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Listing Presented by Shelly A Cross, Broker Associate with Grand Junction Location  (970) 683-2562
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Contact:Shelly A Cross, Broker Associate
Grand Junction Location
Direct Line:(970) 683-2562
Mobile:(970) 985-1525
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MLS#: 20184860 $5,100,000 541 29 1/2 Road GRAND JUNCTION CO 81504
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Description: 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
Property Type:
MULTI-FAMILY
Property Sub-Type:
Apartments
Area:
NE Grand Junction
Total Bathrooms:
72
Year Built:
1975
Age:
43
Total Units:
72
Sewer:
Sewer Installed
Virtual Tour: 541 29 1/2 Road
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Listing Provided By:
RE/MAX 4000, INC
JAN KIMBROUGH MILLER, Broker Associate