4-Unit Quadplex with Updated
New
For Sale
$795,000
1821 Gunnison Avenue, Grand Junction, CO 81501
Residential, Grand Junction, CO
Property Size3,510 SF
Lot Size0.19 Acres
Price / SF$226.50
Days on Market2
Property Features for 1821 Gunnison Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
RMF 8
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 7, Bedroom 8, Bedroom 5, Bathroom 3, Bathroom 2, Bedroom 4, Bedroom 3, Bedroom 6, Bathroom 1, Bathroom 4, Bedroom 1, Bedroom 2
Appliances
Dishwasher, ElectricOven, ElectricRange, Refrigerator
Subdivision
Slocombs
Lot features
Corner Lot, Landscaped
Elementary school
Chipeta
Middle school
East
High school
Grand Junction
Directions
From 12th Street and North Ave turn south on 12th street to Gunnison Ave. Left (East) on Gunnison to Property on right side of the road.
Standard status
Active
APN
2945-132-02-001
Size
3,510 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2298
Utilities
Heating system
Baseboard, Hot Water(Heating)
Water source
Public
Building Details
Year built
1953
Floors in Building
2
Number of units
4
Flooring type
Carpet, Vinyl, Laminate
Building materials
Brick, WoodFrame
Roof type
Asphalt, Composition
Architectural style
Other
Listing Agency:
BRAY REAL ESTATE
(970) 242-3647
Listed By:
John Duffy
(970) 234-4830
Added: Oct 22
Last Checked: Oct 23 at 6:06AM
MLS# 20265229
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.
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Investment Insights
Based on property information with market context.
Built in 1953, this 3,510-square-foot quadplex contains four two-bedroom, one-bathroom apartments on a 0.19-acre parcel. One apartment has been fully updated, while the remaining units are in good condition. The building has a newer boiler and roof, and tenants cover all utilities. Appliances include dishwashers, electric ovens and ranges, and refrigerators.
The property is close to CMU, downtown, and Lincoln Park. Heating is baseboard and hot water; the structure uses brick and wood-frame construction, with carpet, vinyl, and laminate flooring.
The property is close to CMU, downtown, and Lincoln Park. Heating is baseboard and hot water; the structure uses brick and wood-frame construction, with carpet, vinyl, and laminate flooring.
Key Highlights
- Four apartments, each with 2 bedrooms and 1 bathroom
- 3,510 square feet on a 0.19‑acre parcel
- One unit recently updated; the other units are in good condition
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,909
Cap Rate
4.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$698,180
$698.2K
Cap Rate 7%
$498,700
$498.7K
Cap Rate 9%
$387,878
$387.9K
Market Conditions
NOI Build-Up for 3,510 SF
Gross rent
$53.9K $15.36/SF
− Vacancy
−$4.0K −$1.15/SF
EGI
$49.9K $14.21/SF
− OpEx
−$15.0K −$4.26/SF
NOI
$34.9K $9.95/SF
Area
Mesa County, CO
Vacancy
7.50%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$698,180
Cap Rate 7%
$498,700
Cap Rate 9%
$387,878
Alternative Uses
Best Use
Multifamily LT 5
$498.7K
$436.4K – $581.8K
NOI $34,909 @ 7.0% cap · market cap 4.39%
Second Best
Apartment 5plus
$457.9K
$400.7K – $534.3K
NOI $32,056 @ 7.0% cap · market cap 4.03%
Theoretical Best
Healthcare Medical
$6.66M
$5.83M – $7.77M
NOI $466,268 @ 7.0% cap · market cap 58.65%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,160
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Each residence has two bedrooms and one bathroom, and tenants pay their own utilities.
Where is this quadplex located?
The property is located at 1821 Gunnison Avenue Grand Junction, CO.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 1 bathroom; 3,510 square feet on a 0.19‑acre parcel; One unit recently updated; the other units are in good condition
