Mike Shuttleworth - 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. 5 coin-op washers, 5 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. 3 POTENTIAL ADDITIONAL UNITS AVAILABLE FOR RENT (currently used for book keeping office and two for shop space). Room to increase even the section 8 rents. Two 3 bed units at $775, Fifty two 2 beds at 700 & 725, eighteen 1 beds at 625. Net monthly income at $24,810 plus coin op laundry (added back owner's debt and pay). Approx. 75% are section 8 with auto-dep

Details

MLS#20184860
Sub-TypeResale
StatusPending - Show
Year1975
Days On Site109

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:
$229,900
100% of Average
SqFt:
50,816
low | high
Med:
1,785
100% of Average
$ / SqFt:
$100
low | high
Med:
$129
21.66915581919% of Average
On Site:
109
low | high
Med:
58
100% of Average
Listing Updated: 12/13/2018
MLS Number: 20184860
Listing Provided By:
JAN KIMBROUGH MILLER  of  RE MAX 4000 INC

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