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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.
Listed by Jordan Obermann of Jordan Obermann (9704129777)

Property Details of 335 E Magnolia Street

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Information source: Information and Real Estate Services, LLC (IRES). Provided for limited non-commercial use only under IRES Rules. © Copyright IRES. Data last updated on November 29, 2022 9:21 AM EST . All data is obtained from various sources and has not been, and will not be, verified by broker or IRES.   Listing information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed by the MLS.

 
 

 

 

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