Homes for sale - 329 N Meldrum St, Fort Collins, CO 80521

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HomeSmart Realty Partners

wendy@homesmartrp.com +1(970) 644-5002

$ 1,750,000

Est. payment | -/mo

14 Beds

9 Baths

0.39 Acres Lot

Save

$ 1,750,000

Est. payment | -/mo

Save

14 Beds

9 Baths

0.39 Acres Lot

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

Information and Real Estate Services (IRES)

Listed by Fort Collins Real Estate, LLC • 9706915222

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(970) 644-5002

wendy@homesmartrp.com

431 Colorado Avenue, Junction, CO, 81501

329 N Meldrum St Fort Collins, CO 80521