Address
501 Independent Avenue, Grand Junction, CO
Price
$ 2,900,000
Property Attributes
  • MLS#20262136
  • TypeSingle Family
  • Listing Status Active
  • CountyMesa
  • CityGrand Junction
  • AreaGrand Junction City
  • NeighborhoodArea 15 Merchand
  • Zip81505
  • Style
  • Year Built2001
  • Taxes$ 7513
  • Price$ 2,900,000
  • Bedrooms33
  • Full Bathrooms23
  • Half Bathrooms0
  • Sqr Footage17259
  • Lot Size0.16 Acres
Data Source:
Grand Junction Area REALTOR® Association
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.

Elementary School Middle School High School
Pomona Elementary School West Middle School Grand Junction High School
Price History
5/7/2026 Listed $2,900,000

General Features

Sewer Connected
Heating Baseboard,HotWater,NaturalGas
Cooling EvaporativeCooling
Roof Asphalt,Composition
Appliances Dishwasher,ElectricOven,ElectricRange
Association Fee Includes None
Patio/Porch Features Covered,Deck
Architectural Style TwoStory
Construction Materials WoodSiding,WoodFrame
Year Built 2001
Stories Count 2
Levels Two
Property Subtype MultiFamily
Tax Year 2025
Current Use Residential,SingleFamily
Elevation 4593
Accessibility None
County Mesa
Property Type Residential
Association Amenities None
HOA false
Subdivision Name Area 15 Merchand
Facing Direction North
Green Water Conservation WaterSmartLandscaping
Status Active
Directions From 1st Street and North Avenue head West on Independent Avenue to property.
ModificationTimestamp 2026-06-24T15:49:29.767-00:00
High School Grand Junction
City Grand Junction
Zoning Description RH-16
Number Of Units Total 12
MLS Area Grand Junction City
Elementary School Pomona
Land Lease Y/N false
Tax Annual Amount 7513.12
Middle/Junior High School West
Standard Status Active
Property Sub Type Additional MultiFamily
PostalCity Grand Junction

Interior Features

Interior Amenities None,WindowTreatments
Flooring Carpet
Air Conditioning Y/N true
Heating Y/N true
Window Features WindowCoverings
Fireplace Y/N false
Laundry Features WasherHookup,DryerHookup
Total Bedrooms 33
Total Baths 23

Exterior Features

Exterior Amenities None
Lot Features Xeriscape
Water Source Public
Foundation Details Slab
Building Area Total 17259
Lot Dimensions Irregular
Lot Size Acres 0.16
Road Surface Type Paved
Lot Size Source Assessor
Road Frontage Type CityStreet

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Single Family Average in 81505

Price
AVG $840K
$2.9M
Taxes
AVG $7,422
$7,513
Year Built
AVG 2003
2001