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    Turnkey Apartment Building with Suites Title is generated by Realmo AI

    174 S Mulberry Street, Fruita, CO 81521

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    New
    For Sale
    $1,300,000

    MULTI_FAMILY - Fruita, CO

    Property size:
    4,908 SF
    Lot size:
    0.29 Acres
    Price / SF:
    $264/SF
    Added:
    Jun 3, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 4 at 5:06 am

    Property Features for 174 S Mulberry Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    9
    Bathrooms
    7
    Rooms
    Bedroom 9, Bathroom 2, Bathroom 4, Bathroom 6, Bedroom 1, Bathroom 1, Bathroom 7, Bedroom 5, Bedroom 4, Bedroom 3, Bedroom 7, Bathroom 5, Bedroom 6, Bedroom 8, Bedroom 2, Bathroom 3
    Standard status
    Active
    APN
    2697-172-23-019
    Size
    4,908 SF
    Lot size
    0.29 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    4896

    Utilities

    Heating system
    Forced Air
    Water source
    Public

    Building Details

    Year built
    2020
    Number of units
    7
    Flooring type
    Laminate, Carpet, Tile
    Building materials
    VinylSiding, WoodSiding
    Roof type
    Composition, Asphalt
    Additional Structures
    Outbuilding

    We can help!

    Listing Contact
    Becca Posner
    Becca Posner

    Listing agent Becca Posner License #FA100069180

    Listing office VENTURE GROUP 627 24 1/2 RD UNIT D, GRAND JUNCTION, CO

    Listing date Jun 3, 2026

    MLS# 20262637 Listing URL

    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.

    HighLights

    • Seven fully operational apartments and suites designed for short‑term stays
    • Remodeled throughout with granite countertops and custom tile and marble bathrooms in the units
    • Near year‑round occupancy history on short‑term rental platforms (Airbnb/VRBO)
    • Income diversification with two units currently leased to long‑term tenants
    • Historical NOI averages approximately $115,000 annually
    • Sale includes all furnishings; potential to convert the third floor into an additional ~800 SF income‑producing unit

    Overview

    This beautifully restored early-1900s apartment building has been completely remodeled and transformed into seven fully operational apartments and suites. Units feature granite countertops and custom tile and marble bathrooms, with distinctive finishes intended to support a strong guest experience. The sale is presented as a true turnkey operation, including all furnishings, with management systems already established and ready for a new owner. To support continuity, the seller will assist with transferring systems and processes.

    Located just two blocks from the heart of downtown Fruita, the property has built a reputation on short-term rental platforms such as Airbnb and VRBO, with consistent near year-round occupancy. In addition to the established short-term performance, two units have recently been leased to long-term tenants, creating a stabilizing balance between revenue streams.

    This setup is well-suited for investors or owner-operators seeking immediate, operational income without the upfront lift of unit readiness. Historical NOI averages approximately $115,000 annually, and there is additional upside potential, including the opportunity to convert the third floor into an additional income-producing unit of approximately 800 square feet. With proven performance, furnished readiness, and scalable structure, the property offers both current cash flow and room to grow.
    Property Profile Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fruita
    County
    Mesa
    State
    Colorado
    Longitude
    -108.732227
    Latitude
    39.157325

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    FAQs

    What type of property is this?
    Apartment building - Completely remodeled building offers seven furnished apartments near downtown Fruita with established short- and long-term income.
    Where is this apartment building located?
    The property is located at 174 S Mulberry Street Fruita, CO.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: Seven fully operational apartments and suites designed for short‑term stays; Remodeled throughout with granite countertops and custom tile and marble bathrooms in the units; Near year‑round occupancy history on short‑term rental platforms (Airbnb/VRBO)
    (970) 424-2281
    We can help!
    Listing Contact
    Becca Posner
    Becca Posner
    Real Estate License ID: FA100069180
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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