501 Independent Avenue, Grand Junction, CO 81505

Grand Junction
Local realty services provided by:ERA New Age
501 Independent Avenue,Grand Junction, CO 81505
$2,900,000
  • 33 Beds
  • 23 Baths
  • 17,259 sq. ft.
  • Multi-family
  • Active
Listed by: brandon palmer
Office: re/max 4000, inc
MLS#:20262136
Source:CO_GJARA

Price summary

  • Price:$2,900,000
  • Price per sq. ft.:$168.03

About this home

Rare investment opportunity. This apartment complex is centrally located with 12 units (nine 3bed/2bath and three 2bed/2bath units) all with attached garage spaces. This complex boasts several upsides including new siding, roofing, stairs, fire sprinkler systems and improved insulation. Very low maintenance and almost ZERO vacancy. Rents are going up through attrition and units are typically rented prior to changing from one tenant to another. This property also has potential to add another 4 plex with excellent views. All units have washer/dryer hookups and long term projected maintenance expense is very low. All units include an electric range oven, refrigerator and dishwasher. NOI expected to increase by $8k-$9k in 2027. All information deemed reliable, buyer to verify.

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Home facts

  • Year built:2001
  • Subdivision & Development:Area 15 Merchand
  • Listing ID #:20262136
  • Added:181 day(s) ago
  • Updated:November 04, 2026 at 04:49 PM

Rooms and interior

  • Bedrooms:33
  • Total bathrooms:23
  • Full bathrooms:23
  • Flooring:Carpet
  • Kitchen Description:Dishwasher, Electric Oven, Electric Range
  • Living area:17,259 sq. ft.

Heating and cooling

  • Cooling:Evaporative Cooling
  • Heating:Baseboard, Hot Water, Natural Gas

Structure and exterior

  • Roof:Asphalt, Composition
  • Year built:2001
  • Building area:17,259 sq. ft.
  • Lot area:0.16 Acres
  • Lot Features:Xeriscape
  • Construction Materials:Wood Frame, Wood Siding
  • Foundation Description:Slab
  • Levels:2 Story

Schools

  • High school:Grand Junction
  • Middle school:West
  • Elementary school:Pomona

Utilities

  • Water:Public
  • Sewer:Connected

Finances and disclosures

  • Price:$2,900,000
  • Price per sq. ft.:$168.03
  • Tax amount:$7,513 (2025)

Features and amenities

  • Appliances:Dishwasher, Electric Oven, Electric Range
  • Laundry features:Dryer Hookup, Washer Hookup
  • Amenities:Window Coverings

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