1231 N 23rd St - Apartments FOR SALE


Grand Junction, CO 81501
$1,800,000 USD
970-615-0201
1231 N 23rd St, Grand Junction, CO for Sale
$1,800,000 USD
Apartments - FOR SALE
1/8
null | 7.63% Cap Rate

1231 N 23rd St
Grand Junction, CO 81501


HIGHLIGHTS

  • Every detail, from floor to ceiling, is BRAND NEW—aside from the timeless building shell
  • Ideally located close to Colorado Mesa University, offers a vibrant community feel with easy access to nearby amenities.
  • Backed by a 12-month builder warranty, providing peace of mind and quality assurance

OVERVIEW

100% OCCUPIED! This recently renovated 14-unit apartment complex is an excellent investment opportunity, featuring 14 brand-new studio apartments. Formerly an office complex, the building has been fully converted into high-quality residential units designed for modern, comfortable living. Each unit is currently leased at $1,100 per month, with tenants responsible for their own electricity. Projected to perform at a 7 CAP. The building is highly energy-efficient, with most systems powered by electricity, including brand-new mini-split HVAC systems installed throughout each unit. Solar panels help offset overall energy costs, making it even more efficient. A shared laundry room is available for tenant convenience, and the low-maintenance exterior ensures easy upkeep. The property also comes with a one-year warranty on all recent construction, offering added peace of mind for new ownership. This turn-key complex presents an ideal opportunity for investors seeking a modern, energy-efficient property with stable rental income. Call today to schedule a showing! Terms deemed reliable but not guaranteed, terms subject to change without notice.

FOR SALE DETAILS

PRICE

$1,800,000 USD

PRICE/SF

$325 USD /SF

# OF UNITS

14

PRICE/UNIT

$128,571

CAP RATE

7.63%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

14 Unit Apartment Building

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1977

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

7,000 SF

ZONING

MU-2

APN/PARCEL ID

2945-124-26-004

ASK ABOUT THIS PROPERTY

Rachel JustmanCentury 21 CapRock Real Estate, LLCMore Info
970-615-0201

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Rachel JustmanCentury 21 CapRock Real Estate, LLCMore Info
970-615-0201

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.