501 Independent Avenue, Grand Junction, CO 81505
501 Independent Avenue, Grand Junction, CO 81505
501 Independent Avenue, Grand Junction, CO 81505
501 Independent Avenue, Grand Junction, CO 81505
501 Independent Avenue, Grand Junction, CO 81505
501 Independent Avenue, Grand Junction, CO 81505
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$ 2,900,000
Est. payment | /mo

33 Beds

23 Baths

17,259 SqFt


Save
$ 2,900,000
Est. payment | /mo
Save

33 Beds

23 Baths

17,259 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 17,259 sqft

Price per Sqft $168

Subdivision Area 15 Merchand

MLS Listing ID 20262136

Style Two Story

Bedrooms 33

HOA Y/N false

Year Built 2001

Annual Tax Amount $7,513

Tax Year 2025

Acres 0.16

Lot Dimensions Irregular

Property Sub-Type Multi Family

Property Description

Rare investment opportunity. This apartment complex is centrally located with 12 units (nine 3bed/2bath and three 2bed/2bath units) all with attached garage spaces. This complex boasts several upsides including new siding, roofing, stairs, fire sprinkler systems and improved insulation. Very low maintenance and almost ZERO vacancy. Rents are going up through attrition and units are typically rented prior to changing from one tenant to another. This property also has potential to add another 4 plex with excellent views. All units have washer/dryer hookups and long term projected maintenance expense is very low. All units include an electric range oven, refrigerator and dishwasher. NOI expected to increase by $8k-$9k in 2027. All information deemed reliable, buyer to verify.

Location

State CO

County Mesa

Area Grand Junction City

Direction From 1st Street and North Avenue head West on Independent Avenue to property.

Interior

Interior Features None, Window Treatments

Heating Baseboard, Hot Water, Natural Gas

Cooling Evaporative Cooling

Flooring Carpet

Fireplace false

Window Features Window Coverings

Appliance Dishwasher, Electric Oven, Electric Range

Laundry Washer Hookup, Dryer Hookup

Exterior

Exterior Feature None

Amenities Available None

Roof Type Asphalt,Composition

Present Use Residential,Single Family

Street Surface Paved

Handicap Access None

Porch Covered, Deck

Building

Lot Description Xeriscape

Faces North

Story 2

Foundation Slab

Sewer Connected

Water Public

Level or Stories Two

Structure Type Wood Siding,Wood Frame

Schools

Elementary Schools Pomona

Middle Schools West

High Schools Grand Junction

Others

HOA Fee Include None

Tax ID 2945-104-00-033

Listed by RE/MAX 4000, INC

Nearby Locations

Corrina Shirley

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501 Independent Avenue