1123 W 2100 S
Ogden, UT 84401
Big Z Apartments · Multifamily Property For Sale · 34 Units

The Big Z Apartment is a unique property situated just east of the I-15 freeway and 2100 S in Ogden. The property features 34 units comprised of 29 Studios and 5 1BDs, a former restaurant space of 7,151 SF and 3 office trailers totaling 2,400 SF. 23 of the 34 units have been renovated with new flooring, cabinets, kitchenettes, counter-tops and updated bathrooms. Even though the units have been renovated, there is the ability to raise rents, as the studios are roughly $75 below market. All of the retail and office space it is being leased by the seller's partner per a verbal agreement. However, because of the sale, a written lease will be put into place for all the retail and office space. This situation presents an opportunity for the buyer to negotiate a lease that would be most favorable for them. The seller's partner has already agreed to lease all the retail space at $.43/SF, but that is negotiable. At $.43/SF, that would be an annual income of $49,283 from the retail and office leases and bring the total potential income to $283,403. The property also features a newer roof with solar panels that will transfer with the sale as well as an onsite laundry room. The property is on a large lot and with the vacant lot to the south, it is almost 3 acres that could be redeveloped. The property appraised for 2.89 M in November 2018 before the office trailers were added. The seller is open to financing the property through a seller carry. That is negotiable as well but he is willing to finance the majority of the sales price. Call for details. Call for details 801-303-5402