Duplex with Detached
For Sale
$475,000
1904 N 7th Street, Grand Junction, CO 81501
Two residences have separate laundry areas, distinct floor plans, and garage access.
Property Size3,138 SF
Lot Size0.41 Acres
Price / SF$151.37
Days on Market25
Property Features for 1904 N 7th Street
General Information
Standard status
Active
Size
3,138 SF
Total Parking Spaces
3
Lot size
0.41 Acres
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/3/4BA
Multifamily Units
2
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$2,489
Amenities
laundry room
Building Details
Building Size
3,138 SF
Year Built
1949
Buildings
1
Listing Agency:
The Van Gundy Group
Listed By:
Jennifer Van Gundy
(970) 250-4785
Source:
Thevangundygroup
Added: Oct 8
Changed: Nov 1
Last Checked: Nov 1 at 4:13PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Van Gundy Group
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Investment Insights
Based on property information with market context.
This 3,138-SF duplex, built in 1949, contains two residences on a 0.41-acre parcel. Unit A measures 1,700 SF and has three bedrooms, a five-piece bath, vaulted ceilings, and a laundry room with storage. Unit B is just over 1,400 SF, with two bedrooms, a three-quarter bath, a sunroom, and its own laundry area. A new roof was installed in 2023.
Two detached garages sit behind the property: one accommodates a car, and the other accommodates two. The two-car garage has doors at both ends, allowing drive-through access to Orchard Avenue. The property is two blocks from CMU and two blocks from St. Mary’s.
Two detached garages sit behind the property: one accommodates a car, and the other accommodates two. The two-car garage has doors at both ends, allowing drive-through access to Orchard Avenue. The property is two blocks from CMU and two blocks from St. Mary’s.
Key Highlights
- 3,138‑SF duplex on 0.41 acres
- Unit A: 1,700 SF, three bedrooms, one five‑piece bath, vaulted ceilings, and laundry with storage
- Unit B: just over 1,400 SF, two bedrooms, one three‑quarter bath, sunroom, and separate laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,209
Cap Rate
6.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$624,180
$624.2K
Cap Rate 7%
$445,843
$445.8K
Cap Rate 9%
$346,767
$346.8K
Market Conditions
NOI Build-Up for 3,138 SF
Gross rent
$48.2K $15.36/SF
− Vacancy
−$3.6K −$1.15/SF
EGI
$44.6K $14.21/SF
− OpEx
−$13.4K −$4.26/SF
NOI
$31.2K $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%
$624,180
Cap Rate 7%
$445,843
Cap Rate 9%
$346,767
Alternative Uses
Best Use
Multifamily LT 5
$445.8K
$390.1K – $520.2K
NOI $31,209 @ 7.0% cap · market cap 6.57%
Second Best
Apartment 5plus
$409.4K
$358.2K – $477.7K
NOI $28,659 @ 7.0% cap · market cap 6.03%
Theoretical Best
Healthcare Medical
$5.96M
$5.21M – $6.95M
NOI $416,852 @ 7.0% cap · market cap 87.76%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,417
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?
Duplex - Two residences have separate laundry areas, distinct floor plans, and garage access.
Where is this duplex located?
The property is located at 1904 N 7th Street Grand Junction, CO.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 3,138‑SF duplex on 0.41 acres; Unit A: 1,700 SF, three bedrooms, one five‑piece bath, vaulted ceilings, and laundry with storage; Unit B: just over 1,400 SF, two bedrooms, one three‑quarter bath, sunroom, and separate laundry
