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2600 S 7200 W
Magna, UT 84044
COLONY FARMS IN MAGNA, UT. 20-PLEX · Multifamily Property For Sale
·
20 Units
PROPERTY FACTS
| No. Units | 20 | Construction Status | Abandoned |
| Property Type | Multifamily | Building Size | 6,600 SF |
| Property Subtype | Apartment | Average Occupancy | 97% |
| Apartment Style | Townhome | No. Stories | 3 |
| Building Class | C | Parking Ratio | 0.61/1,000 SF |
| Lot Size | 42.30 AC | ||
| Zoning | Multi-Family | ||
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 42.30 AC |
| Construction Status | Abandoned |
| Building Size | 6,600 SF |
| Average Occupancy | 97% |
| No. Stories | 3 |
| Parking Ratio | 0.61/1,000 SF |
| Zoning | Multi-Family |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Granite Countertops
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Carpet
- Family Room
- Framed Mirrors
- Island Kitchen
- Vinyl Flooring
SITE AMENITIES
- Clubhouse
- Fitness Center
- Picnic Area
- Playground
- Pool
- Security System
- Pet Play Area
- Storage Space
ABOUT 2600 S 7200 W , MAGNA, UT 84044
Colony Farms is located in the "Northwest Quadrant" sector of Salt Lake County on the very East side of the city of Magna, UT. Multifamily in Salt Lake County realized rent growth of 5.8% over the last year, in part due to the increase in population from immigration sparked by strong job growth. Many renters are coming to Salt Lake from other major markets where rental rates are much higher. Multi-units in Salt Lake County are a bargain compared to other markets and these renters are helping to raise the bar on pricing expectations. Increasing migration to Utah fueled by consistent job growth will continue to keep vacancy rates across the Salt Lake valley at industry-standard levels. Colony Farms site will be located by major employment such as Amazon.com, UPS, Post Consumer Brands, The Salt Lake City International Airport, and a major "in the works project" The Inland Port. In addition, Ivory homes, one of Utah's largest residential builder, will be building 500-600 new single family homes within the next 1-5 years. The Ivory homes Magna project is attached just west of the Colony Farms site. With Magna's low vacancy rates from needed rentals, along with current and new employment within that area is what makes Colony Farms a great investment opportunity. Within the next 5-10 years we anticipate to see a revamping within that Northwest quadrant that will consist of both new and old coming in.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 16 | $1,023 | - |
| 2+2 | 4 | $1,223 | - |
PROPERTY TAXES
| Parcel Number | 14-21-426-014-0000 | Improvements Assessment | $0 |
| Land Assessment | $13,567,200 | Total Assessment | $13,567,200 |
PROPERTY TAXES
