Four-Unit Multifamily Property with
For Sale
$749,000
902 Ouray Avenue, Grand Junction, CO 81501
All four residences are occupied, and the property also includes a shop with overhead doors.
Property Size3,464 SF
Price / SF$216.22
Days on Market57
Property Features for 902 Ouray Avenue
General Information
Standard status
Active
Size
3,464 SF
Property subtype
Quadruplex
Occupancy
100%
Additional Details
Multifamily Units
4
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$2,040
Building Details
Building Size
3,464 SF
Year Built
1908
Construction
ranch style
Listing Agency:
The Van Gundy Group
Listed By:
Jennifer Van Gundy
(970) 250-4785
Source:
Thevangundygroup
Added: Sep 7
Changed: Nov 1
Last Checked: Nov 1 at 4:03PM
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 The Van Gundy Group
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Investment Insights
Based on property information with market context.
Built in 1908, this four-unit residential property includes a finished basement and an on-site shop with overhead doors. Three of the residences have undergone full interior renovations. The roof and exterior paint have also been updated.
The property is in downtown Grand Junction, near the college and downtown amenities. There is no HOA.
The property is in downtown Grand Junction, near the college and downtown amenities. There is no HOA.
Key Highlights
- Four residential units, all occupied
- Three units have been remodeled throughout
- On‑site shop with overhead doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,452
Cap Rate
4.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$689,040
$689.0K
Cap Rate 7%
$492,171
$492.2K
Cap Rate 9%
$382,800
$382.8K
Market Conditions
NOI Build-Up for 3,464 SF
Gross rent
$53.2K $15.36/SF
− Vacancy
−$4.0K −$1.15/SF
EGI
$49.2K $14.21/SF
− OpEx
−$14.8K −$4.26/SF
NOI
$34.5K $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 Rate 5%
$689,040
Cap Rate 7%
$492,171
Cap Rate 9%
$382,800
Alternative Uses
Best Use
Multifamily LT 5
$492.2K
$430.7K – $574.2K
NOI $34,452 @ 7.0% cap · market cap 4.60%
Second Best
Apartment 5plus
$451.9K
$395.5K – $527.3K
NOI $31,636 @ 7.0% cap · market cap 4.22%
Theoretical Best
Healthcare Medical
$6.57M
$5.75M – $7.67M
NOI $460,158 @ 7.0% cap · market cap 61.44%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,718
Businesses Nearby
Explore this area
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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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - All four residences are occupied, and the property also includes a shop with overhead doors.
Where is this quadplex located?
The property is located at 902 Ouray Avenue Grand Junction, CO.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Four residential units, all occupied; Three units have been remodeled throughout; On‑site shop with overhead doors
