2915 Orchard Avenue Building A And Building B,  Grand Junction CO, 81504

72 beds , 48 baths
42,000 sqft
Status: Pending
MLS#: 20175955
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Last Updated: 12/14/2017 11:27 PM
Description for 2915 Orchard Avenue Building A And Building B Grand Junction, CO 81504
48-unit multi-family asset, 24 two-bed and 24 one-bed. Bass Apartments located in Grand Junction, CO provides an opportunity for an investor to take advantage of a strong rental market with low vacancy and growing rents. Two buildings of an 8-building complex with excellent upside potential. With the projected year one Net Operating Income of $113,500 the offering Cap Rate is 10%. The cash on cash return for year one would be 19% before tax if 75% LTV was borrowed. These favorable numbers are offered due to deferred maintenance on the property and Land Use Restriction Agreement in place for 15 more years. See detailed offering memorandum in the listing documents for more information.
Price
$1,100,000
Other/Unknown
Mesa County
72
48
42,000 (approx)
20175955
Pending
Description
48-unit multi-family asset, 24 two-bed and 24 one-bed. Bass Apartments located in Grand Junction, CO provides an opportunity for an investor to take advantage of a strong rental market with low vacancy and growing rents. Two buildings of an 8-building complex with excellent upside potential. With the projected year one Net Operating Income of $113,500 the offering Cap Rate is 10%. The cash on cash return for year one would be 19% before tax if 75% LTV was borrowed. These favorable numbers are offered due to deferred maintenance on the property and Land Use Restriction Agreement in place for 15 more years. See detailed offering memorandum in the listing documents for more information.
Listing Information
Property Type: Apartment, Other
72 48
1.95 Acres 42,000 (approx) 1979
Wood Frame, Site Built
Other/Unknown
Slab
No Water, City
48 Total
Neighborhood
School Information
NISLEY BOOKCLIFF CENTRAL
Room Information
Interior Features
Dishwasher, Electric Range/Cooktop, Garbage Disposal, Range Hood, Refrigerator, None
Vinyl, Laminate, Carpet
None, Evaporative
Hot Water, Radiant, Baseboard
3
Exterior / Lot Features
Rubber
Pool
Above ground
1-1.99
PUD
Landscaped, Corner, City Road, Paved Road
Community Features
Community Pool
Driving Directions
East on Orchard Ave to 29 1/4 Rd. The brown sided apartment buildings A and B are located on the SW corner.
Financial Considerations
2943-083-11-005
Listing Price History

Grand Junction Real Estate

Grand Junction is located in Colorado. Grand Junction, Colorado 81504 has a population of 60,358.

The median household income in Grand Junction, Colorado 81504 is $44,887. The median household income for the surrounding county is $48,610 compared to the national median of $53,482. The median age of people living in Grand Junction 81504 is 35.5 years.

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Courtesy: JACKSON BERRY - RED COMPASS REALTY
Information is deemed reliable but is not guaranteed.

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