Two-Home Multifamily
For Sale
$765,000
2208 Mudgett Street, Grand Junction, CO 81507
Residential, Grand Junction, CO
Property Size2,380 SF
Lot Size0.89 Acres
Price / SF$321.43
Days on Market16
Property Features for 2208 Mudgett Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RSF-4
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 5, Bathroom 4, Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 3
Parking features
Open
Patio and Porch features
Deck
Interior features
CeilingFans, LaminateCounters, WalkInClosets, WalkInShower, WindowTreatments
Appliances
Dryer, Dishwasher, ElectricCooktop, ElectricOven, ElectricRange, Microwave, Refrigerator, RangeHood, Washer
Subdivision
Reed Mesa
Elementary school
Broadway
Middle school
Redlands
High school
Fruita Monument
Directions
Heading West on Broadway take a left on Reed Mesa. Take a right turn after crossing the ditch, look for the sign by the mailbox leading you to the long driveway up the hill, the homes are on the left.
Standard status
Active
APN
2945-073-23-002
Size
2,380 SF
Lot size
0.89 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3031
Utilities
Heating system
Hot Water(Heating)
Water source
Public
Amenities
RV parking area
walled garden area
Building Details
Year built
2000
Floors in Building
1
Number of units
2
Flooring type
Tile, Carpet
Building materials
WoodSiding, WoodFrame
Roof type
Composition, Asphalt
Architectural style
Ranch
Listing Agency:
RE/MAX 4000, INC
(970) 241-4000
Listed By:
Jo Jo Hubbard
(970) 250-5815
Added: Sep 30
Changed: Oct 14
Last Checked: Oct 15 at 2:06AM
MLS# 20265085
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 2,380-square-foot multifamily property contains two homes on 0.89 acres. The primary residence has two bedrooms, two bathrooms, and an attached two-car garage; the second has three bedrooms, two bathrooms, and a detached two-car garage. Built in 2000, the property also includes a deck, circular driveway, RV parking area, and walled garden. Public water serves the site, and the homes have a combined five bedrooms and four bathrooms.
The property is in the Redlands area of Grand Junction and backs to hiking trails. The remarks also note biking and recreation trails nearby, with downtown, shopping, hospitals, and the airport described as a short drive away. No homeowners association applies.
The property is in the Redlands area of Grand Junction and backs to hiking trails. The remarks also note biking and recreation trails nearby, with downtown, shopping, hospitals, and the airport described as a short drive away. No homeowners association applies.
Key Highlights
- Two homes on 0.89 acres
- 2380 square feet of property size
- Primary home: 2 bedrooms, 2 bathrooms, attached 2‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,736
Cap Rate
2.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$434,720
$434.7K
Cap Rate 7%
$310,514
$310.5K
Cap Rate 9%
$241,511
$241.5K
Market Conditions
NOI Build-Up for 2,380 SF
Gross rent
$42.8K $18.00/SF
− Vacancy
−$3.3K −$1.40/SF
EGI
$39.5K $16.61/SF
− OpEx
−$17.8K −$7.47/SF
NOI
$21.7K $9.13/SF
Area
Mesa County, CO
Vacancy
7.75%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$434,720
Cap Rate 7%
$310,514
Cap Rate 9%
$241,511
Alternative Uses
Best Use
Apartment 5plus
$310.5K
$271.7K – $362.3K
NOI $21,736 @ 7.0% cap · market cap 2.84%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$4.52M
$3.95M – $5.27M
NOI $316,159 @ 7.0% cap · market cap 41.33%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
149
Businesses Nearby
Explore this area
Business Placement
Demographics for 81507, CO
16,053
Population
7,256
Households
2.2
Avg Household Size
51
Median Age
56%
College-Educated
98%
High-School Grad
112.2 sq mi
ZIP Area
143
Density / Sq Mi
$106,039
Median Household Income
$53,084
Median Earnings
$1,580
Median Rent
$491,300
Median Home Value
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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?
Multifamily property - Two residences with separate garages share a parcel without homeowners association requirements.
Where is this multifamily property located?
The property is located at 2208 Mudgett Street Grand Junction, CO.
What is the asking price?
The asking price for this property is $765,000.
What are key features of this property?
This property features: Two homes on 0.89 acres; 2380 square feet of property size; Primary home: 2 bedrooms, 2 bathrooms, attached 2‑car garage
