Updated Multifamily
For Sale
$355,000
2430 Bunting Avenue, Grand Junction, CO 81501
Multifamily asset with upgraded systems and individual mini-split units.
Property Size1,688 SF
Price / SF$210.31
Days on Market66
Property Features for 2430 Bunting Avenue
General Information
Standard status
Active
Size
1,688 SF
Property subtype
Multi-Family
Building Details
Year Built
1983
Listing Agency:
RONIN REAL ESTATE PROFESSIONALS ERA POWERED
Listed By:
Thomas Barkoczy · License #668
(970) 201-0257
Source:
Buygrandjunctionco
Added: Aug 11
Changed: Sep 28
Last Checked: Oct 14 at 8:23PM
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 RONIN REAL ESTATE PROFESSIONALS ERA POWERED
Investment Insights
Based on property information with market context.
This multifamily property in Grand Junction, Colorado, contains 1,688 square feet and was built in 1983. The asset has received multiple upgrades, including new mini-split systems serving each unit.
The main sewer line has also been replaced, adding a significant system improvement to the property. The address is 2430 Bunting Avenue, Grand Junction, CO 81501.
The main sewer line has also been replaced, adding a significant system improvement to the property. The address is 2430 Bunting Avenue, Grand Junction, CO 81501.
Key Highlights
- 1,688‑square‑foot multifamily property in Grand Junction, CO
- Built in 1983
- New mini‑split systems installed in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,416
Cap Rate
4.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$308,320
$308.3K
Cap Rate 7%
$220,229
$220.2K
Cap Rate 9%
$171,289
$171.3K
Market Conditions
NOI Build-Up for 1,688 SF
Gross rent
$30.4K $18.00/SF
− Vacancy
−$2.4K −$1.40/SF
EGI
$28.0K $16.61/SF
− OpEx
−$12.6K −$7.47/SF
NOI
$15.4K $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%
$308,320
Cap Rate 7%
$220,229
Cap Rate 9%
$171,289
Alternative Uses
Best Use
Apartment 5plus
$220.2K
$192.7K – $256.9K
NOI $15,416 @ 7.0% cap · market cap 4.34%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$3.20M
$2.80M – $3.74M
NOI $224,234 @ 7.0% cap · market cap 63.16%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
817
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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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?
Multifamily property - Multifamily asset with upgraded systems and individual mini-split units.
Where is this multifamily property located?
The property is located at 2430 Bunting Avenue Grand Junction, CO.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: 1,688‑square‑foot multifamily property in Grand Junction, CO; Built in 1983; New mini‑split systems installed in each unit
