$695,000Unique investment opportunity with great cash flow located one block north of CSU's Oval in the heart of Old Town. Downtown zoning affords many real estate, business, and investment options. Current 7.5% CAP rate while holding for future development on key location. Alternatively, reside in the house while rear rental units pay your loan. Or set up your street front business office with short-term rentals in the rear. Three rental units currently producing $54,940 per year with a strong history of near zero vacancy. Historically has consistent rental income regardless of economic climate. Provides good return for self-directed IRAs eligible for non-recourse loan with 40% down on appraised value of main house. The main house is a 3-bedroom 1 bath house, with two spacious mobile homes in rear 2 BD, 1BA and1BD 1BA. Alley access for all units with seven private off-street parking spaces. Excellent maintenance history provides a take-over investment with good cash flow from day one. Completed property inspections and noted repairs March 2022 and reports are available for serious buyers. No deferred maintenance here. Long term tenants would like to renew leases again in July 2023. Tenants enjoy easy access to CSU, Mason Transit, restaurants, events, and entertainment and all that Old Town Fort Collins has to offer. Serious investors only with significant down payments or cash.
6 Beds ⋅ 3 Baths ⋅ 983971 MLS ⋅ ACTIVE Status
212 W Myrtle St, Fort Collins