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193 W 700 N 23 Unit Apartment Building $5,832,000 ($253,565/Unit) 4.90% Cap Rate Logan, UT 84321
INVESTMENT HIGHLIGHTS
- Some of the largest units in Logan.
- The bonus room of the loft is an extra feature.
- Little turnover makes this more of a neighborhood.
EXECUTIVE SUMMARY
Welcome to Willow Creek Cove. Twenty-three units in a great Logan location. There are six buildings. Four of the buildings are four plexes with three bedroom and 2 bath units that are 1700 square feet. One building has four units 1400 SQF and one building has three units 1400 SQF. We have not allowed roommates, but mostly have families, retirees and professional singles. There is little turnover with the average tenancy currently being 3.8 years.
As tenants move out we have been replacing the flooring with new carpet and LVT, new sinks and faucets and granite countertops. Currently,14 of the units have been switched over.
A 2023 appraisal listed one fourplex at 1.1 mil.
As tenants move out we have been replacing the flooring with new carpet and LVT, new sinks and faucets and granite countertops. Currently,14 of the units have been switched over.
A 2023 appraisal listed one fourplex at 1.1 mil.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $5,832,000 | Apartment Style | Townhome |
| Price Per Unit | $253,565 | Building Class | C |
| Sale Type | Investment | Lot Size | 2.16 AC |
| Cap Rate | 4.90% | Building Size | 59,793 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 23 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1991/2023 |
| Property Subtype | Apartment |
| Price | $5,832,000 |
| Price Per Unit | $253,565 |
| Sale Type | Investment |
| Cap Rate | 4.90% |
| Sale Condition | 1031 Exchange |
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 2.16 AC |
| Building Size | 59,793 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1991/2023 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 7 | $8,325 | 9,800 |
| 3+2 | 16 | $2,500 | 27,200 |
1 1
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $4,311,960 (2025) | |
| Land Assessment | $892,500 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $3,419,460 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$892,500 (2025)
Improvements Assessment
$3,419,460 (2025)
Total Assessment
$4,311,960 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
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Presented by
Worthen Property Management
193 W 700 N
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