Grand Junction Townhome Investment
581 W Indian Creek Drive Grand Junction, CO 81501
581 W Indian Creek Drive, Grand Junction, CO, 81501
$1,636,000
For Sale
$1,636,000
MULTI_FAMILY - Grand Junction, CO
Property Size6,266 SF
Lot Size0.08 Acres
Price / SF$261.09
Days on Market369
Property Features for 581 W Indian Creek Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 12
- Bathrooms
- 9
- Rooms
- Bedroom 9, Bedroom 6, Bedroom 8, Bathroom 1, Bedroom 7, Bedroom 1, Bedroom 10, Bathroom 5, Bedroom 3, Bathroom 2, Bedroom 11, Bedroom 2, Bathroom 3, Bedroom 4, Bedroom 5, Bathroom 6, Bathroom 9, Bedroom 12, Bathroom 4, Bathroom 8, Bathroom 7
- Patio and Porch features
- Patio
- Interior features
- CeilingFans, Pantry, WalkInClosets, WalkInShower
- Appliances
- Dryer, Dishwasher, ElectricCooktop, ElectricOven, ElectricRange, Disposal, Microwave, Refrigerator, RangeHood, Washer
- Standard status
- Active
- APN
- 2943-071-81-007
- Size
- 6,266 SF
- Lot size
- 0.08 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 7412
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 2022
- Number of units
- 4
- Flooring type
- Carpet, Vinyl
- Building materials
- Stone, Stucco, WoodFrame
- Roof type
- Composition, Asphalt
Listing Agency
VENTURE GROUP
(970) 892-2200
627 24 1/2 RD UNIT D, GRAND JUNCTION, CO
Listed by
Cory Carlson · License #100087222
(970) 261-9311
Added: Jul 14, 2025 Checked: Jul 17 at 12:06 am
MLS# 20253883
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 investment opportunity includes four townhomes located at 581 W Indian Creek Drive in Grand Junction, Colorado. The units, specifically units 2, 4, 5, and 6, offer a 5.7% cap rate. Two of the four units are currently leased on 1-year terms, providing an income-producing asset in a strong rental market. Constructed in 2022, the units feature modern floor plans. Units 2, 5, and 6 are single-story layouts with 3 bedrooms and 2 bathrooms, featuring an open concept. Unit 4 is a two-story unit with 3 bedrooms and 3 bathrooms. Each unit is equipped with a refrigerator, dishwasher, range, microwave, and in-unit washer and dryer. Additionally, all units include attached 2-car garages. The total property size is 6266 square feet, situated on a lot of 0.08 acres.
Key Highlights
- Four townhomes built in 2022 at 581 W Indian Creek Drive (units 2, 4, 5, and 6).
- 5.7% cap rate with two of four units currently leased on 1‑year terms.
- Unit 4 is a 2‑story layout with 3 bedrooms and 3 bathrooms.
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 | $96.2k | $15.36 |
| − Vacancy | −$7.2k | −$1.15 |
| EGI | $89.0k | $14.21 |
| − OpEx | −$26.7k | −$4.26 |
| NOI | $62.3k | $9.95 |
6,266 SF · lease $15.36/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$890.3K
$779.0K – $1.04M
NOI $62,319 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$817.5K
$715.3K – $953.8K
NOI $57,226 @ 7.0% cap · market cap 3.50%
Theoretical Best
Healthcare Medical
$11.89M
$10.40M – $13.87M
NOI $832,375 @ 7.0% cap · market cap 50.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four modern townhomes built in 2022 with strong rental income.
Where is this quadplex located?
The property is located at 581 W Indian Creek Drive Grand Junction, CO.
What is the asking price?
The asking price for this property is $1,636,000.
What are key features of this property?
This property features: Four townhomes built in 2022 at 581 W Indian Creek Drive (units 2, 4, 5, and 6).; 5.7% cap rate with two of four units currently leased on 1‑year terms.; Unit 4 is a 2‑story layout with 3 bedrooms and 3 bathrooms.
