Garden Apartments 260 W 1700 S 27 Unit Apartment Building $5,411,086 CAD ($200,411 CAD/Unit) 6.99% Cap Rate Clearfield, UT 84015
EXECUTIVE SUMMARY
Introducing Garden Apartments and Storage in rapidly growing Clearfield UT. This mixed use property is situated on 1.88 acres and features 27 apartment units as well as 45 storage units that are rented separately for additional income. With a diverse unit mix, and the close proximity to the Hill Airforce Base this property is easy to rent. 6.5%+ CAP Rate Potential (Broker Proforma), this property is well positioned for any investor looking to add a stable property to their portfolio.
PROPERTY FACTS
| Price | $5,411,086 CAD |
| Price Per Unit | $200,411 CAD |
| Sale Type | Investment |
| Cap Rate | 6.99% |
| No. Units | 27 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 1.88 AC |
| Building Size | 18,083 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built/Renovated | 1945/2020 |
| Parking Ratio | 1.49/1,000 SF |
UNIT AMENITIES
- Heating
- Kitchen
- Tub/Shower
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 17 | - | 316 |
| 1+1 | 5 | - | 480 |
| 3+1 | 1 | - | 500 |
| 4+2 | 1 | - | 1,600 |
| 2+1 | 3 | - | 833 |
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PROPERTY TAXES
| Parcel Number | 12-065-0156 | Improvements Assessment | $2,013,613 CAD |
| Land Assessment | $1,069,676 CAD | Total Assessment | $3,083,289 CAD |
ZONING
| Zoning Code | R-2 |
