Description
Located in North Delta along a pleasant road bordered by agricultural land, this 2.4-acre multifamily property offers both current income and significant upside potential. The setting provides a peaceful rural feel while maintaining convenient access to the surrounding Delta area, making it well-suited for continued rental use, expansion, or conversion into a private residence with income-producing opportunities. Unit #2, the upstairs three-bedroom unit, has been completely renovated and is now available to rent at $1,500 per month. The remaining three units are currently rented, providing existing income, while future remodels could substantially increase rental rates and overall property value. With ample acreage and flexible use potential, this property presents an appealing opportunity for investors seeking a value-add rental asset or buyers looking for a spacious property with income potential. The three downstairs units each include fenced areas, offering added convenience for tenants with a furry companion, dogs only. Irrigation water is also available through 2 1/2 shares of the North Delta Ditch Company, and the gated pipe system provides water for planting, gardening, landscaping, or other agricultural uses across the property. Priced at an 8% CAP rate and only $109 per square foot, this property represents an attractive investment opportunity with current income, value-add potential, and room for future growth.
Details
| MLS # | 837164 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1975 |
| Days On Site | 40 |
| Listing Provided By | Grand Mesa Real Estate Services | Lucinda Stanley |
Features
| Bath(s) | 4 Total |
|---|---|
| SQ Feet | 4,898 |
| Garage | 1 |
| Story(s) | 2 |
| Units | 4 |
| Zoning | Residential |
| Acreage | 2.40 |
Interior
| Cooling Yes / No | Yes |
|---|---|
| Cooling | Window Units |
| Heating Yes / No | Yes |
| Heating | Baseboard, Electric, Forced Air |
| Interior Features | Wired For Data |
| Furnished | Unfurnished |
| Appliances | Oven, Range, Refrigerator |
Exterior
| Exterior Features | Fence |
|---|---|
| Roof | Metal |
| Construction Materials | Wood Siding |
| Foundation Details | Slab |
| Lot Features | Corners Marked |
Parking
| Garage Yes / No | Yes |
|---|---|
| Attached Garage Yes / No | Yes |
| Parking Features | Attached, Garage |
Other
| List Aor | Montrose Association Of Realtors |
|---|
Taxes
| Property | 2342 |
|---|
Area Information
| State | CO |
|---|---|
| County | Delta |
| City | Delta |
| Zip Code | 81416 |
| Area | Delta |
| Community Name | JCS Minor |
| School District | Open Enrollment |
| Elementary School | Open Enrollment |
| High School | Open Enrollment |
| Listing VS Median (in JCS Minor) | |
Price: $535,000 low | high Med: $535,000 sqft: 4,898 low | high Med: 4,898 $ / sqft: $109 low | high Med: $109 On site: 40 low | high Med: 40 | |
Market Activity 81416
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Learn More About This Property
| State | CO |
|---|---|
| County | Delta |
| City | Delta |
| Zip Code | 81416 |
| Area | Delta |
| Community Name | JCS Minor |
| School District | Open Enrollment |
| Elementary School | Open Enrollment |
| High School | Open Enrollment |
| Listing VS Median (in JCS Minor) | |
Price: $535,000 low | high Med: $535,000 sqft: 4,898 low | high Med: 4,898 $ / sqft: $109 low | high Med: $109 On site: 40 low | high Med: 40 | |