1405 Elm Ave Grand Junction, CO 81501
Downtown Grand Junction NeighborhoodEstimated payment $2,127/month
Highlights
- Ranch Style House
- Shed
- Forced Air Heating System
- Detached Garage
- Landscaped
- Evaporated cooling system
About This Home
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.
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
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/28/2025 09/28/25 | Pending | -- | -- | -- |
| 09/23/2025 09/23/25 | For Sale | $379,900 | 0.0% | $283 / Sq Ft |
| 09/17/2025 09/17/25 | Off Market | $379,900 | -- | -- |
| 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 |
| 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
MLS Number: 20254394
APN: 2945-123-00-016
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