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.
Sold for $369,500
$369,500
1405 Elm Ave, Grand Junction, CO 81501
3beds
3baths
1,344sqft
Triplex, Multi Family, Multi Family
Built in 1950
-- sqft lot
$366,500 Zestimate®
$275/sqft
$1,977 Estimated rent
Home value
$366,500
$345,000 - $392,000
$1,977/mo
Zestimate® history
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List your homeWhat's special
Modern bathroomDetached garageNew flooringOff-street parkingBright single-level layouts
Zillow last checked:
Listing updated:
Listed by:
WALZ CARLISLE TEAM 970-248-8501,
RIVER CITY REAL ESTATE, LLC
Bought with:
MICHELLE RITTER
RE/MAX 4000, INC
Source: GJARA,MLS#: 20254394
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 3
Heating
- Forced Air, Natural Gas
Cooling
- Evaporative Cooling, Window Unit(s)
Appliances
- Included: Electric Oven, Electric Range, Microwave, Refrigerator
Features
- None
- Flooring: Carpet, Concrete, Linoleum
- Basement: Crawl Space
- Has fireplace: No
Interior area
- Total structure area: 1,344
- Total interior livable area: 1,344 sqft
Property
Accessibility
- Accessibility features: None
Features
- Levels: One
- Stories: 1
- Patio & porch: None
- Exterior features: Shed
Lot
- Size: 6,098 Square Feet
- Dimensions: 51' x 123'
- Features: Landscaped
Details
- Additional structures: Shed(s)
- Parcel number: 294512300016
- Zoning description: RH-16
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Ranch
- Property subtype: Triplex, Multi Family, Multi Family
- Attached to another structure: Yes
Materials
- Vinyl Siding, Wood Frame
- Foundation: Stem Wall
- Roof: Asphalt,Composition
Condition
- Year built: 1950
- Major remodel year: 2024
Utilities & green energy
- Sewer: Connected
- Water: Public
Community & HOA
Community
- Subdivision: Grand View Sub
HOA
- Has HOA: No
- Amenities included: None
- Services included: None
Location
- Region: Grand Junction
- Elevation: 4597
Financial & listing details
- Price per square foot: $275/sqft
- Tax assessed value: $283,140
- Annual tax amount: $1,360
- Date on market: 9/8/2025
- Road surface type: Paved
Price history
| Date | Event | Price |
|---|---|---|
| 10/29/2025 | Sold | $369,500-2.7%$275/sqft |
Source: GJARA #20254394 Report a problem | ||
| 9/29/2025 | Pending sale | $379,900$283/sqft |
Source: GJARA #20254394 Report a problem | ||
| 9/8/2025 | Listed for sale | $379,900+76.7%$283/sqft |
Source: GJARA #20254394 Report a problem | ||
| 10/8/2019 | Sold | $215,000-2.3%$160/sqft |
Source: GJARA #20192476 Report a problem | ||
| 7/17/2019 | Pending sale | $220,000$164/sqft |
Source: FORSTERS PROPERTY MANAGEMENT, LLC #20192476 Report a problem | ||
| 5/8/2019 | Listed for sale | $220,000-2.2%$164/sqft |
Source: FORSTERS PROPERTY MANAGEMENT, LLC #20192476 Report a problem | ||
| 12/15/2009 | Listing removed | $225,000$167/sqft |
Source: Real Estate West #631575 Report a problem | ||
| 11/9/2009 | Price change | $225,000-6.3%$167/sqft |
Source: Real Estate West #631575 Report a problem | ||
| 9/19/2009 | Listed for sale | $240,000-4%$179/sqft |
Source: Real Estate West #631575 Report a problem | ||
| 8/6/2009 | Listing removed | $250,000$186/sqft |
Source: Real Estate West #622357 Report a problem | ||
| 6/21/2009 | Price change | $250,000-5.7%$186/sqft |
Source: Real Estate West #622357 Report a problem | ||
| 4/4/2009 | Price change | $265,000+3.9%$197/sqft |
Source: iHOUSEWeb Solutions, Inc Report a problem | ||
| 3/30/2009 | Price change | $255,000-5.6%$190/sqft |
Source: iHOUSEWeb Solutions, Inc Report a problem | ||
| 8/14/2008 | Price change | $270,000-6.9%$201/sqft |
Source: iHOUSEWeb Solutions, Inc Report a problem | ||
| 6/6/2008 | Listed for sale | $290,000+88.3%$216/sqft |
Source: iHOUSEWeb Solutions, Inc Report a problem | ||
| 10/8/2004 | Sold | $154,000+180%$115/sqft |
Source: Public Record Report a problem | ||
| 2/11/2002 | Sold | $55,000$41/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,065 +0.6% | $19,960 +5.4% |
| 2024 | $1,058 +10.7% | $18,940 |
| 2023 | $956 -2.5% | $18,940 +42.8% |
| 2022 | $981 +47.9% | $13,260 -4.9% |
| 2021 | $663 | $13,950 +44.6% |
| 2020 | $663 -3.7% | $9,650 +9% |
| 2019 | $688 | $8,850 -9% |
| 2018 | $688 +33.5% | $9,730 |
| 2017 | $516 | $9,730 +18.4% |
| 2016 | $516 -1.3% | $8,220 |
| 2015 | $522 -7.5% | $8,220 -8.3% |
| 2014 | $565 | $8,960 |
| 2013 | -- | $8,960 -12.1% |
| 2012 | $607 | $10,190 |
| 2011 | -- | $10,190 -25.9% |
| 2010 | -- | $13,760 |
| 2009 | -- | $13,760 +17% |
| 2008 | $756 -7.6% | $11,760 |
| 2007 | $819 +22% | $11,760 +22.8% |
| 2006 | $671 -8.3% | $9,580 |
| 2005 | $732 +53.4% | $9,580 +43.6% |
| 2004 | $477 +4.8% | $6,670 +7.8% |
| 2003 | $455 +30.6% | $6,190 +23.3% |
| 2002 | $349 -15% | $5,019 -6% |
| 2001 | $410 | $5,340 |
Find assessor info on the county website
Neighborhood: 81501
Nearby homes
- $369,6003 bd1 ba1.7k sqft1355 Elm Ave, Grand Junction, CO 81501Off Market
- $--2 bd1 ba1.7k sqft1355 Elm Ave APT B, Grand Junction, CO 81501Off Market
- $--3 bd1 ba1k sqft1355 Elm Ave APT A, Grand Junction, CO 81501Off Market
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Nearby schools
GreatSchools rating
- 7/10Orchard Avenue Elementary SchoolGrades: PK-5Distance: 0.4 mi
- 5/10West Middle SchoolGrades: 6-8Distance: 1.3 mi
- 5/10Grand Junction High SchoolGrades: 9-12Distance: 0.8 mi
Schools provided by the listing agent
- Elementary: Orchard Avenue
- Middle: West
- High: Grand Junction
Source: GJARA. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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- Colorado
- Mesa County
- Grand Junction
- 81501
- 1405 Elm Ave
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