107 Units | Built 1966

1113 West Plum Street, Fort Collins, CO 80521

The Opportunity

Eleven13 apartments is a well-located two and three story, low-rise apartment community in Northern Colorado’s most desirable market, Fort Collins. Totaling 107 units, the property offers a mix of two and three bedroom apartment units ranging from 750 to 1,456 square feet. The unit mix entails 102 two bedroom, one bathroom units, three (3) two bedroom, two-and-a-half bathroom townhome units, and two (2) three bedroom, three bathroom townhome units. Built in 1966 and renovated in 2017, the property sits on 3.43 acres of land which equates to a density of 31.20 units per acre.

Located in the heart of Fort Collins, Eleven13 is steps from Colorado State University’s sprawling, 5,000 acre campus, which makes the property an ideal destination for students seeking off-campus housing. Unit amenities at the property include, air conditioning, microwaves, spacious floor plans, plush carpet, and oversized closets. Property amenities include fitness center, hot tub, clubhouse, laundry facilities, and assigned parking.

Eleven13 offers an investor the ability to acquire a well-located assert situated in the third largest MSA in Colorado and the third fastest growing job market in the country. Located at the basin of the Rocky Mountains in northern Colorado, Fort Collins offers a small college-town feel with a dynamic mix of natural beauty, a variety of entertainment options, and burgeoning employment hub. With the expectation of the population to surpass 174,250 residents by 2024, Fort Collins is often a long-term destination for Millennials seeking higher education at Colorado State University. With a Fall 2020 enrollment of roughly 32,765 students, Colorado State University is a key driver in the local economy with over 105,000 CSU alumni residing in Colorado. According to MarketWatch, Fort Collins is ranked number 4 among the “Best U.S. Cities to Raise a Family”. By combining a distinct downtown with retailers, restaurants, and entertainment with 40,000 acres of natural areas, Fort Collins truly offers four season recreation for its residents. acres of natural areas, Fort Collins truly offers four season recreation for its residents.

Property Info

Units

107

Year Built

1966

Parcels

9715166001, 9715166002

Style

Low Rise

Stories

2 & 3

Buildings

5

Gross Leasable Area

105,491 SF

Acreage

3.43 AC

Land SF

149,760 SF

Density

31.20 Units Per AC

Foundation

Concrete Slab

Roof

Flat Membrane

Construction

Wood Frame Masonry Veneer

Floor Covering

Vinyl Plank, Carpet

Virtual Tour

Investment Highlights

Immediately Proximate to Colorado State University

The property is steps to Colorado State University which is the flagship institution in the CSU system and a significant driver in the Fort Collins economy. With a fall 2020 enrollment of more than 32,646 students, CSU’s supply-constricted housing capacity which can only support 6,600 students makes Eleven13 and ideal destination for the 81% of CSU students in need of off-campus housing.

High Barrier to Entry Market

According to the Fort Collins Board of Realtors, the median single-family home price in Fort Collins was $463,600 in February 2021, up 4.17% from the previous year. Further, a staggering 41% of the city’s housing units are renter-occupied. Despite population growth of more than 25,365 individuals since 2010, only 3,228 market rate apartment units have been built during the same time. ​

Desirable Lifestyle Amenities

Eleven13 is packed with thoughtful community amenities and features including fitness center, bike storage, hot tub, clubhouse, pool table, assigned parking, professional management, media center, barbeques, package concierge, and courtyard.

Direct Access to Employment Centers

Eleven13 provides residents with direct access to numerous employment hubs and job centers. Major employers in Fort Collins include Colorado State University, UCHealth, and Broadcom, all of which are within 4 miles of the property and support a total of approximately 14,000 jobs. Additional notable Fort Collins employers include Hewlett Packard Enterprise, Otter Products, Columbine Health Systems, and Qualfon.

Superior Outdoor Access

Located along the Front Range of the Rocky Mountains, Fort Collins provides exceptional access to the outdoors. With 40,000 acres of natural areas, 50 city parks, and an excess of 280 miles of trails, Fort Collins offers a wide array of outdoor recreation. Whether camping, hiking, fishing, golfing, cross country skiing, horseback riding, or kayaking, Fort Collins residents enjoy year-round outdoor adventure.

Strong Demographics

In Fort Collins, 71% of city workers are in white-collar positions, while 54% of residents age 25 and older hold a bachelor’s degree or higher. In addition, median household income is projected to reach $73,927 by 2025, up 15.7% from 2020. Astoundingly, 29% of Fort Collins households earn $100,000 or more annually. Further, 31% of Fort Collins residents are within the key renter age of 18 to 35 years old.

pHoto gallery

Location

Colorado State University

Colorado State University (CSU) in Fort Collins is the CSU System’s flagship institution and a key driver in the local economy.

  • 27,800+ students enrolled in fall 2020
  • Approx. 6,400 on-campus housing capacity
  • 27,234 students in need of off-campus housing options
  • OR 83% of students in need of off-campus housing
  • 19,000 direct and indirect jobs supported statewide
  • 7,700 direct jobs supported locally
  • Over the past decade, CSU has invested $1.4 billion in campus infrastructure including new teaching / research facilities as well as a $240 million football stadium
  • $407 million research expenditures in FY20 - A new record; up 2% from last year

UCHealth Poudre Valley

UCHealth Poudre Valley Hospital is a regional medical center that offers a wide array of primary and specialized health services to northern Colorado, southern Wyoming, and western Nebraska residents. ​

  • 5,400 Employees
  • 270 Hospital Beds
  • 625,200+ Annual ER Visits

Broadcom (Avago)

Broadcom, a global infrastructure technology leader, operates a semiconductor plant in Fort Collins.

  • 1,500 Employees
  • 1.2 MIL SF of Space

Woodward Incorporated

Woodward, Inc. is a major manufacturing company for aerospace and industrial markets.

  • 1,250 total jobs supported
  • 2 Campuses
  • 63,000 SF of office space
  • 300,000 SF Industrial Control Systems facility
  • 230,000 SF plant

Otter Products

OtterBox is a privately owned consumer electronics accessory company based in Fort Collins, Colorado that produces water-resistant, shock-resistant, and drop-resistant cases for mobile devices.

  • 900 Employees
  • 135,390 SF Occupied Citywide

Qualfon

Qualfon, Inc. is a global provider and leader of call center, back office, and business process outsourcing services.

  • 800 Employees
  • 46,860 SF Occupied Citywide

Columbine Health Systems

Columbine Health Systems operates five nursing home centers totaling 478 beds in the Fort Collins metro area.

  • 1,670 Employees
  • 102,260 SF Occupied Citywide
  • 1,450+ Cared for Daily

Tolmar

Tolmar develops and manufactures both proprietary and generic pharmaceutical products with specific focus in dermatology, oncology, and specialty injectable therapeutic areas.

  • 780 Employees
  • 136,070 SF Occupied Citywide

Investment ADVISORS​ & Financing

Denver Office

Investment Advisors

NICK STEELE

Senior Director
303.689.8306
nick.steele@berkadia.com

TYLER KING

Director
303.607.0847
tyler.king@berkadia.com

JOHN LARATTA

Senior Director
303.607.0025
john.laratta@berkadia.com

NATE MOYER

Associate Director
303.689.8320
nate.moyer@berkadia.com

JAKE KEYES

Financial Analyst
303.689.8328
jake.keyes@berkadia.com

Mortgage Bankers

CHRISTOPHER ELLIS

Senior Managing Director
303.689.8317
christopher.ellis@berkadia.com

KEVIN BATT

Senior Director
303.689.8307
kevin.batt@berkadia.com

1113 West Plum Street, Fort Collins, CO 80521

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