Four-Unit Property with
902 Ouray Avenue, Grand Junction, CO 81501
For Sale
$739,000
Residential, Grand Junction, CO
Property Size3,464 SF
Lot Size0.14 Acres
Price / SF$213.34
Days on Market64
Property Features for 902 Ouray Avenue
General Information
Property type
Property subtype
Zoning description
Bedrooms
Bathrooms
Full bathrooms
Rooms
Interior features
Exterior features
Appliances
Subdivision
Lot features
Elementary school
Middle school
High school
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Water source
Building Details
Year built
Number of units
Flooring type
Building materials
Roof type
Architectural style
Additional Structures
Listing Agency:
THE RESOURCE GROUP, LLC
Listed By:
Denice Niethammer · License #11579
(303) 995-4742
Added: Sep 7
Changed: Nov 8
Last Checked: Nov 9 at 6:06AM
MLS# 20264502
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.
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Investment Insights
Based on property information with market context.
This four-unit residential property at 902 Ouray Avenue includes 3,464 square feet on a 0.14-acre lot. The ranch-style configuration includes a finished basement, four bathrooms, and a large workshop with overhead doors. Three of the four units have been remodeled, and the property also features a newer roof and updated exterior paint. Forced-air heating, a metal roof, public water, and on-site amenities including a dog run are among the listed improvements.
The property is in downtown Grand Junction, near the college and downtown amenities. All four units are reported as rented, and the property has no HOA. Built in 1908, the building combines residential unit income with additional workshop space in a central Grand Junction setting.
The property is in downtown Grand Junction, near the college and downtown amenities. All four units are reported as rented, and the property has no HOA. Built in 1908, the building combines residential unit income with additional workshop space in a central Grand Junction setting.
Key Highlights
- Four residential units within 3,464 square feet
- Three of four units remodeled from top to bottom
- Large workshop with large overhead doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,452
Cap Rate
4.66%
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 4.66%
Second Best
Apartment 5plus
$451.9K
$395.5K – $527.3K
NOI $31,636 @ 7.0% cap · market cap 4.28%
Theoretical Best
Specialty Retail
$727.2K
$636.3K – $848.4K
NOI $50,905 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,718
Businesses Nearby
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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 - Four residential units include remodeled interiors, with a separate shop and overhead doors on site.
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 $739,000.
What are key features of this property?
This property features: Four residential units within 3,464 square feet; Three of four units remodeled from top to bottom; Large workshop with large overhead doors
