Six-Unit Apartment
For Sale
$850,000
626 N 7th Street, Grand Junction, CO 81501
MULTI_FAMILY - Other - Grand Junction, CO
Property Size4,261 SF
Lot Size0.24 Acres
Price / SF$199.48
Days on Market19
Property Features for 626 N 7th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
PD
Bedrooms
7
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 3, Bathroom 2, Bathroom 5, Bedroom 4, Bathroom 6, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 5, Bedroom 7, Bathroom 3, Basement, Bathroom 4, Bedroom 6
Parking features
Driveway, Guest
Patio and Porch features
Deck
Interior features
CeilingFans
Appliances
ElectricOven, ElectricRange, Refrigerator
Lot features
Xeriscape
Elementary school
Chipeta
Middle school
West
High school
Grand Junction
Directions
Head South on N 12th St. Turn right onto Gunnison Ave. Turn left on N 8th St. Turn right on Chipeta Ave. Turn right onto N 7th St. Destination will be on the right.
Subdivision
Grand Junction City
Standard status
Active
APN
2945-141-26-002
Size
4,261 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3316
Utilities
Heating system
Baseboard, Forced Air
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
6
Flooring type
Carpet, Vinyl
Building materials
WoodSiding, WoodFrame
Roof type
Asphalt, Composition
Architectural style
Other
Listing Agency:
CENTURY 21 ELEVATED REAL ESTATE
(970) 718-9009
Listed By:
Chanel Crumbaugh
(970) 640-7404
Added: Jul 16
Changed: Aug 2
Last Checked: Aug 3 at 2:06PM
MLS# 20263486
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 six-unit apartment building includes two dorm-style apartments with a shared bath, creating flexibility for different tenant needs. All units are currently rented month to month, supporting ongoing rental occupancy. The property sits on a 0.24-acre lot and contains 4,261 square feet. Built in 1900, the structure has wood frame construction with wood siding, carpet and vinyl flooring, and ceiling fans. Heating is provided by baseboard and forced air systems. Roof materials include composition and asphalt shingles. Apartment amenities include an electric oven, electric range, and refrigerator.
Recent key mechanical updates include a newer furnace, updated hot water, and a new septic line. The property also features a deck and parking with both guest parking and a driveway. Public water is available.
Showings require at least a 48-hour notice. No showings will be approved until August 1.
Recent key mechanical updates include a newer furnace, updated hot water, and a new septic line. The property also features a deck and parking with both guest parking and a driveway. Public water is available.
Showings require at least a 48-hour notice. No showings will be approved until August 1.
Key Highlights
- Six‑unit apartment building with two dorm‑style apartments featuring a shared bath
- All units currently rented month to month
- 0.24‑acre lot with 4,261 SF building area
Financial Insights For Apartment 5plus
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 | $76.7k | $18.00 |
| − Vacancy | −$5.9k | −$1.40 |
| EGI | $70.8k | $16.61 |
| − OpEx | −$31.8k | −$7.47 |
| NOI | $38.9k | $9.13 |
4,261 SF · lease $18.00/SF/yr · vacancy 7.75% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$555.9K
$486.4K – $648.6K
NOI $38,915 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$8.09M
$7.08M – $9.43M
NOI $566,031 @ 7.0% cap · market cap 66.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,892
Businesses Nearby
Explore this area
Business Placement
Demographics for 81501, CO
23,935
Population
11,524
Households
2.1
Avg Household Size
33
Median Age
27%
College-Educated
90%
High-School Grad
8.7 sq mi
ZIP Area
2,751
Density / Sq Mi
$48,500
Median Household Income
$32,160
Median Earnings
$974
Median Rent
$283,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Six-apartment building with two dorm-style units and month-to-month tenancy, plus guest parking and a deck.
Where is this apartment building located?
The property is located at 626 N 7th Street Grand Junction, CO.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Six‑unit apartment building with two dorm‑style apartments featuring a shared bath; All units currently rented month to month; 0.24‑acre lot with 4,261 SF building area
