335 E Magnolia St, Fort Collins, CO 80524
- $515,000
- 3
- BD
- 1
- BA
- 1,216
- SqFt
- List Price
- $515,000
- Status
- ACTIVE
- MLS#
- 976558
- Year Built
- 1900
- Bedrooms
- 3
- Bathrooms
- 1
- Living Area
- 1,216
- Lot Size
- 9,500
- Region
- Fort Collins
- Subdivision
- Old Town
Property Description
Investment opportunity! First, location: This property sits 2.5 blocks from Target, 3.5 blocks from Lucky's, and 5 blocks to Old Town, where you can walk to get coffee, drinks or dinner without needing to cross a major street. Transit and other nearby infrastructure make this location ideal for simple convenience.Next, opportunity: With the upcoming changes to the land use code (call for more info), this property, sitting in the NCM zoning district, will be allowed to be developed into a multi-family (up to a 6-Plex), or even simpler, can contain an ADU. That means this property is NOT relegated to a SFR investment, but has the potential to generate much more revenue.Lastly, immediacy: This property has been approved by the City to be developed into a 4-plex (several year process), so for the right investor, this work could begin immediately. Further, the plan may be modifiable to grow into a 5-plex.The house needs some work to become immediately rentable; please see the attached inspection report. But the value here is the location and opportunity. The new zoning codes in Fort Collins is a game changer, so for the right buyer this has the opportunity to become a fantastic investment.
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Additional Information
- Taxes
- $2,607
- Style
- Cottage/Bung, Ranch
- Property Styles
- Cottage/Bung, Ranch
- School District
- Poudre
- Elementary School
- Laurel
- Middle School
- Lesher
- High School
- Poudre
- Heating
- Forced Air
- Utilities
- Natural Gas Available, Electricity Available, Cable Available
- Zoning
- NCM
- Possible Usage
- Single Family, Multi-Family
- Buyer Agency Compensation
- 3.00
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Listing courtesy of Jordan Obermann. Jordan Obermann
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