2465 Monroe Blvd - Apartments FOR SALE


Ogden, UT 84401- East Central Ogden
$2,100,000 USD
801-303-5402
2465 Monroe Blvd, Ogden, UT for Sale
$2,100,000 USD
Apartments - FOR SALE
1/16
null | 5.61% Cap Rate

2465 Monroe Blvd
Ogden, UT 84401
East Central Ogden


HIGHLIGHTS

  • Government Housing with Guaranteed Rents
  • 20-Year Contract with 15 Years Remaining
  • New Wiring and Electrical Panels
  • New Roof
  • Value Add: Taking Rents to Market
  • Historic Property with Tax Incentives

OVERVIEW

Fontanelle Apartments is a 10-unit historic multifamily asset located at 2465 Monroe Boulevard in Ogden, Utah. Built in 1924 and listed on the U.S. National Register of Historic Places, the property is a three-story building constructed in the Spanish Colonial Revival and Prairie School architectural styles. The property consists of four oversized one-bedroom units and six three-bedroom units. The four one-bedroom units are garden-level, partially above grade. The six three-bedroom units are spread two per floor across the upper levels. A drop-down basement below the concrete deck at the rear of the property houses shared laundry, mechanical systems including the furnace and hot water heater, and additional tenant storage. There is also exterior space at the rear of the site with value-add potential for carport construction. The seller has completed significant capital improvements including a new roof, full electrical rewiring with updated panels, and complete replumbing throughout the building, substantially reducing near-term capex exposure for an incoming buyer.

FOR SALE DETAILS

PRICE

$2,100,000 USD

PRICE/SF

$185 USD /SF

# OF UNITS

10

PRICE/UNIT

$210,000

CAP RATE

5.61%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Fontanelle Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1924

PARKING SPACES

13

LAND DETAILS

LAND ACRES

0.31 AC

LAND SF

13,504 SF

ZONING

-

APN/PARCEL ID

01-058-0049

ASK ABOUT THIS PROPERTY

801-303-5402

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801-303-5402

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