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Property description
8.5% Cap Rate - Cash Flow with Upside. See attached proforma - Ready to renovate with huge upside in both rents and future appreciation. Amazing location 2 blocks from restaurants, bars, and downtown Ogden as well as the Wonder Block development, 340+ mixed use multifamily and commercial development in historic downtown ogden. This property has been stripped and torn down to the studs and is ready to be finished and rented. Conditional approval has been given by the City of Ogden. Seller is willing to continue working with the buyer to finalize the construction permit which is already conditionally approved, retaining wall plans being drawn up by engineer for approval and that is all that remains. This historic Ogden apartment complex is situated perfectly to take advantage of the massive housing shortage. Each remodeled apartment complex in the area has a waiting list. Owner needs to cash out for a larger project out of state, bring all offers. Construction budgets and finished architectural and engineering plans will be provided upon request. This deal is ready to be finished and rented out. Cornerstone Property Mangement, one of the best in Utah is working on this project and ready to manage once completed, see their proforma in the listing attachments.
For more details:
Listed by: Samuel Newell
For more details:
Listed by: Samuel Newell