600 N 22nd St
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600 N 22nd St
12 Unit Block of Flats £1,113,588 (£92,799/Unit) 8.10% Net Initial Yield Grand Junction, CO 81501
Investment Highlights
- Seller is offering attractive seller financing options.
- Conveniently located 0.5 miles from the VA and 1 mile from Colorado Mesa University and Downtown Grand Junction.
- Significant value-add opportunity through unit turns and cosmetic renovations.
- Prime corner lot in an opportunity zone with excellent potential for future development.
- Spacious 2 BR / 1 BA units with ample off-street parking and storage space.
- Recent upgrades include a new roof.
Executive Summary
MMG is please to present 600 N 22nd St, a 12 unit multifamily property located in Grand Junction, CO.
» Seller is offering attractive seller financing options.
» Prime corner lot in an opportunity zone with excellent potential for future development.
» Conveniently located 0.5 miles from the VA and 1 mile from Colorado Mesa University and Downtown Grand Junction.
» Spacious 2 BR / 1 BA units with ample off-street parking and storage space.
» Significant value-add opportunity through unit turns and cosmetic renovations.
» Recent upgrades include a new roof.
» Seller is offering attractive seller financing options.
» Prime corner lot in an opportunity zone with excellent potential for future development.
» Conveniently located 0.5 miles from the VA and 1 mile from Colorado Mesa University and Downtown Grand Junction.
» Spacious 2 BR / 1 BA units with ample off-street parking and storage space.
» Significant value-add opportunity through unit turns and cosmetic renovations.
» Recent upgrades include a new roof.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £1,113,588 | Apartment Style | Garden |
| Price Per Unit | £92,799 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.14 AC |
| Net Initial Yield | 8.10% | Building Size | 7,200 SF |
| No. Units | 12 | Number of Floors | 1 |
| Property Type | Residential | Year Built | 1941 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | £1,113,588 |
| Price Per Unit | £92,799 |
| Sale Type | Investment |
| Net Initial Yield | 8.10% |
| No. Units | 12 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.14 AC |
| Building Size | 7,200 SF |
| Number of Floors | 1 |
| Year Built | 1941 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 12 | £536.91 | 600 |
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Bike Score ®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 2945-131-16-004 | Improvements Assessment | £48,067 (2023) |
| Land Assessment | £8,614 (2023) | Total Assessment | £56,682 (2023) |
PROPERTY TAXES
Parcel Number
2945-131-16-004
Land Assessment
£8,614 (2023)
Improvements Assessment
£48,067 (2023)
Total Assessment
£56,682 (2023)
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600 N 22nd St
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