Triplex with Fenced
New
For Sale
$495,000
3234 1/2 White Avenue, Clifton, CO 81520
Residential, Clifton, CO
Property Size3,072 SF
Price / SF$161.13
Days on Market3
Property Features for 3234 1/2 White Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
RMF-8
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 6, Bathroom 3, Bedroom 3, Bathroom 1
Patio and Porch features
Patio
Pets allowed
Yes
Interior features
Pantry, WindowTreatments
Appliances
Dishwasher, ElectricOven, ElectricRange, Refrigerator
Subdivision
Kimwood Estates
Elementary school
Rocky Mountain
Middle school
MT Garfield (Mesa County)
High school
Palisade
Directions
Driving south on 32 Road, turn left onto D 1/2 Road, right onto 32 3/8 Road, immediate left onto White Ave. Property will be the second one on your left.
Standard status
Active
APN
2943-143-07-018
Size
3,072 SF
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2273
HOA Fee
$525 Monthly
Utilities
Heating system
Hot Water(Heating), Baseboard
Water source
Public
Building Details
Year built
1981
Floors in Building
2
Number of units
3
Flooring type
Vinyl, Carpet
Building materials
WoodSiding, WoodFrame
Roof type
Asphalt, Composition
Architectural style
Other
Listing Agency:
MOUNTAIN VALLEY REAL ESTATE
(970) 263-7250
Listed By:
Micah Fritzel
(970) 261-1150
Added: Sep 23
Changed: Sep 25
Last Checked: Sep 25 at 8:06AM
MLS# 20264781
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 multifamily offering includes 3 of 4 units within a fourplex, with each residence deeded separately. The units provide 2 bedrooms and 1 bathroom, along with a fenced backyard. Total property size is 3,072 square feet, and the building was constructed in 1981 with wood-frame construction, wood siding, composition and asphalt roofing, and public water service.
Units 3 and 4 received interior and exterior updates in 2024, while exterior paint was also completed for units 2, 3, and 4. Interior features include pantries and window treatments, with electric ranges, electric ovens, refrigerators, and dishwashers provided. Vinyl and carpet flooring, baseboard and hot-water heating, and patios add to the existing configuration. Utility-related HOA administration is currently handled by the owner.
Units 3 and 4 received interior and exterior updates in 2024, while exterior paint was also completed for units 2, 3, and 4. Interior features include pantries and window treatments, with electric ranges, electric ovens, refrigerators, and dishwashers provided. Vinyl and carpet flooring, baseboard and hot-water heating, and patios add to the existing configuration. Utility-related HOA administration is currently handled by the owner.
Key Highlights
- 3 of 4 units in a fourplex, with each unit deeded separately
- 3,072 square feet; built in 1981
- Each unit includes 2 bedrooms, 1 bathroom, and a fenced backyard
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
$30,553
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
6.17%
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%
$611,060
$611.1K
Cap Rate 7%
$436,471
$436.5K
Cap Rate 9%
$339,478
$339.5K
Market Conditions
NOI Build-Up for 3,072 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
$47.2K $15.36/SF
− Vacancy
−$3.5K −$1.15/SF
EGI
$43.6K $14.21/SF
− OpEx
−$13.1K −$4.26/SF
NOI
$30.6K $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%
$611,060
Cap Rate 7%
$436,471
Cap Rate 9%
$339,478
Alternative Uses
Best Use
Multifamily LT 5
$436.5K
$381.9K – $509.2K
NOI $30,553 @ 7.0% cap · market cap 6.17%
Second Best
Apartment 5plus
$400.8K
$350.7K – $467.6K
NOI $28,056 @ 7.0% cap · market cap 5.67%
Theoretical Best
Healthcare Medical
$5.83M
$5.10M – $6.80M
NOI $408,084 @ 7.0% cap · market cap 82.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
131
Businesses Nearby
Explore this area
Business Placement
Demographics for 81520, CO
14,042
Population
5,411
Households
2.6
Avg Household Size
35
Median Age
11%
College-Educated
81%
High-School Grad
20.5 sq mi
ZIP Area
685
Density / Sq Mi
$50,769
Median Household Income
$34,375
Median Earnings
$1,013
Median Rent
$228,000
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?
Triplex - Three separately deeded residences offer two-bedroom layouts, private outdoor space, and shared utility administration.
Where is this triplex located?
The property is located at 3234 1/2 White Avenue Clifton, CO.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 3 of 4 units in a fourplex, with each unit deeded separately; 3,072 square feet; built in 1981; Each unit includes 2 bedrooms, 1 bathroom, and a fenced backyard
