This prime new to be built 40-unit apartment complex sits on a 1 acre lot less than one block west of washington blvd in the heart of ogden. Ogden is one of the hottest cities in america. The purchase will come with a fully constructed 35,748 total sq ft which consists of 16 2bd/1bth and 24 1bd/1bth. The site will be landscaped and developed, yielding 60 parking stalls. The noi is projected to be $428,218 which is provides a robust 6. 36% cap. This list price requires that the buyer finance the construction. If seller finances construction and development costs, the price will be ****$7,136,960****. Square footage figures are provided as a courtesy estimate only and were obtained from plans. Buyer is advised to obtain an independent measurement.
The vacancy rate of homes in 84401 is
9.87% with 50.46% of homes being owner-occupied. The median household income in 84401 is $42941 per year with those between 45 and 64 having the highest median income at $55263.