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174 S Mulberry St - 174 S Mulberry Street 7 Unit Apartment Building Offered at $1,350,000 at a 7.40% Cap Rate Fruita, CO 81521
Executive Summary
The property consists of a fully renovated early-1900s building reconfigured into seven income-producing units, each thoughtfully upgraded with durable, high-end finishes including granite countertops, tile and marble bathrooms, and distinctive design elements that drive premium nightly rates and repeat bookings.
The asset has an established presence on Airbnb and VRBO with a proven track record of strong occupancy and consistent cash flow. Historical NOI averages approximately $115,000 annually. Recent strategic leasing of two units to long-term tenants provides income stability while maintaining upside through short-term rental demand.
This is a true plug-and-play investment: the property is being offered fully furnished with all operational systems, booking platforms, and management processes already in place. Minimal ramp-up required for a new owner.
Additional value-add potential exists with the opportunity to convert the third floor into an approximately 800 SF eighth unit, creating immediate upside in both revenue and asset valuation.
Property Facts
| Price | $1,350,000 | No. Units | 7 |
| Price Per Unit | $192,857 | Property Type | Multifamily |
| Sale Type | Investment | Building Size | 4,908 SF |
| Cap Rate | 7.40% | No. Stories | 3 |
| Sale Condition | Business Value Included | Year Built/Renovated | 1893/2021 |
| Price | $1,350,000 |
| Price Per Unit | $192,857 |
| Sale Type | Investment |
| Cap Rate | 7.40% |
| Sale Condition | Business Value Included |
| No. Units | 7 |
| Property Type | Multifamily |
| Building Size | 4,908 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1893/2021 |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Heating
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- Refrigerator
- Oven
- Range
- Coffee System
- Patio
- Porch
- Wet Bar
Site Amenities
- Private Bathroom
About 174 S MULBERRY ST , FRUITA, CO 81521
This is a rare, turnkey investment opportunity just two blocks from the heart of downtown Fruita, Colorado—one of the region’s most desirable destination communities. This beautifully restored early-1900s property has been completely remodeled from top to bottom and thoughtfully transformed into seven fully operational apartments and suites. Each unit has been meticulously designed with its own unique style, featuring granite countertops, custom tile and marble bathrooms, and distinctive finishes that create a memorable guest experience. The property has built a strong reputation on short-term rental platforms like Airbnb and VRBO, maintaining consistent, near year-round occupancy. To further stabilize income, two units have recently been leased to long-term tenants, balancing demand and revenue streams. There is truly nothing else like this in Fruita—this vibrant, character-rich property stands out with its charm, color, and proven performance. The sale includes all furnishings, making this a seamless, plug-and-play operation. Sellers are committed to a smooth transition and will assist the buyer in transferring systems and processes. With a historical NOI averaging approximately $115,000 annually and additional upside potential—including the opportunity to convert the third floor into an additional ~800 SF income-producing unit—this property offers both immediate cash flow and future growth. All management systems are fully established and ready for a new owner to step in and succeed. If you’ve been searching for a profitable, turnkey business with charm, scalability, and strong demand—this is it.
Property Taxes
| Parcel Number | 2697-172-23-019 | Improvements Assessment | $23,680 |
| Land Assessment | $7,180 | Total Assessment | $30,860 |
Property Taxes
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174 S Mulberry St - 174 S Mulberry Street
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