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.

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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