329-333 North Meldrum Street
329-333 North Meldrum Street
$1,795,000
14
9
7,500
7,500
$239
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...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.
- Listed by Richard Payne Jr • Fort Collins Real Estate, LLC • 9706915222
- Listed by Michael Jensen • Fort Collins Real Estate, LLC
Property Details for 329-333 North Meldrum Street
Description 1
Legal Conforming
Location
LISTING UPDATED: 04/26/2024 04:13 PM
Property Details for 329-333 North Meldrum Street
Status | Active |
---|---|
MLS # | 1008169 |
Days on Compass | 11 |
Taxes | $4,823 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Income Property |
Year Built | 1900 |
Lot Size | 0.39 AC / 16,900 SF |
County | Larimer County |
Location
Building Information for 329-333 North Meldrum Street
Stories1Residences7Year Built1900Building Size-Lot Size0.39 AC / 16,900 SF
Payment Calculator
$10,198 per month
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Property Information for 329-333 North Meldrum Street
Schools near 329-333 North Meldrum Street
This home is within Poudre R-1 School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Putnam Elementary School PublicPK to 5 | ||
Lincoln Middle School Public6 to 8 | ||
Poudre High School Public9 to 12 | ||
Centennial High School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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