Ranch-Style
For Sale
$1,190,085
3006 1/2 3018 Oakwood Drive, Grand Junction, CO 81504
Residential, Grand Junction, CO
Property Size6,103 SF
Lot Size0.10 Acres
Price / SF$195
Days on Market131
Property Features for 3006 1/2 3018 Oakwood Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R4
Bedrooms
12
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 1, Bedroom 4, Bedroom 3, Bedroom 11, Bedroom 5, Bedroom 8, Bedroom 9, Bathroom 1, Bedroom 2, Bedroom 10, Bedroom 7, Bathroom 6, Bedroom 6, Bathroom 7, Bathroom 2, Bathroom 5, Bathroom 3, Bedroom 12, Bathroom 4, Bathroom 8
Patio and Porch features
Patio
Interior features
ProgrammableThermostat
Appliances
Dishwasher, Refrigerator
Subdivision
Autumn Glenn
Lot features
Landscaped
Elementary school
Pear Park
Middle school
Grand Mesa
High school
Central
Directions
Drive north on 30 Road from D Rd, turn right on D 1/4, left on Colorow, then left onto Oakwood Dr.
Standard status
Active
APN
294316398001/002
Size
6,103 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2478
HOA Fee
$120 Annually
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
2006
Floors in Building
1
Number of units
4
Flooring type
Laminate, Carpet
Building materials
Stucco, WoodFrame
Roof type
Asphalt, Composition
Architectural style
Ranch
Listing Agency:
VENTURE GROUP
(970) 892-2200
Listed By:
Theresa Englbrecht · License #FA100006764
(970) 201-1849
Added: Apr 13
Changed: Aug 20
Last Checked: Aug 21 at 10:06PM
MLS# 20261692
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 two-unit residential property includes 6,103 square feet on a 0.10-acre lot. Both units are configured with three bedrooms and two bathrooms and were built in 2006 with ranch-style architecture. Interior features include laminate and carpet flooring, programmable thermostats, dishwashers, and refrigerators. Stucco and wood-frame construction, composition and asphalt roofing, public water service, forced-air heat, and patios are also included.
The property is located at 3006 1/2 and 3018 Oakwood Drive in Grand Junction, Colorado. The offering reflects a 5.22% cap rate and includes two residences within the duplex configuration.
The property is located at 3006 1/2 and 3018 Oakwood Drive in Grand Junction, Colorado. The offering reflects a 5.22% cap rate and includes two residences within the duplex configuration.
Key Highlights
- Two‑unit property with 6,103 square feet of building area
- Both units offer 3 bedrooms and 2 bathrooms
- Built in 2006 with ranch‑style architecture
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$60,698
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,213,960
$1.2M
Cap Rate 7%
$867,114
$867.1K
Cap Rate 9%
$674,422
$674.4K
Market Conditions
NOI Build-Up for 6,103 SF
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.
Gross rent
$93.7K $15.36/SF
− Vacancy
−$7.0K −$1.15/SF
EGI
$86.7K $14.21/SF
− OpEx
−$26.0K −$4.26/SF
NOI
$60.7K $9.95/SF
Area
Mesa County, CO
Vacancy
7.50%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,213,960
Cap Rate 7%
$867,114
Cap Rate 9%
$674,422
Alternative Uses
Best Use
Multifamily LT 5
$867.1K
$758.7K – $1.01M
NOI $60,698 @ 7.0% cap · market cap 5.10%
Second Best
Apartment 5plus
$796.2K
$696.7K – $929.0K
NOI $55,737 @ 7.0% cap · market cap 4.68%
Theoretical Best
Healthcare Medical
$11.58M
$10.13M – $13.51M
NOI $810,723 @ 7.0% cap · market cap 68.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
115
Businesses Nearby
Explore this area
Business Placement
Demographics for 81504, CO
31,150
Population
13,042
Households
2.4
Avg Household Size
38
Median Age
21%
College-Educated
91%
High-School Grad
26.9 sq mi
ZIP Area
1,158
Density / Sq Mi
$67,907
Median Household Income
$40,402
Median Earnings
$1,414
Median Rent
$290,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence provides three bedrooms, two bathrooms, a patio, and forced-air heating.
Where is this duplex located?
The property is located at 3006 1/2 3018 Oakwood Drive Grand Junction, CO.
What is the asking price?
The asking price for this property is $1,190,085.
What are key features of this property?
This property features: Two‑unit property with 6,103 square feet of building area; Both units offer 3 bedrooms and 2 bathrooms; Built in 2006 with ranch‑style architecture
