Skip to main content
Back to Search Results
|

1940 North Avenue, Grand Junction, CO 81501

Show All 17 Photos
For Sale

$2,650,000

24 beds

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • Newly Listed
    Time on Century 21

  • Over 50 Years Old
    Age

Explore this Property

Excellent income opportunity 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 $21,470.00, projected to perform at a 6.5 CAP for 2025 now that upgrades are completed. 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 complete electrical overhaul, updated plumbing, roof updates, new flooring and fresh paint in all 21 studios, and upgraded signage. Situated on a .99-acre lot, the property has strong current returns with significant upside potential through rent increases, kitchen additions, or longer-term tenant conversion. The location, just minutes from higher education and healthcare hubs, ensures consistent demand and low vacancy. This is a well-maintained, cash-flowing asset with room to enhance profitability and value over time.
MLS# 20253540

Courtesy Of CENTURY 21 CAPROCK REAL ESTATE

(970) 257-0500

Property Features

  • Age
    Over 50 Years Old
  • Appliances
    Oven, Range, Refrigerator
  • Architecture Style
    Ranch
  • Exterior Type
    Block
  • Floor Covering
    Vinyl
  • Lot Size
    0.99 Acres

Map and Directions

Directions to 1940 North Avenue, Grand Junction, CO 81501

Home seller CENTURY 21 CapRock Real Estate

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 CapRock Real Estate

(970) 257-0500
Learn More About Us

Mortgage Calculator

$
$ %
Loan Term
%
Invalid number

$ /year
$ /year
$ /month

Monthly Payment Breakdown

  • Principle and Interest
    $0
  • Property Taxes
    $0
  • Hazard Insurance
    $0
  • Private Mortgage Insurance
    $0
  • HOA Dues
    $0
  • Total Monthly Payment:
    $0

Calculators provided for estimating purposes only. Consult with your lender to determine precise payment requirements.

An Equal Opportunity Company

Copyright © 2025 Grand Junction Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Data powered by Attom Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.

This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Loading