Off Market

503 E 26 St, Ogden, UT 84401

$815,300

23 bed · 18 bath · 15,750 sqft

Ogden downtown area apartment complex with a zoning R-100. One 3-bedroom unit, three 2-bedroom units, Six 1-bedroom units and Eight studios. Two levels above the ground and a basement level, total 15750 sqft with each level 5250 sqft. Courtesy square footage, buyer is to verify or do independent measurement. Total Rent roll is $9310/Month. Rent includes water, sewer, trash and hot water; tenants pay electricity and heating. Separate power meters. All units were remodeled in 2010-2011. Basement includes one 2-bedroom apartment, a cemented storage room of about 400 sqft on the east side and another 800 sqft cemented storage room in the west side which has plumbing connection ready for improvement. There are two large areas with dirt ground in the basement currently used as storage. Coin-operated laundry is available in basement that produce enough for house power bills. Large positive cash flow. Cap rate is 8.50% is based on NOI of $69,300 per year with a 5% vacancy. The collected rent indicating a less than 3.75% vacancy. effectively built date 1960, the original built date 1899. Owner spent $125,000 capital spending in the last 4 years. Owner is a licensed real estate agent.

Photos (15)

Listing courtesy of Roland Zhang, Equity Real Estate - Professionals.

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