For Sale 200 W 1700 S, Clearfield UT MLS® #1657525
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Hollie Christiansen

801-745-8400
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Brian Hassell

801.721.1677
  • MLS® #: 1657525
  • 200 W 1700 S

  • Clearfield, UT 84015
  • $2,250,000
  • 51 Beds, 20 Bath, 28700 SQ. Feet, 2.52 Acres
  • Multi-Unit
  • Agent: Cory Waddoups
  • Office: Investment Realty Advisors Llc

Spacious 2 & 3 bedroom 20 Unit apartment complex + excess land to build an additional 20 units (permitted density in R-3 zone is 16 units/acre (2.52 acres x 16 units acre = 40.32 units.) .No formal approvals in place for the additional 20 units. Rents on existing units are well below market with substantial upside. Current NOI $121,400 - 5.41% cap rate at $2.25M purchase price and a 6.7% cap rate at proforma NOI of $150,400. Proforma NOI is closer to 7.7% after backing out $300K for the excess land. Land Development Opportunity for additional returns. Buyer and buyer agent to verify all. Listing agent has a fractional ownership in this property. Do not disturb tenants, no showings without an accepted LOI or offer.

Essential Information

  • MLS® #1657525
  • Price$2,250,000
  • Bedrooms51
  • Bathrooms20.00
  • Square Footage28,700
  • Acres2.52
  • Year Built1944
  • TypeMulti-Unit
  • Sub-Type> 4 Units
  • Style2 - Story
  • StatusUnder Contract

Community Information

  • Address200 W 1700 S
  • AreaSyrcs; W Pnt; Clrfld; Clntn; S Hpr
  • CityClearfield
  • CountyDavis
  • StateUT
  • Zip Code84015

Amenities

  • AmenitiesLaundry: Hookups, Electric Dryer Hookup
  • UtilitiesSewer: Connected, Sewer: Public, Water: Connected, Gas: Connected, Power: Connected
  • FeaturesRange, Refrigerator
  • Parking Spaces60
  • GaragesParking: Uncovered

Interior

  • Interior FeaturesRange/Oven: Free Stdng.
  • HeatingForced Air, Gas: Central

Exterior

  • ExteriorCinder Block
  • Lot DescriptionSidewalks, Terrain: Flat, Fenced: Full, Road: Paved
  • WindowsBlinds
  • RoofMembrane
  • ConstructionBlt./Standing

School Information

  • DistrictDavis
  • ElementaryAntelope
  • MiddleNorth Davis
  • HighClearfield

Additional Information

  • Date ListedFebruary 28th, 2020
  • Days on Market36
  • ZoningMulti-Family

Property Location

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