Leased 4-Unit Residential
2045 Bunting Avenue Grand Junction, CO 81501
2045 Bunting Avenue, Grand Junction, CO, 81501
$739,000
For Sale
$739,000
MULTI_FAMILY - Ranch - Grand Junction, CO
Property Size2,989 SF
Lot Size0.20 Acres
Price / SF$247.24
Days on Market8
Property Features for 2045 Bunting Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Quadruplex
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bedroom 7, Bathroom 3, Bedroom 8, Bedroom 6, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 5, Bedroom 1, Bedroom 2, Bathroom 4, Bedroom 3
- Pets allowed
- Yes
- Exterior features
- DogRun, Shed
- Appliances
- Dishwasher, ElectricOven, ElectricRange, Disposal, Refrigerator, RangeHood
- Standard status
- Active
- APN
- 2945-124-25-011
- Size
- 2,989 SF
- Lot size
- 0.20 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 2023
Utilities
- Heating system
- Natural Gas
- Water source
- Public
Building Details
- Year built
- 1976
- Floors in Building
- 1
- Number of units
- 4
- Flooring type
- Laminate, Vinyl, Carpet
- Building materials
- BrickVeneer, WoodSiding, WoodFrame
- Roof type
- Asphalt, Composition
- Architectural style
- Ranch
- Additional Structures
- Shed(s)
Listing agency
VENTURE GROUP
(970) 892-2200
Listed by
Kyle Serrano · License #II100075682
(970) 778-0796
Added: Jul 15 Updated: Jul 21 at 11:42PM Checked: Jul 22 at 11:06PM
MLS# 20263460
Copyright © 2026 Grand Junction Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This is a leased four-unit residential income property featuring separate gas and electric metering. The setup includes private fenced yard space for each tenant, private laundry services for washer/dryers, and parking on-site. A separate storage building is included with five storage units, providing one storage unit for each tenant plus one for owner/maintenance.
The property has seen several recent improvements, including new exterior paint and all new showers throughout. Two of the four units have been fully remodeled within the last couple of years, with updates such as new paint, flooring, fixtures, vanities, showers, and countertops.
Located in Grand Junction, the property is less than half a mile from CMU and near a new car wash built on North Avenue. The units are described as fully leased, with a stated current cap rate of 7.31% and a pro-forma cap rate of 8.22+%.
The property has seen several recent improvements, including new exterior paint and all new showers throughout. Two of the four units have been fully remodeled within the last couple of years, with updates such as new paint, flooring, fixtures, vanities, showers, and countertops.
Located in Grand Junction, the property is less than half a mile from CMU and near a new car wash built on North Avenue. The units are described as fully leased, with a stated current cap rate of 7.31% and a pro-forma cap rate of 8.22+%.
Key Highlights
- Fully leased 4plex with a current cap rate of 7.31% and pro‑forma cap rate of 8.22+%
- New exterior paint; all new showers throughout; 2 of the 4 units remodeled in the last couple of years with new paint, flooring, fixtures, vanities, showers, and countertops
- Separate storage building included with 5 storage units (one per tenant plus one for owner/maintenance)
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $45.9k | $15.36 |
| − Vacancy | −$3.4k | −$1.15 |
| EGI | $42.5k | $14.21 |
| − OpEx | −$12.7k | −$4.26 |
| NOI | $29.7k | $9.95 |
2,989 SF · lease $15.36/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$424.7K
$371.6K – $495.5K
NOI $29,727 @ 7.0% cap · market cap 4.02%
Second Best
Apartment 5plus
$390.0K
$341.2K – $455.0K
NOI $27,298 @ 7.0% cap · market cap 3.69%
Theoretical Best
Healthcare Medical
$5.67M
$4.96M – $6.62M
NOI $397,059 @ 7.0% cap · market cap 53.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four residential units with separate metering, private fenced yard space, and on-site storage for tenants and owner.
Where is this quadplex located?
The property is located at 2045 Bunting Avenue Grand Junction, CO.
What is the asking price?
The asking price for this property is $739,000.
What are key features of this property?
This property features: Fully leased 4plex with a current cap rate of 7.31% and pro‑forma cap rate of 8.22+%; New exterior paint; all new showers throughout; 2 of the 4 units remodeled in the last couple of years with new paint, flooring, fixtures, vanities, showers, and countertops; Separate storage building included with 5 storage units (one per tenant plus one for owner/maintenance)
