1629 Azalea Dr - Apartments FOR SALE


Fort Collins, CO 80526
$1,050,000 USD
303-328-2069
1629 Azalea Dr, Fort Collins, CO for Sale
$1,050,000 USD
Apartments - FOR SALE
1/19
null | 6.09% Cap Rate

1629 Azalea Dr
Fort Collins, CO 80526


HIGHLIGHTS

  • Fully renovated, turnkey asset with minimal near-term capex and reduced maintenance risk
  • All three-bedroom units drive strong demand from families and long-term renters
  • Prime West Fort Collins location near Horsetooth Reservoir and outdoor amenities
  • Supply-constrained submarket supports long-term rent growth and appreciation
  • Large unit format benefits from rising homeownership affordability challenges
  • Upside through rent growth as leases roll to market levels

OVERVIEW

Marcus & Millichap is pleased to present 1629 Azalea Drive, a fully renovated multifamily asset located in one of Fort Collins’ most desirable residential corridors. Situated just minutes from the renowned Horsetooth Reservoir, the property benefits from immediate access to some of Northern Colorado’s most sought-after outdoor recreation amenities, including boating, hiking, mountain biking, and open space trails. The asset features an attractive unit mix comprised entirely of spacious three -bedroom units, a highly desirable layout that appeals to families, roommates, and long-term residents seeking larger living accommodations. Current ownership has completed extensive renovations throughout the property, creating a turnkey investment opportunity with limited near -term capital requirements. In addition to its renovated condition, investors are presented with a compelling value -add opportunity through the continued growth of rental rates toward market levels. Combining a premium Fort Collins location, large three -bedroom floorplans, modernized interiors, and operational upside, 1629 Azalea Drive offers investors the opportunity to acquire a high-quality asset positioned for both stable cash flow and future income growth.

FOR SALE DETAILS

PRICE

$1,050,000 USD

PRICE/SF

$266 USD /SF

# OF UNITS

4

PRICE/UNIT

$262,500

CAP RATE

6.09%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1969

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

MMN

APN/PARCEL ID

97212-06-006

ASK ABOUT THIS PROPERTY

David BomgaarsMarcus & MillichapMore Info
303-328-2069

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

David BomgaarsMarcus & MillichapMore Info
303-328-2069

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.