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2045 Bunting Ave 4 Unit Apartment Building $739,000 ($184,750/Unit) 7.31% Cap Rate Grand Junction, CO 81501
Executive Summary
4plex located in the heart of town less than 1/2 mile away from CMU. Fully leased with a current cap rate of 7.31%, and a pro-forma cap rate of 8.22+%. Separate storage building included with 5 storage units, one for each tenant and one for owner/maintenance. Each tenant has their own fenced yard space, private laundry services for washer/dryers, and plenty of parking on the property. Gas/Electric separately metered. New exterior paint, all new showers throughout, and 2 of the 4 units have been fully remodeled in the last couple of years, including all new paint, flooring, fixtures, vanities, showers, countertops, etc. Units have been rented within days of going vacant for the time owner has had it - low inventory for this product in this location. Located close to new car wash that was just built on North Avenue.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $739,000 | Apartment Style | Low-Rise |
| Price Per Unit | $184,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 7.31% | Building Size | 2,988 SF |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1976 |
| Property Subtype | Apartment |
| Price | $739,000 |
| Price Per Unit | $184,750 |
| Sale Type | Investment |
| Cap Rate | 7.31% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 2,988 SF |
| No. Stories | 1 |
| Year Built | 1976 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | $1,450 | 747 |
1 1
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
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2045 Bunting Ave
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