$369,500
SOLD OCT 29, 2025

1405 Elm Ave Grand Junction, CO 81501

Downtown Grand Junction Neighborhood
3 Beds
3 Baths
1,344 Sq Ft
6,098 Sq Ft Lot

Recently Sold

$275 Per Sq Ft

3% Below List Price

20 Days on Market

Highlights

  • Ranch Style House
  • Shed
  • Forced Air Heating System
  • Detached Garage
  • Landscaped
  • Evaporated cooling system

About This Home

As of October 2025

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.

Last Agent to Sell the Property

The Walz Carlisle Team

RIVER CITY REAL ESTATE, LLC Listed on: 09/08/2025

Last Buyer's Agent

Michelle Ritter

RE/MAX 4000, INC License #FA40010778

RE/MAX 4000, INC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,361

Year Built

  • Built in 1950

Lot Details

  • 6,098 Sq Ft Lot
  • Lot Dimensions are 51'x123'
  • Landscaped

Parking

  • Detached Garage

Home Design

  • Triplex
  • Ranch Style House
  • Stem Wall Foundation
  • Wood Frame Construction
  • Asphalt Roof
  • Vinyl Siding

Flooring

  • Carpet
  • Linoleum
  • Concrete

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Schools

  • Orchard Avenue Elementary School
  • West Middle School
  • Grand Junction High School

Utilities

  • Evaporated cooling system
  • Window Unit Cooling System
  • Forced Air Heating System
  • Separate Meters
  • Separate Water Meter

Additional Features

  • Microwave
  • Crawl Space
  • Shed

Community Details

  • 3 Units
  • 1,344 Sq Ft Building
  • Grand View Sub Subdivision

Listing and Financial Details

  • Assessor Parcel Number 2945-123-00-016

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,361

Year Built

Built in 1950

Lot Details

0

Listing Details

  • Construction: Wood Frame
  • Current Use: Residential
  • Elevation: 4597
  • Exterior Features: Shed
  • Gas Company: Xcel
  • Heating Type: Forced Air, Natural Gas
  • How Built: Site Built
  • Lot Dimensions: 51'x123'
  • Lvt Date: 09/08/2025
  • Property Type: Multi-Family
  • Real Estate Incl: Yes
  • Sewer: Sewer Installed
  • Sewer Company: City Of Gj
  • Street Desc Access: City/Town, Paved
  • Style: Ranch
  • Taxes: 1360.63
  • Tax Year: 2025
  • Total Acres: 0.14
  • Type: Triplex
  • Water: City Water
  • Zoning: RH-16
  • Total Building Sq Ft: 1344
  • Display On Internet: Yes
  • Design: One Building
  • Separate Electric Meters: Yes
  • Separate Gas Meters: Yes
  • Separate Water Meters: Yes
  • Garage Type: Detached
  • Garage Type: Detached
  • Garage Type: Detached
  • Year Built: 1950
  • Directions: From 12th & North Avenue, head north on 12th Street to Elm, east on Elm Avenue to 1405.
  • Subdivision Name: Grand View Sub
  • Estimated Year Remodeled: 2024
  • Special Features: NewHome
  • Property Sub Type: MultiFamily
  • Year Renovated: 2024

Interior Features

  • Total Number Bedrooms: 3
  • Appliances: Electric Range/Oven-Some, Microwave-All, Refrigerator-All
  • Basement Foundation: Crawl Space, Stem Wall
  • Floor: Carpet, Concrete, Linoleum
  • Bathrooms: 3
  • Fireplaces: Fireplace(s)-None

Exterior Features

  • Landscaping: Landscaped Front
  • Exterior Siding: Vinyl
  • Roof: Asphalt Composition

Utilities

  • Cooling Type: Evaporative Cooler, Window Unit(s)
  • Electric Company: Xcel
  • Water Company: City of GJ
  • Laundry: W/D Hookups In Some Units

Schools

  • Elementary School: Orchard Avenue
  • High School: Grand Junction

Lot Info

  • Lot Description: 0' - 75' Frontage
  • Lot Size: A: 0-0.24
  • Parcel Number: 2945-123-00-016
  • Geo Subdivision: CO

Multi Family

  • Total Number Units: 3

MLS Schools

  • Middle School: West

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
10/29/2025 10/29/25 Sold $369,500 -2.7% $275 / Sq Ft
09/28/2025 09/28/25 Pending -- -- --
09/23/2025 09/23/25 For Sale $379,900 +2.8% $283 / Sq Ft
09/17/2025 09/17/25 Off Market $369,500 -- --
09/08/2025 09/08/25 For Sale $379,900 +76.7% $283 / Sq Ft
10/08/2019 10/08/19 Sold $215,000 -2.3% $160 / Sq Ft View Prior Sale
07/15/2019 07/15/19 Pending -- -- --
05/05/2019 05/05/19 For Sale $220,000 -- $164 / Sq Ft
Source: Grand Junction Area REALTOR® Association

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • The Walz Carlisle Team

    Seller's Agent in 2025

    The Walz Carlisle Team

    RIVER CITY REAL ESTATE, LLC

    (970) 248-8501

    62 in this area

    425 Total Sales

    The Walz Carlisle Team
    Section Image
  • Michelle Ritter

    Buyer's Agent in 2025

    Michelle Ritter

    RE/MAX

    (800) 777-4573

    13 in this area

    122 Total Sales

    Michelle Ritter
    Section Image

  • S

    Seller's Agent in 2019

    Saul Forster

    FORSTERS PROPERTY MANAGEMENT, LLC

    Section Image
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Map

Source: Grand Junction Area REALTOR® Association

MLS Number: 20254394

Grand Junction Area REALTOR® Association

APN: 2945-123-00-016

Colorado Mesa County Grand Junction 81501 Downtown Grand Junction

1405 Elm Ave, Grand Junction, CO

Sold

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