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212 W Myrtle St Fort Collins, CO 80521
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Key Details
Sold Price $656,500
Property Type Single Family Home
Sub Type Income Property
Listing Status Sold
Purchase Type For Sale
Subdivision Harrison
MLS Listing ID 983971
Sold Date 05/26/23
Style Cottage/Bung,Ranch
Bedrooms 6
HOA Y/N false
Originating Board IRES MLS
Year Built 1901
Annual Tax Amount $1,337
Lot Size 8,276 Sqft
Acres 0.19
Property Description
Unique 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.
Location
State CO
County Larimer
Area Fort Collins
Zoning Downtown
Direction College Avenue to Myrtle, west on Myrtle
Rooms
Basement None
Interior
Heating Forced Air
Cooling Evaporative Cooling
Window Features Window Coverings
Exterior
Garage Alley Access
Utilities Available Natural Gas Available, Electricity Available
Waterfront false
Roof Type Composition
Street Surface Paved,Asphalt
Parking Type Alley Access
Building
Lot Description Level
Story 1
Water City Water, City
Level or Stories One
Structure Type Block
New Construction false
Schools
Elementary Schools Dunn
Middle Schools Lincoln
High Schools Poudre
School District Poudre
Others
Senior Community false
Tax ID R0066648
SqFt Source Assessor
Special Listing Condition Private Owner
Read Less
Bought with CO-OP Non-IRES