Grand Junction Quadplex
2931 Paula Lane, Grand Junction, CO 81504
MULTI_FAMILY - Other - Grand Junction, CO
Property size:
6,642 SFLot size:
0.27 AcresPrice / SF:
$143/SF- Added:
- Apr 28, 2026
- Days on Market:
- 57
- Last Refresh:
- Jun 23 at 8:06 am
Property Features for 2931 Paula Lane
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 12
- Bathrooms
- 10
- Rooms
- Bedroom 7, Bedroom 12, Bedroom 1, Bathroom 9, Bedroom 9, Bedroom 10, Bathroom 8, Bedroom 6, Bathroom 7, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 5, Bedroom 4, Bedroom 8, Bathroom 5, Bedroom 11, Bathroom 3, Bathroom 4, Bathroom 10, Bathroom 6
- Parking features
- Assigned
- Patio and Porch features
- Patio
- Interior features
- CeilingFans, LaminateCounters, VaultedCeilings, WalkInClosets
- Appliances
- Dryer, Dishwasher, ElectricOven, ElectricRange, Disposal, Microwave, Refrigerator, Washer
- Standard status
- Active
- APN
- 2943-202-23-001-4
- Size
- 6,642 SF
- Lot size
- 0.27 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 5262
Utilities
- Heating system
- Hot Water(Heating), Baseboard
- Water source
- Public
Building Details
- Year built
- 2008
- Floors in Building
- 2
- Number of units
- 4
- Flooring type
- Linoleum, Vinyl, Carpet, Tile
- Building materials
- VinylSiding, WoodFrame
- Roof type
- Asphalt, Composition
- Architectural style
- Other
Listing agent Jaida Mckeever (970) 250-0927
Listing office BERKSHIRE HATHAWAY HOMESERVICES COLORADO PROPERTIES 511 E LIONSHEAD CIRCLE, VAIL, CO (970) 476-2482
Listing date Apr 28, 2026
MLS# 20262178
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.
HighLights
- Year built 2008 with vinyl siding and wood‑frame construction
- Long‑term tenants in place with rental history; one unit has refreshed interiors with new paint, carpet, and LVP
- Public water supply
- Heating includes hot water (heating) and baseboard
- Appliances included: washer, dryer, refrigerator, dishwasher, microwave, electric range, electric oven, and disposal
- Patio and assigned parking; interior features include vaulted ceilings, ceiling fans, laminate counters, and walk‑in closets
Overview
This quadplex investment property features four residential units totaling 6,642 square feet. The current ownership is positioned around long-term tenancy, supported by a strong rental history. One unit has been refreshed with new paint, carpet, and LVP, adding value to the existing mix while preserving the overall income-focused profile.
The property is located in Grand Junction, Colorado on Paula Lane, within a short drive to Colorado Mesa University, downtown Grand Junction, and St. Mary’s Hospital. This makes the building particularly relevant for tenants who benefit from convenient access to major local employment and service destinations. The seller states that financial information is available for qualified parties.
For buyers seeking a residential income asset, this quadplex is well suited to an investor looking for in-place cash flow with long-term tenants and a measured capital improvement item already completed in one unit. The combination of existing occupancy and the noted interior refresh can support straightforward leasing continuity while providing an opportunity to evaluate the remaining units as part of a longer-range plan.
The property is located in Grand Junction, Colorado on Paula Lane, within a short drive to Colorado Mesa University, downtown Grand Junction, and St. Mary’s Hospital. This makes the building particularly relevant for tenants who benefit from convenient access to major local employment and service destinations. The seller states that financial information is available for qualified parties.
For buyers seeking a residential income asset, this quadplex is well suited to an investor looking for in-place cash flow with long-term tenants and a measured capital improvement item already completed in one unit. The combination of existing occupancy and the noted interior refresh can support straightforward leasing continuity while providing an opportunity to evaluate the remaining units as part of a longer-range plan.
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 | $102.0k | $15.36 |
| − Vacancy | −$7.7k | −$1.15 |
| EGI | $94.4k | $14.21 |
| − OpEx | −$28.3k | −$4.26 |
| NOI | $66.1k | $9.95 |
6,642 SF · lease $15.36/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$943.7K
$825.7K – $1.10M
NOI $66,059 @ 7.0% cap · market cap 6.95%
Second Best
Apartment 5plus
$866.6K
$758.3K – $1.01M
NOI $60,660 @ 7.0% cap · market cap 6.39%
Theoretical Best
Healthcare Medical
$12.60M
$11.03M – $14.71M
NOI $882,323 @ 7.0% cap · market cap 92.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Grand Junction
- County
- Mesa
- State
- Colorado
- Longitude
- -108.508787
- Latitude
- 39.061916
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Quadplex with long-term tenants and recent unit refresh, offering an established rental history for investors.
Where is this quadplex located?
The property is located at 2931 Paula Lane Grand Junction, CO.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Year built 2008 with vinyl siding and wood‑frame construction; Long‑term tenants in place with rental history; one unit has refreshed interiors with new paint, carpet, and LVP; Public water supply
