$2,200,000
$2,300,000
4.3%For more information regarding the value of a property, please contact us for a free consultation.
22 Beds
16 Baths
13,312 SqFt
SOLD DATE : 08/15/2022
Key Details
Sold Price $2,200,000
Property Type Multi-Family
Sub Type > 4 Units
Listing Status Sold
Purchase Type For Sale
Square Footage 13,312 sqft
Price per Sqft $165
MLS Listing ID 1793648
Sold Date 08/15/22
Style Stories: 2
Bedrooms 22
Construction Status Blt./Standing
HOA Y/N No
Year Built 1961
Annual Tax Amount $9,018
Lot Size 1.220 Acres
Acres 1.22
Lot Dimensions 0.0x0.0x0.0
Property Description
VALUE ADD OPPORTUNITY! Property has been self-managed at a 4.4% cap rate. Excellent opportunity to introduce professional management, remodel the units, increase rents, and improve the cap rate. 1-bed units have been renting for $685, though 2 1-bed units are being turned and should be rented at $725 - 750 within a week. 100% occupancy otherwise. The Canyon Apartments have been a trusted housing option in the Copperton area for decades. Located west of Mountain View Corridor, this property is excellently located to support the growing housing & employment market in the western part of Salt Lake County. This 15-unit apartment complex features 9 1-bedroom, 5 2-bedroom, and 1 3-bedroom apartment that includes a deck and 2-car garage. Property includes plenty of parking & 7 carports with usage based on seniority. Buyer/agent to verify all data, including but not limited to unit square footage sizes. Square footage figures are provided as a courtesy estimate only and were obtained from county records. Buyer is advised to obtain an independent measurement. Please do not disturb tenants. Call agents for showing details/appointments. Additional land (MLS 1794434, $400k, .31 acre) for sale adjacent to the property where the dumpster currently sits, which may allow expansion of the apartments (buyer to verify). See agent remarks for important notes & disclosures.
Location
State UT
County Salt Lake
Area Wj; Sj; Rvrton; Herriman; Bingh
Zoning Multi-Family, Commercial
Interior
Heating Electric
Equipment Storage Shed(s)
Fireplace false
Window Features Blinds
Exterior
Exterior Feature Deck; Covered
Garage Spaces 2.0
Carport Spaces 7
Utilities Available Sewer Connected, Sewer: Septic Tank
Waterfront No
View Y/N Yes
View Mountain(s), Valley
Present Use Residential
Topography Additional Land Available, Fenced: Part, Sidewalks, Sprinkler: Auto-Part, View: Mountain, View: Valley
Total Parking Spaces 9
Private Pool false
Building
Lot Description Additional Land Available, Fenced: Part, Sidewalks, Sprinkler: Auto-Part, View: Mountain, View: Valley
Faces South
Sewer Sewer: Connected, Septic Tank
New Construction No
Construction Status Blt./Standing
Schools
Elementary Schools None/Other
Middle Schools None/Other
High Schools None/Other
Others
Senior Community No
Tax ID 26-08-377-010
Acceptable Financing Cash, Commercial Fin. Req., Conventional
Horse Property No
Listing Terms Cash, Commercial Fin. Req., Conventional
Financing Conventional
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Bought with Exit Realty Plus, Inc
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