Vivian DeClements - Coldwell Banker Distinctive Properties Logo
$2,900,000
 $15,568 est/mo Sourced by Back At You

501 Independent Avenue,Grand Junction, CO 81505

Grand Junction, CO 81505

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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.

Details

MLS #20262136
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year2001
Days On Site180
Listing Provided ByRE/MAX 4000, INC | BRANDON PALMER

Features

Bed(s)33
Bath(s)23
SQ Feet17,259
Story(s)2
Units12
ZoningRH-16
Acreage0.16

Exterior

Lot FeaturesXeriscape

Taxes

Tax Annual Amount7513.12

Area Information

StateCO
CountyMesa
CityGrand Junction
Zip Code81505
AreaGrand Junction City
Community NameArea 15 Merchand
Listing VS Median (in Area 15 Merchand)
Price:
$2,900,000
low | high
Med:
$1,724,950
90.518965517241% of Average
sqft:
17,259
low | high
Med:
9,533
94.767947158005% of Average
$ / sqft:
$168
low | high
Med:
$236
9.394698705465% of Average
On site:
180
low | high
Med:
223.5
80.536912751678% of Average
Sourced by Back At You

Market Activity 81505

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Coldwell Banker Distinctive Properties

StateCO
CountyMesa
CityGrand Junction
Zip Code81505
AreaGrand Junction City
Community NameArea 15 Merchand
Listing VS Median (in Area 15 Merchand)
Price:
$2,900,000
low | high
Med:
$1,724,950
90.518965517241% of Average
sqft:
17,259
low | high
Med:
9,533
94.767947158005% of Average
$ / sqft:
$168
low | high
Med:
$236
9.394698705465% of Average
On site:
180
low | high
Med:
223.5
80.536912751678% of Average
Sourced by Back At You
Listing Updated: September 28, 2026 at 11:01:28 PM PDT

Vivian DeClements - Coldwell Banker Distinctive Properties