1304 W Prospect Rd

Description

Incredible In-Fill Development or Redevelopment Opportunity located less than a 1/2 mile from the Colorado State University campus near Prospect & Shields. This expansive 1.59 acre parcel is perched nicely on a gradually sloping lot that would offer some really great mountain views to the West (if 2 story), possibly even walk out or garden level units. Abutting a natural canal area to the West, it offers a roomy and calming natural area feel. Also abuts a school to the North of the Property, ideal for new townhomes or condos in this great near CSU location. Quick sketch concept plans shows that up to 19 townhomes could be built here on this single lot! Would be a great Townhome resale product offering, or you could build out this project and lease the units to Undergrad and Graduate students at CSU, a need that had not been met or delivered for many years! Please contact Broker for an introduction to a local architect that has additional information on the current LMN zoning, potential land uses, and development potential here. Plenty of space for 1 and even 2 car garages and very good sized dwelling units to meet the market. Other product types and offerings could potentially also be developed here as well. Existing ~1,500 sqft adobe style home currently exists on the property that was built in 1947 and has several uses that could contribute additional value; use it as additional unit(s), make it a common amenity clubhouse, or make it an outlot and keep the home that is worth ~$650K+ stand alone. Also includes 3 detached garage/shop/outbuildings (1,157 sqft total) that are 21' x 20', 20' x 10', & 28' X 17'. Builders and Developers might consider a modern Santa Fe, or Modern Adobe concept to the project to complement the existing house? Additional land parcels could possibly be added to the West (PLEASE CONTACT BROKER WHO IS WORKING ON THAT), possibly increasing the total size of this potential project too! (No guarantees of this express nor implied)