NOT LISTED FOR SALE

2915 Orchard Ave Unit Building A and Build Grand Junction, CO 81504

Northeast Grand Junction Neighborhood
72 Beds
48 Baths
42,000 Sq Ft
1.95 Acres

Last Sold February 07, 2018

Last sale price $1,200,000 $29 Per Sq Ft

Highlights

  • Above Ground Pool
  • Corner Lot
  • Landscaped
  • 1.95 Acre Lot
  • 2 Irrigated Acres
  • Baseboard Heating

About This Home

As of February 2018

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.

Last Agent to Sell the Property

Jackson Berry

RED COMPASS REALTY License #FA100017940 Listed on: 11/21/2017

Co-Listed By

Trevor Wickersham

RED COMPASS REALTY License #FA100054741

Last Buyer's Agent

Rachel Justman

CENTURY 21 CAPROCK REAL ESTATE License #FA100031318

CENTURY 21 CAPROCK REAL ESTATE

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $6,477

Year Built

  • 1979

Lot Details

  • 1.95 Acre Lot
  • Landscaped
  • Corner Lot

HOA Fees

  • $234 Monthly HOA Fees

Home Design

  • Slab Foundation
  • Wood Frame Construction
  • Shake Roof
  • Rubber Roof
  • Wood Siding

Kitchen

  • Electric Oven or Range
  • Range Hood
  • Dishwasher
  • Disposal

Flooring

  • Carpet
  • Laminate
  • Vinyl

Bedrooms and Bathrooms

  • 72 Bedrooms
  • 48 Bathrooms

Utilities

  • Evaporated cooling system
  • Baseboard Heating
  • Hot Water Heating System

Additional Features

  • 3-Story Property
  • Above Ground Pool
  • 2 Irrigated Acres

Listing and Financial Details

  • Seller Concessions Offered

Community Details

Overview

  • 42,000 Sq Ft Building

Amenities

  • Laundry Facilities

Recreation

  • Community Pool

Property Details

Home Type

Apartment

Est. Annual Taxes

$6,477

Year Built

1979

Lot Details

0

HOA Fees

$234 per month

Listing Details

  • Estimated Irrigation Acres: 1.95
  • Construction: Wood Frame
  • Current Use: Residential
  • Elevation: 4660
  • Exterior Features: Pool-Above Ground
  • Gas Company: Xcel
  • Heating Type: Baseboard, Hot Water
  • How Built: Site Built
  • Irrig District: Grand Valley Irrig
  • Irrig Water: Yes
  • Lot Dimensions: irregular
  • Lvt Date: 11/22/2017
  • Property Type: Multi-Family
  • Real Estate Incl: Yes
  • Sewer: Sewer Installed
  • Sewer Company: City Of Gj
  • Street Desc Access: City/Town, Paved
  • Style: 3+ Story
  • Taxes: 6477
  • Tax Year: 2016
  • Total Acres: 1.95
  • Type: Apartments
  • Water: City Water
  • Zoning: PUD
  • Total Building Sq Ft: 42000
  • Design: Two Buildings
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 3
  • Year Built: 1979

Interior Features

  • Total Number Bedrooms: 72
  • Appliances: Dishwasher-All, Electric Range/Oven-All, Garbage Disposal-All, Range Hood-All, Refrigerator-All
  • Basement Foundation: Slab
  • Floor: Carpet, Laminate, Vinyl
  • Bathrooms: 48
  • Price Per Sq Ft: 28.57
  • Fireplaces: Fireplace(s)-None

Exterior Features

  • Landscaping: Landscape All
  • Exterior Siding: Wood
  • Roof: Cedar Shake, Rubber

Utilities

  • Cooling Type: Evaporative Cooler
  • Electric Company: Xcel
  • Water Company: Ute
  • Laundry: Laundry Available On Site

Condo/Co-op/Association

  • Association Amenities: Pool

Schools

  • Elementary School: Nisley
  • Middle School: Bookcliff
  • High School: Central

Lot Info

  • Lot Description: Corner
  • Lot Size: D: 1-1.99

Range of Values:

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List Price
Sold Price
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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 Change Sq Ft Price
02/07/2018 02/07/18 Sold $1,200,000 +9.1% $29 / Sq Ft
12/01/2017 12/01/17 Pending -- -- --
11/21/2017 11/21/17 For Sale $1,100,000 -- $26 / Sq Ft
Source: Grand Junction Area REALTOR® Association

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Jackson Berry

    Seller's Agent in 2018

    Jackson Berry

    RED COMPASS REALTY

    (970) 261-9136

    3 in this area

    39 Total Sales

    Jackson Berry
    Section Image

  • T

    Seller Co-Listing Agent in 2018

    Trevor Wickersham

    RED COMPASS REALTY

    (970) 244-0805

    1 in this area

    23 Total Sales

    Trevor Wickersham
    Section Image
  • Rachel Justman

    Buyer's Agent in 2018

    Rachel Justman

    CENTURY 21 CAPROCK REAL ESTATE

    (970) 615-0201

    9 in this area

    88 Total Sales

    Rachel Justman
    Section Image
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Map

Source: Grand Junction Area REALTOR® Association

MLS Number: 20175955

Grand Junction Area REALTOR® Association
Colorado Mesa County Grand Junction 81504 Northeast Grand Junction

2915 Orchard Ave Unit Building A and Build, Grand Junction, CO

This home is located at 2915 Orchard Ave Unit Building A and Build, Grand Junction, CO 81504 since 21 November 2017. This property was built in 1979. 2915 Orchard Ave Unit Building A and Build is a home located in Mesa County with nearby schools including Nisley Elementary School, Bookcliff Middle School, and Central High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Grand Junction Area REALTOR® Association IDX information is provided exclusively for 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 is deemed reliable but not guaranteed.

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