329 N Meldrum St
Fort Collins, CO 80521
- 14 beds
- 9 baths
- – sqft
- ~1/2 acre lot
- 1900 build
- – on site
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.
Last checked:
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Checking…
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Last updated Aug 14, 2024
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MLS# 1008169 —
The Building
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Year Built:1900
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New Construction:false
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Construction Materials:Wood/Frame
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Architectural Style:Ranch
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Window Features:Window Coverings
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Stories:1
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Levels:One
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Patio And Porch Features:Patio
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Roof:Composition
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Basement:None
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Structure Type:Legal Conforming
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# of Units Total:7
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Total SqFt:7500
Room Dimensions
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Living Area Units:Square Feet
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Living Area Source:Assessor
Location
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Coordinates:-105.08295, 40.5919
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Latitude:40.5919
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Longitude:-105.08295
The Property
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Property Type:Residential Income
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Property Subtype:Income Property
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Parcel Number:R0024490
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Lot Features:Curbs
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Lot Size Acres:0.39
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Lot Size SqFt:16900
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Lot Size Area:16900
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Lot Size Units:Square Feet
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Zoning:MULTIFAM
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Possible Use:Multi-Family
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Horse:false
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Exterior Features:Lighting
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Water Source:City Water, CITY
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Waterfront:false
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Road Surface Type:Paved
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Year:2023
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Tax Annual Amount:4823
Beds
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Bedrooms Total:14
Baths
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Total Baths:9
The Listing
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Special Listing Conditions:Licensed Owner
Heating & Cooling
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Heating:Forced Air
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Heating:true
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Cooling:Ceiling Fan(s)
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Cooling:true
Utilities
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Utilities:Natural Gas Available
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Gas:Natural Gas, XCEL
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Electric:Electric, CITY
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Sewer:City Sewer
Schools
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Elementary School:Putnam
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Middle Or Junior School:Lincoln
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High School:Poudre
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High School District:Poudre
The Community
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Subdivision Name:Old Town
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Senior Community:false
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Spa:false
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Association:false
Parking
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Other Parking:Parking Per Unit(1.5 Spaces/Unit)
Extra Units
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Bedrooms Unit 1:1
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Total Baths Unit 1:1
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Bedrooms Unit 2:1
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Total Baths Unit 2:1
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Bedrooms Unit 3:3
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Total Baths Unit 3:1
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Bedrooms Unit 4:3
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Total Baths Unit 4:2
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Bedrooms Unit 5:3
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Total Baths Unit 5:2
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Bedrooms Unit 6:3
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Total Baths Unit 6:2
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
7/3/24
Jul 3, 2024
|
Price Changed | IRES | $1,750,000 | -2.2% |
|
6/17/24
Jun 17, 2024
|
Price Changed | IRES | $1,790,000 | -0.3% |
|
4/26/24
Apr 26, 2024
|
Listed / Active | IRES | $1,795,000 | 111.2% (22.2% / YR) |
