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1405 Elm Avenue
1405 Elm Avenue
1405 Elm Avenue
1405 Elm Avenue
1405 Elm Avenue
1405 Elm Avenue
1405 Elm Avenue
1405 Elm Avenue
1405 Elm Avenue
1405 Elm Avenue
1405 Elm Avenue
1405 Elm Avenue
1405 Elm Avenue
1405 Elm Avenue
1405 Elm Avenue
1405 Elm Avenue
1405 Elm Avenue
1405 Elm Avenue
1405 Elm Avenue
1405 Elm Avenue
1405 Elm Avenue
1405 Elm Avenue
1405 Elm Avenue
1405 Elm Avenue
1405 Elm Avenue
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$369,500

1405 Elm Avenue

3 Beds 3 Baths 1,344 Sq.Ft. 6,098.4 Sq.Ft.

Description

1405 Elm Ave - Triplex with Income Potential, Walkable to CMU! Rare triplex opportunity in a central Grand Junction location! This property features two 1-bedroom units and a studio, each with bright, single-level layouts. Unit A was recently updated with new flooring and a modern bathroom. Unit B is a well-equipped studio rental, and Unit C is an updated 1-bedroom unit. Current leases generate a total monthly rental income of $2,610 (A: $1,050, B: $685, C: $875). The property also includes off-street parking and a detached garage. Walkable to Colorado Mesa University, shopping, dining, and major roadways, this triplex offers strong rental demand and an estimated 7% cap rate--making it an ideal income-producing investment or owner-occupied opportunity.

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Location

1405 Elm Avenue, Grand Junction, CO 81501

Status

Sold
Michelle Ritter

Michelle Ritter

TITLE

Broker Associate

LICENSE

FA040010778

Property Amenities

Interior
Appliances Electric Oven, Electric Range, Microwave, Refrigerator
Flooring Carpet, Concrete, Linoleum
Total Bedrooms: 3
Other Interior Features None
Area & Lot
Total area 1,344 Sq.Ft.
Lot Area 6,098.4 Sq.Ft.
Living area 1,344 Sq.Ft.
MLS® ID 20254394
Year Built 1950
High School Grand Junction
Middle School West
Elementary School Orchard Avenue
Architecture Styles Ranch
Type Multi-Family
Status Sold
Exterior
Stories 1
Air conditioning Evaporative Cooling, Window Unit(s)
Heat type Forced Air, Natural Gas
Disability Features None
Water Source Public
Sewer Connected
Other Exterior Features Shed
Lot Features Landscaped
Roof Asphalt, Composition
Finance
Sales Price $369,500
Real Estate Tax $1,361 yearly

Grand Junction

Work With Michelle

A thoughtful, results-focused approach designed around each client’s unique goals. Every project is handled with clarity, attention to detail, and a collaborative process that ensures effective, well-aligned outcomes from start to finish.