Residential Income Property with Four
215 Shadow Mesa Street Grand Junction, CO 81503
215 Shadow Mesa Street, Grand Junction, CO, 81503
$1,650,000
For Sale
$1,650,000
MULTI_FAMILY - Ranch - Grand Junction, CO
Property Size6,159 SF
Lot Size0.11 Acres
Price / SF$267.90
Days on Market234
Property Features for 215 Shadow Mesa Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Bedrooms
- 9
- Bathrooms
- 8
- Rooms
- Bathroom 8, Bathroom 4, Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 6, Bedroom 8, Bedroom 9, Bathroom 5, Bedroom 3, Bedroom 7, Bathroom 6, Bathroom 7, Bathroom 2, Bedroom 5, Bedroom 2, Bathroom 3
- Parking features
- Open
- Patio and Porch features
- Patio
- Pets allowed
- Yes
- Interior features
- GraniteCounters, Pantry, WalkInClosets, WalkInShower, WindowTreatments, ProgrammableThermostat
- Appliances
- Dishwasher, ElectricOven, ElectricRange, Disposal, InductionCooktop, Microwave, Refrigerator
- Standard status
- Active
- APN
- 2945-253-50-040
- Size
- 6,159 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 8217
Utilities
- Heating system
- Electric (Heating), Heat Pump (Heating), Forced Air
- Cooling system
- Central Air, Heat Pump, Whole House Fan
- Water source
- Public
Building Details
- Year built
- 2024
- Floors in Building
- 1
- Number of units
- 4
- Flooring type
- Vinyl, Carpet
- Building materials
- Stucco, WoodFrame
- Roof type
- Composition, Asphalt
- Architectural style
- Ranch
Listing Agency
BOA SALES GROUP
(970) 408-0014
218 EASTER HILL DR, Grand Junction, CO
Listed by
Wendi Gechter · License #FA100083993
(970) 408-0014
Added: Nov 25, 2025 Checked: Jul 17 at 3:06 pm
MLS# 20255475
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.
Investment Insights
Based on property information with market context.
This offering includes four newly built single-family homes used as long-term rentals, with each home deeded individually. The homes include a mix of layouts: three 2-bedroom residences with 2 bathrooms and one 3-bedroom residence with 2 bathrooms. Reported home sizes range from 1,515 to 1,631 square feet, and each is described as built within the last 2–3 years. The property is presented as turnkey for an investor, and documents, rents, and leases are available upon request for serious buyers.
The four homes are located in Grand Junction, Colorado. Addresses included are 215 Shadow Mesa St., 221 Shadow Mesa St., 2747 Storm Ave., and 2745 Eclipse Ave. The current tenant structure is described as long-term, with leases reported to run until mid-2026.
Tenant-paid utilities include electric, water, and sewer. Per the HOA, front yard landscaping is maintained, and the HOA is described as paying for fiber, trash, and snow removal at $130 per month per property. A virtual tour is available for 221 Shadow Mesa St., which is also stated to be the same model as 215 Shadow Mesa St., providing a helpful reference for how the similar homes are laid out.
The four homes are located in Grand Junction, Colorado. Addresses included are 215 Shadow Mesa St., 221 Shadow Mesa St., 2747 Storm Ave., and 2745 Eclipse Ave. The current tenant structure is described as long-term, with leases reported to run until mid-2026.
Tenant-paid utilities include electric, water, and sewer. Per the HOA, front yard landscaping is maintained, and the HOA is described as paying for fiber, trash, and snow removal at $130 per month per property. A virtual tour is available for 221 Shadow Mesa St., which is also stated to be the same model as 215 Shadow Mesa St., providing a helpful reference for how the similar homes are laid out.
Key Highlights
- Listing includes 4 new single‑family homes, all currently long‑term rentals (leased until mid 2026).
- Unit mix: 2/2/1 (1544 SF), 2/2/1 (1469 SF), 3/2/2 (1631 SF), and 2/2/1 (1515 SF).
- Tenant‑paid utilities: electric, water, and sewer for each leased home.
Local 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 | $110.9k | $18.00 |
| − Vacancy | −$8.6k | −$1.40 |
| EGI | $102.3k | $16.61 |
| − OpEx | −$46.0k | −$7.47 |
| NOI | $56.2k | $9.13 |
6,159 SF · lease $18.00/SF/yr · vacancy 7.75% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$803.6K
$703.1K – $937.5K
NOI $56,249 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$11.69M
$10.23M – $13.64M
NOI $818,162 @ 7.0% cap · market cap 49.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Single family properties
Similar For Sale Nearby
FAQs
What type of property is this?
Single family property - Four newly built, individually deeded rental homes leased through mid-2026 with tenant-paid utilities and HOA-managed services.
Where is this single family property located?
The property is located at 215 Shadow Mesa Street Grand Junction, CO.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Listing includes 4 new single‑family homes, all currently long‑term rentals (leased until mid 2026).; Unit mix: 2/2/1 (1544 SF), 2/2/1 (1469 SF), 3/2/2 (1631 SF), and 2/2/1 (1515 SF).; Tenant‑paid utilities: electric, water, and sewer for each leased home.
