Updated 4-Unit
For Sale
$719,000
2045 Bunting Avenue, Grand Junction, CO 81501
Residential, Grand Junction, CO
Property Size2,989 SF
Lot Size0.20 Acres
Price / SF$240.55
Days on Market93
Property Features for 2045 Bunting Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
RM-8
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 7, Bathroom 3, Bathroom 4, Bedroom 8, Bedroom 3, Bedroom 2, Bedroom 5, Bedroom 6, Bathroom 1, Bathroom 2, Bedroom 1
Pets allowed
Yes
Exterior features
DogRun, Shed
Appliances
Dishwasher, ElectricOven, ElectricRange, Disposal, Refrigerator, RangeHood
Lot features
Corner Lot, Landscaped
Elementary school
Orchard Avenue
Middle school
Bookcliff
High school
Grand Junction
Directions
From north avenue and N 21st Street, turn north, turn left on Bunting Ave, property on your left.
Subdivision
Grand Junction City
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
Amenities
separate storage building
fenced yard space
private laundry services
Building Details
Year built
1976
Floors in Building
1
Number of units
4
Flooring type
Vinyl, Laminate, Carpet
Building materials
BrickVeneer, WoodSiding, WoodFrame
Roof type
Composition, Asphalt
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
Changed: Oct 8
Last Checked: Oct 15 at 2:06AM
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 four-unit property offers 2,989 square feet on a 0.2-acre parcel. All residences are leased, with separate gas and electric meters. Recent work includes new exterior paint, replacement showers throughout, and full interior renovations in two units. A detached storage building provides five storage spaces, and each residence has a fenced yard, private washer and dryer service, and access to on-site parking.
The property is less than 1/2 mile from CMU. Built in 1976, the building also reports a current 7.5% cap rate and a pro forma cap rate of 8.5+%.
The property is less than 1/2 mile from CMU. Built in 1976, the building also reports a current 7.5% cap rate and a pro forma cap rate of 8.5+%.
Key Highlights
- Four‑unit property with 2,989 square feet on 0.2 acres
- Fully leased; current cap rate of 7.5% and pro‑forma cap rate of 8.5+%
- Separate storage building contains 5 spaces, including one for the owner or maintenance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,727
Cap Rate
4.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$594,540
$594.5K
Cap Rate 7%
$424,671
$424.7K
Cap Rate 9%
$330,300
$330.3K
Market Conditions
NOI Build-Up for 2,989 SF
Gross rent
$45.9K $15.36/SF
− Vacancy
−$3.4K −$1.15/SF
EGI
$42.5K $14.21/SF
− OpEx
−$12.7K −$4.26/SF
NOI
$29.7K $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%
$594,540
Cap Rate 7%
$424,671
Cap Rate 9%
$330,300
Alternative Uses
Best Use
Multifamily LT 5
$424.7K
$371.6K – $495.5K
NOI $29,727 @ 7.0% cap · market cap 4.13%
Second Best
Apartment 5plus
$390.0K
$341.2K – $455.0K
NOI $27,298 @ 7.0% cap · market cap 3.80%
Theoretical Best
Healthcare Medical
$5.67M
$4.96M – $6.62M
NOI $397,059 @ 7.0% cap · market cap 55.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
807
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied residences include private laundry, fenced outdoor areas, and a separate storage building.
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 $719,000.
What are key features of this property?
This property features: Four‑unit property with 2,989 square feet on 0.2 acres; Fully leased; current cap rate of 7.5% and pro‑forma cap rate of 8.5+%; Separate storage building contains 5 spaces, including one for the owner or maintenance
