GREAT VALUE ADD opportunity to own this 72 unit apartment complex on 4.06 acres. Orig. built in '78, professionally maintained & updated. Units stay full except for brief period between tenants to paint & clean. Pet free, smoke free. Tenants pay electric (individually metered), landlord covers water, sewer, trash & gas. 5 coin-op washers, 5 coin-op dryers. Backs to Bookcliff Middle School track & field plus large open green space in center of buildings. POTENTIAL TO ADD INCOME PRODUCING BUILDING ON VACANT 1 ACRE ON WEST SIDE OF LOT. 3 POTENTIAL ADDITIONAL UNITS AVAILABLE FOR RENT (currently used for book keeping office and two for shop space). Room to increase even the section 8 rents. Two 3 bed units at $775, Fifty two 2 beds at 700 & 725, eighteen 1 beds at 625. Net monthly income at $24,810 plus coin op laundry (added back owner's debt and pay). Approx. 75% are section 8 with auto-dep

  • MLS# 20184860
  • Sub-Type Resale
  • Status Active
  • Year 1975
  • Days On Site 113
SQ Feet 50,816
Units 72
Listing Provided By:
JAN KIMBROUGH MILLER  of  RE MAX 4000 INC
 
 
 
 
 
 
 
 
 
 
 
 
 
this listing $5,100,000
2,118.36%
$229,900 in 81504
this listing 50,816 SqFt
3,164.76%
1,557 SqFt in 81504
this listing $100 $/SqFt
32.14%
$148 $/SqFt in 81504
this listing 113 on site
8.13%
123 on site in 81504

Location

State CO
City Grand Junction
Zip Code 81504
Area NE Grand Junction

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