329-333 North Meldrum Street

Fort Collins, CO 80521

$1,795,000
Price
14
Beds
9
Baths
7,500 Sq. Ft.
$239 / Sq. Ft.
7,500
Sq. Ft.
$239
per Sq. Ft.

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.
  1. Listed by Richard Payne Jr • Fort Collins Real Estate, LLC • 9706915222
  2. Listed by Michael Jensen • Fort Collins Real Estate, LLC

Property Details for 329-333 North Meldrum Street

Description 1
Legal Conforming

Location

Listing Courtesy of Fort Collins Real Estate, LLC, Richard Payne Jr; Fort Collins Real Estate, LLC, Michael Jensen
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LISTING UPDATED: 04/26/2024 04:13 PM

Property Details for 329-333 North Meldrum Street

StatusActive
MLS #1008169
Days on Compass11
Taxes$4,823 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeIncome Property
Year Built1900
Lot Size0.39 AC / 16,900 SF
CountyLarimer County

Location

Listing Courtesy of Fort Collins Real Estate, LLC, Richard Payne Jr; Fort Collins Real Estate, LLC, Michael Jensen
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Building Information for 329-333 North Meldrum Street

Stories1Residences7Year Built1900Building Size-Lot Size0.39 AC / 16,900 SF

Payment Calculator

$10,198 per month

30 year fixed, 7.25% Interest

Principal and Interest

$9,796

Property Taxes

$402

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 329-333 North Meldrum Street

Summary
Location and General Information
  • Longitude and Latitude: -105.08295, 40.5919
  • Latitude: 40.59
  • Longitude: -105.08
  • Elementary School District: Poudre
  • Middle Or Junior School District: Poudre
Parking
  • Total Parking: 10.00
Taxes and HOA Information
  • Tax Information: No
  • Tax Year: 2023
  • HOA Transfer Fee: No
  • HOA 2 Transfer Fee: No
  • Has Association Fee: No
  • Has Association 2 Fee: No
  • Has Association Reserve: No
  • Has Association 2 Reserve: No
  • Tax Annual Amount: $4,823
  • Parcel Number: R0024490
Property
Lot Information
  • Lot Improvements: Curbs, Gutters, Sidewalks, Fire Hydrant within 500 Feet, Corner Lot
  • Lot Size Area: 16,900.00
  • Lot Size Units: Square Feet
  • Has Irrigation Water Rights: No
  • Has Improvements: No
Property and Assessments
  • Total Finished Area Source: Assessor
  • Total Finished Area Units: Square Feet
  • Above Grade Finished Area Units: Square Feet
  • Below Grade Finished Area Units: Square Feet
  • Location Description 2: No
  • Are Ditches Active: No
  • New Construction YN: No
  • Property Styles: 1
  • Levels: One, Two
  • Home Warranty YN: No
Utilities
  • Cooling: Yes
  • Utilities 1: No
  • Electric: Electric, CITY
  • Gas: Natural Gas, XCEL
  • Sewer: City Sewer
  • Heating YN: Yes
Interior and Exterior Features
Exterior Features
  • Exterior Features: Lighting
Interior Features
  • ViewYN: No
  • Spa YN: No
  • Window Features: Window Coverings
Multi Family
Multi-Family Information
  • Unit 1's Number of Bedrooms: 1
  • Unit 1's Number of Baths: 1.00
  • Number of 1 bedroom units: 2
  • Number of units in Unit 1: 1
  • Unit 2's Number of Bedrooms: 1
  • Unit 2's Number of Baths: 1.00
  • Number of units in Unit 2: 1
  • Unit 3's Number of Bedrooms: 3
  • Unit 3's Number of Baths: 1.00
  • Number of 3 bedroom units: 5
  • Number of units in Unit 3: 1
  • Unit 4's Number of Bedrooms: 3
  • Unit 4's Number of Baths: 2.00
  • Unit 4's Estimated Square Feet: 1264
  • Number of units in Unit 4: 1
  • Unit 5's Number of Bedrooms: 3
  • Unit 5's Number of Baths: 2.00
  • Unit 5's Estimated Square Feet: 1056
  • Number of units in Unit 5: 1
  • Unit 6's Number of Bedrooms: 3
  • Unit 6's Number of Baths: 2.00
  • Unit 6's Estimated Square Feet: 952
  • Number of units in Unit 6: 2
Rental
Rental Information
  • Rent Unit 1: $1,320.00
  • Rent Unit 2: $1,080.00
  • Rent Unit 3: $1,775.00
  • Rent Unit 4: $1,775.00
  • Rent Unit 5: $1,755.00
  • Rent Unit 6: $1,055.00
  • Lease Sq Ft Unit: Square Feet
  • Total Actual Rent: $8,760.00
  • Horse YN: No

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.

Similar Homes

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329-333 North Meldrum Street is a multi-family home for sale in Fort Collins, CO 80521. This property was listed for sale on April 26, 2024 by Fort Collins Real Estate, LLC, it's currently listed at $1,795,000. This listing's school district is Poudre R-1 School District. Nearby schools include Putnam Elementary School, Lincoln Middle School and Poudre High School. 329-333 North Meldrum Street is a 14-bed, 9-bath, 7,500 sqft multi-family home built in 1900.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Fort Collins Real Estate, LLC, Richard Payne Jr; Fort Collins Real Estate, LLC, Michael Jensen

Based on information from one of the following Multiple Listing Services: REColorado, Summit MLS Inc (a wholly owned subsidiary of Summit Association of REALTORS), Pikes Peak Association of Realtors, IRES, Grand Junction Area REALTOR, CREN, Vail Board of REALTORS and Grand County Board of REALTORS . Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by REColorado, Summit MLS Inc (a wholly owned subsidiary of Summit Association of REALTORS), Pikes Peak Association of Realtors, IRES, Grand Junction Area REALTOR, CREN, Vail Board of REALTORS and Grand County Board of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.