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$1,750,000

Beds
14
sq ft
3,272

329 N Meldrum St, Fort Collins, CO 80521

329 N Meldrum St

Fort Collins, CO 80521

  • 210 days on market
    • Price drop $40,000↓
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.

Details

Property type

Lot size

0.39 acres

Price per sq ft

$535

Year built

1900

Annual property taxes

$4,823

HOA

No

Price History

07/03/2024
IRES

IRES #1008169

Price change
$1,750,000
-2.23%
06/17/2024
IRES

IRES #1008169

Price change
$1,790,000
-0.28%
04/26/2024
IRES

IRES #1008169

Listed
$1,795,000
+111.18%

Schools & Community

Neighborhood: 

Matinez park

Elementary school: 

Putnam

Middle school: 

Lincoln

High school: 

Poudre

High school district: 

Poudre

Status: Active

Tomo last checked: 11/22/2024 at 8:45 AM

Listing updated: 08/22/2024 at 5:52 PM

Listed by: Richard Payne Jr, Fort Collins Real Estate, LLC

MLS: IRES #1008169

IRES logo