1940 North Avenue, Grand Junction, CO 81501

Local realty services provided by:Better Homes and Gardens Real Estate Fruit & Wine
1940 North Avenue,Grand Junction, CO 81501
$2,200,000
  • 24 Beds
  • 23 Baths
  • 8,824 sq. ft.
  • Multi-family
  • Active
Listed by: lois bright
Office: century 21 caprock real estate
MLS#:20253540
Source:CO_GJARA

Price summary

  • Price:$2,200,000
  • Price per sq. ft.:$249.32

About this home

Excellent income opportunity offered at 7.5 CAP with this 23-unit property just 7 blocks from Colorado Mesa University and directly across from the VA Hospital. The unit mix includes 21 studio-style rooms—20 without kitchens and 1 with a full kitchen—plus one 2-bedroom, 1-bath apartment and one 1-bedroom, 1-bath apartment. Current Rent Roll is $23,010.00, projected to perform at a 8.5 CAP for 2026. Most units are ranch-style with ground-level access, while the 2-bedroom apartment is located on the second floor. The property also features a separate office space, a laundry room with hookups for 2 washers and 2 dryers, a single-car garage, an oversized 4-car garage, and two storage rooms. All units have brand new heating and cooling systems—studios are equipped with new PTAC units, and the apartments feature new mini-split systems for efficient year-round comfort. Tenants are primarily weekly or monthly, with current rents at $280/week or $950/month. Recent improvements include a

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Home facts

  • Year built:1948
  • Listing ID #:20253540
  • Added:148 day(s) ago
  • Updated:December 19, 2025 at 03:27 PM

Rooms and interior

  • Bedrooms:24
  • Total bathrooms:23
  • Full bathrooms:23
  • Living area:8,824 sq. ft.

Structure and exterior

  • Roof:Flat
  • Year built:1948
  • Building area:8,824 sq. ft.
  • Lot area:0.99 Acres

Schools

  • High school:Grand Junction
  • Middle school:Bookcliff
  • Elementary school:Orchard Avenue

Utilities

  • Water:Public
  • Sewer:Connected

Finances and disclosures

  • Price:$2,200,000
  • Price per sq. ft.:$249.32
  • Tax amount:$9,717 (2025)

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