Grand Mesa Apartments

Grand Mesa Apartments

1535 Poplar Dr.
Grand Junction, CO, 81505
$3,515,000
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    Property Features

    Price: $3,515,000
    Total SF: 21,804 SF
    Year Built: 1982
    Units Available: 24

    Property Description

    • Located in Grand Junction Colorado the Grand Mesa Apartments comprise 24 2-bedroom/1-bath units of approximately 860 square feet.​  Residents like the spacious living area, bigger bedrooms and open dining/living areas offered.​ The kitchens have new matching black GE appliances with natural hickory cabinets.​  There are ceiling fans and thermostats in every room.​  And lots of storage  including a big walk-in closet off the living room.​ Plus new energy-efficient windows and screens.​    Floors, doors and window coverings all done too.​  And all new plumbing lines, valves and fixtures means less maintenance hassles for residents and managers.​  Choose from Spectrum, Adaptive Internet or CenturyLink for your hi-speed.​ The air-conditioned on-site laundry facility offers newer Maytag APP-PAY machines.​  Outside is fresh paint, trim, awnings and signage with upgraded lighting and a 10-camera cloud-based surveillance system.​Rare opportunity to acquire a well located all 2-bed unit building.​ The market fundamentals are exceptional as the property is central to strong employment, transportation, shopping, CMU, parks, hospitals, restaurants, Main Street and outdoor activities.​  Plus, Mesa County has a solid jobs market with strong consumer demand.​  Vacancy in this Western Slope market hovers between 2% – 3%.​ fueling the unprecedented rent growth here.​  Rents have increased multiple times just since July of 2020.​  Tenancy demographics include a high percentage of CMU students with parents happy to co-sign for them.​  And moms like the well-lit property and parking areas with restricted access to the hallway entries.​  The property consistently pulls 100% collections (through online tenant pay portals)- and usually by the 5th or 6th of the month.​   Property operations also derive significant additional income with new pet fees, pet rents, and other recurring income items.​

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