Lorraine Morrison - Coldwell Banker Distinctive Properties
541 29 1/2 Road
Grand Junction, CO 81504

Description

Great VALUE ADD opportunity to own this 72 unit apartment complex on 4.06 acres. Orig. built in '78, professionally maintained & updated. Units stay full except for brief period between tenants to paint & clean. Pet free, smoke free. Tenants pay electric (individually metered), landlord covers water, sewer, trash & gas. 4 coin-op washers, 4 coin-op dryers. Backs to Bookcliff Middle School track & field plus large open green space in center of buildings. POTENTIAL TO ADD INCOME PRODUCING BUILDING ON VACANT 1 ACRE ON WEST SIDE OF LOT. Two 3 bed units at $775, Fifty two 2 beds at 700 & 725, eighteen 1 beds at 625. Net monthly income at $30,000 plus coin op laundry. Approx. 75% are section 8 with auto-deposit of rent. Very clean, well maintained. Unusual find. A Non-Disclosure Agreement (in additional documents) is required to release financials.

Details

MLS#20184860
Sub-TypeResale
StatusActive
Year1975
Days On Site50

Features

SQ Feet50,816
Units72

Market Activity 81504

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Area Information

StateCO
CityGrand Junction
Zip Code81504
AreaNE Grand Junction
Listing VS Median (in 81504)
Price:
$5,100,000
low | high
Med:
$225,000
100% of Average
SqFt:
50,816
low | high
Med:
1,491
100% of Average
$ / SqFt:
$100
low | high
Med:
$153
2.600032837815% of Average
On Site:
50
low | high
Med:
11.5
100% of Average
Listing Updated: 10/16/2018
MLS Number: 20184860
Listing Provided By:
JAN KIMBROUGH MILLER  of  RE MAX 4000 INC

MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Grand Junction Area REALTOR Association MLS.