Description
VALUE ADD OPPORTUNITY! Property has been self-managed at a 4.4% cap rate. Excellent opportunity to introduce professional management, remodel the units, increase rents, and improve the cap rate. 1-bed units have been renting for $685, though 2 1-bed units are being turned and should be rented at $725 - 750 within a week. 100% occupancy otherwise. The Canyon Apartments have been a trusted housing option in the Copperton area for decades. Located west of Mountain View Corridor, this property is excellently located to support the growing housing & employment market in the western part of Salt Lake County. This 15-unit apartment complex features 9 1-bedroom, 5 2-bedroom, and 1 3-bedroom apartment that includes a deck and 2-car garage. Property includes plenty of parking & 7 carports with usage based on seniority. Buyer/agent to verify all data, including but not limited to unit square footage sizes. Square footage figures are provided as a courtesy estimate only and were obtained from county records. Buyer is advised to obtain an independent measurement. Please do not disturb tenants. Call agents for showing details/appointments. Additional land (MLS 1794434, $400k, .31 acre) for sale adjacent to the property where the dumpster currently sits, which may allow expansion of the apartments (buyer to verify). See agent remarks for important notes & disclosures.
-
22BEDS
-
1.22ACRES
-
0BATHS
-
01/2 BATHS
-
13,312SQFT
-
$173$/SQFT
School Ratings & Info
Description
VALUE ADD OPPORTUNITY! Property has been self-managed at a 4.4% cap rate. Excellent opportunity to introduce professional management, remodel the units, increase rents, and improve the cap rate. 1-bed units have been renting for $685, though 2 1-bed units are being turned and should be rented at $725 - 750 within a week. 100% occupancy otherwise. The Canyon Apartments have been a trusted housing option in the Copperton area for decades. Located west of Mountain View Corridor, this property is excellently located to support the growing housing & employment market in the western part of Salt Lake County. This 15-unit apartment complex features 9 1-bedroom, 5 2-bedroom, and 1 3-bedroom apartment that includes a deck and 2-car garage. Property includes plenty of parking & 7 carports with usage based on seniority. Buyer/agent to verify all data, including but not limited to unit square footage sizes. Square footage figures are provided as a courtesy estimate only and were obtained from county records. Buyer is advised to obtain an independent measurement. Please do not disturb tenants. Call agents for showing details/appointments. Additional land (MLS 1794434, $400k, .31 acre) for sale adjacent to the property where the dumpster currently sits, which may allow expansion of the apartments (buyer to verify). See agent remarks for important notes & disclosures.
Based on information from the Wasatch Front Regional Multiple Listing Service, Inc. as of 2022-05-28T04:57:21.723. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or the MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed accurate. Buyer to verify all information.