Off Market

3455 S Brinker Ave, Ogden, UT 84403

$850,000

21 bed · 16 bath · 14,160 sqft

Total square footage figures are provided as a courtesy estimate only and were obtained from previous listing MLS #1165756. From Weber county assessor office, the total square footage is estimated to be 10186. Buyer is advised to obtain an independent measurement. The listing price reflects cap 8.5. the property generates a steady stream of cash flow. The operating statement is attached. at a price of $850K, the 2015 operating statement leads to a cap rate of 6.05, the 2016 operating statement leads to a cap rate of 6.59. The first half 2017 operating statement leads a cap rate of 7.07. The July-Oct 2017 operating statement leads to a cap rate of 7.68. The 2018 proforma leads to a cap rate of 8.57. This is a premium location, only a few blocks from Weber State University. Right on the Harrison BLVD commercial Corridor. Shadow Valley Elementary is assigned, score 8 out of 10 by greatschools! The best school in South Ogden area. The school bus picks up at the closest intersection. A lot of tenants come and stay for Shadow Valley Elementary. Very solid tenants. 9 tenants have jobs and two on section 8. The criteria for lease here: income over 2.75 times of the rent and no drug related history. There is a combination of architectural and building styles. A row of five townhouse-styled units were added in 1960. Owner pays water, sewer, dumpster. Majority of the units are individually metered for power and gas. some units have joint meters, either the utility is included in rent or paid by tenants to the landlord. Major capital spending has been made during the current ownership, total $113,400. The main sewer lateral was replaced in 2014 with a street excavation permit to connect to the city sewer on Van Buren. A second sewer lateral was discovered in 2015 and was replaced. Two furnaces and five water heaters were replaced. The roof on Unit 11 were replaced in 2014. 12 new windows in last four years. A new coin-op laundry. New flooring in almost every unit. Fresh paint during every turnover.

Photos (33)

Listing courtesy of Roland Zhang, Equity Real Estate (Solid).

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