Building N 4501 Boardwalk Dr 10 Unit Apartment Building $1,775,000 ($177,500/Unit) Fort Collins, CO 80525

Boardwalk Apartments presents a rare opportunity to acquire a stabilized, value-add multifamily asset in the heart of Fort Collins—one of Colorado’s most dynamic rental markets. This 10-unit property, built in 1984 and recently upgraded in 2024 with new windows, patio doors, and exterior paint, offers investors a clean handoff with minimal near-term capital needs.
The unit mix includes studios, one-bedrooms, loft-style layouts, and two-bedroom apartments, each with dedicated storage and access to HOA-maintained parking. Current in-place rents average $1,120 per unit, approximately 25–30% below market comparables, creating substantial mark-to-market upside. The property is priced at $177,500 per unit—well below recent Fort Collins sales—making it a compelling value play in a high-demand submarket.
Located minutes from Colorado State University, Old Town Fort Collins, and major employers like Hewlett Packard and Intel, the asset benefits from consistent rental demand driven by students, young professionals, and workforce housing. Fort Collins boasts a population of over 172,000, a median household income of $108,056, and a vibrant cultural and recreational scene, including 820 acres of parkland and 35 miles of trails.
With a current cap rate of 4.97% and a pro forma cap rate of 7.17%, Boardwalk Apartments offers both stability and growth potential in a city ranked among the best places to live in the U.S.