Updated Duplex Near Colorado
2336 Elm Avenue Grand Junction, CO 81501
2336 Elm Avenue, Grand Junction, CO, 81501
$489,900
Pending
For Sale
$489,900
Pending
MULTI_FAMILY - Other - Grand Junction, CO
Property Size2,864 SF
Lot Size0.07 Acres
Days on Market163
Property Features for 2336 Elm Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 3
- Rooms
- Bedroom 5, Bathroom 3, Bedroom 4, Basement, Bedroom 1, Bathroom 2, Bedroom 6, Bedroom 2, Bathroom 1, Bedroom 3
- Patio and Porch features
- Patio, Deck
- Exterior features
- Shed
- Appliances
- Dryer, Dishwasher, GasOven, GasRange, Microwave, Refrigerator, RangeHood, Washer
- Standard status
- Pending
- APN
- 2945-12-09-020
- Size
- 2,864 SF
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 1941
Utilities
- Heating system
- Forced Air, Natural Gas
- Water source
- Public
Building Details
- Year built
- 1910
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Vinyl, Carpet
- Building materials
- WoodSiding, WoodFrame
- Roof type
- Composition, Asphalt
- Architectural style
- Other
- Additional Structures
- Shed(s)
Listing Agency
THE AGENCY GRAND JUNCTION
(970) 236-3636
601 MAIN ST #B, GRAND JUNCTION, CO
Listed by
Jan Kimbrough Miller - The Kimbrough Team · License #100013124
(970) 250-6781
Added: Feb 4 Checked: Jul 17 at 4:06 am
MLS# 20260501
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 well-maintained duplex is located near Colorado Mesa University. The property features two units. Unit 1 has 4 bedrooms and 2 bathrooms and will be vacant as of August 15, 2025. Unit 2 has 2 bedrooms (1 non-conforming) and 1 bathroom and will be vacant as of November 17, 2025. No pets or smoking are allowed. Major updates within the last 5 years include a new sewer line, roof and gutters, and major mechanical systems (HVAC, etc.). Ample off-street parking is available via alley, plus a small RV pad for the upper unit. The property is ideal for student or faculty housing due to its proximity to CMU. It offers the option to live in one unit and rent the other, or lease both for consistent income. The property has high cap rate potential in a growing Grand Junction market, and is located in a prime location. The property is in turnkey condition and offers strong cash flow. The lot size is 0.07 acres and the property size is 2864 square feet.
Key Highlights
- Duplex built in 1910 with 2 units: Unit 1 is 4 bed/2 bath; Unit 2 is 2 bed (1 non‑conforming)/1 bath
- Unit 1 was vacant as of 8/15/25; Unit 2 was vacant as of 11/17/2025
- Major updates in last 5 years include new sewer line, roof & gutters, and major mechanical systems (including HVAC)
Local Financial Insights For Multifamily LT 5
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 | $44.0k | $15.36 |
| − Vacancy | −$3.3k | −$1.15 |
| EGI | $40.7k | $14.21 |
| − OpEx | −$12.2k | −$4.26 |
| NOI | $28.5k | $9.95 |
2,864 SF · lease $15.36/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$406.9K
$356.1K – $474.7K
NOI $28,484 @ 7.0% cap · market cap 5.81%
Second Best
Apartment 5plus
$373.7K
$327.0K – $435.9K
NOI $26,156 @ 7.0% cap · market cap 5.34%
Theoretical Best
Healthcare Medical
$5.44M
$4.76M – $6.34M
NOI $380,454 @ 7.0% cap · market cap 77.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Turnkey, fully rented duplex near CMU with high cap rate.
Where is this duplex located?
The property is located at 2336 Elm Avenue Grand Junction, CO.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: Duplex built in 1910 with 2 units: Unit 1 is 4 bed/2 bath; Unit 2 is 2 bed (1 non‑conforming)/1 bath; Unit 1 was vacant as of 8/15/25; Unit 2 was vacant as of 11/17/2025; Major updates in last 5 years include new sewer line, roof & gutters, and major mechanical systems (including HVAC)
