelopment possibilities. Seller has a letter in hand from Planning & Zoning that allows the 4 mobile homes to be replaced and swapped out at any point in the future. So use your creativity, and either upgrade and swap out for more income, or replace with newer tiny houses, or do a total redevelopment?! So many options and so much potential here. Unfortunately, showings will not be possible on all units until time of Contract. Units are all in middle of the road "rental grade" condition. Trailer SQFT is added to total SQFT on the listing. Buyer to verify. Property is being sold in its current "As-Is Where-Is" condition. Sellers are licensed Real Estate Brokers in the State of Colorado, and will be completing a 1031 Tax Deferred Exchange.
Location
State CO
County Larimer
Area Fort Collins
Zoning MULTIFAM
Rooms
Basement None
Interior
Heating Forced Air
Cooling Ceiling Fan(s)
Window Features Window Coverings
Exterior
Exterior Feature Lighting
Utilities Available Natural Gas Available,Electricity Available
Roof Type Composition
Street Surface Paved
Porch Patio,Deck
Building
Lot Description Curbs,Gutters,Sidewalks,Fire Hydrant within 500 Feet,Corner Lot
Story 1
Sewer City Sewer
Water City Water,CITY
Level or Stories One,Two
Structure Type Wood/Frame
New Construction false
Schools
Elementary Schools Putnam
Middle Schools Lincoln
High Schools Poudre
School District Poudre
Others
Senior Community false
Tax ID R0024490
SqFt Source Assessor
Special Listing Condition Licensed Owner