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Harrison Pointe 3257 Harrison Blvd 52 Unit Apartment Building $12,000,000 ($230,769/Unit) 4.66% Cap Rate Ogden, UT 84403
EXECUTIVE SUMMARY
Legend Commercial is pleased to present Harrison Pointe for sale – a remodeled, premier 52-unit multifamily community in South Ogden, Utah. Harrison Pointe has been stripped to the studs and completely rebuilt. All the electrical and plumbing was also replaced in 2019, making this property good as new.
Located 40 minutes from downtown Salt Lake City, Ogden is a thriving community of its own. Harrison Pointe Apartments are just minutes from shopping, museums, movie theaters, and restaurants. This strategic location is in the heart of South Ogden and offers all the rewards and comforts for high-class living.
The property currently offers a range of pet-friendly one-, two-, and three-bedroom floor plans ranging from 668 to 1,471 SF. Harrison Pointe is a trophy asset with an exceptional location, unsurpassed amenities, and beautiful finishes.
Community amenities include a playground, extra storage space, covered parking, pet park, pavilions, and barbecue/picnic area. High quality interiors offer open and spacious floor plans with fully equipped kitchens, quartz countertops, faux wood vinyl flooring, balcony or patio, high ceilings, and full-size washer/dryer in each unit.
Extra land on the rear of the property allow for the opportunity to build additional units. Preliminary drawings and discussions with the city allow for the construction of an additional 12 units. Along with the development potential, each unit is a condo providing extensive opportunities for a strategic exit plan. One can purchase the property and have numerous options open to them: sell condos off and collect the arbitrage, sell some of the buildings/condos to pay off debt, subdivide the additional land, or any combination of these options to best fit the buyer’s needs.
While Harrison Pointe has the potential of being a good short-term investment, it is poised to be a great mid- to long-term investment with the recent renovations and opportunities to create value. Harrison Pointe will be creating cash-flow for the wise investor for many years to come
Located 40 minutes from downtown Salt Lake City, Ogden is a thriving community of its own. Harrison Pointe Apartments are just minutes from shopping, museums, movie theaters, and restaurants. This strategic location is in the heart of South Ogden and offers all the rewards and comforts for high-class living.
The property currently offers a range of pet-friendly one-, two-, and three-bedroom floor plans ranging from 668 to 1,471 SF. Harrison Pointe is a trophy asset with an exceptional location, unsurpassed amenities, and beautiful finishes.
Community amenities include a playground, extra storage space, covered parking, pet park, pavilions, and barbecue/picnic area. High quality interiors offer open and spacious floor plans with fully equipped kitchens, quartz countertops, faux wood vinyl flooring, balcony or patio, high ceilings, and full-size washer/dryer in each unit.
Extra land on the rear of the property allow for the opportunity to build additional units. Preliminary drawings and discussions with the city allow for the construction of an additional 12 units. Along with the development potential, each unit is a condo providing extensive opportunities for a strategic exit plan. One can purchase the property and have numerous options open to them: sell condos off and collect the arbitrage, sell some of the buildings/condos to pay off debt, subdivide the additional land, or any combination of these options to best fit the buyer’s needs.
While Harrison Pointe has the potential of being a good short-term investment, it is poised to be a great mid- to long-term investment with the recent renovations and opportunities to create value. Harrison Pointe will be creating cash-flow for the wise investor for many years to come
PROPERTY FACTS
| Price | $12,000,000 | Building Class | C |
| Price Per Unit | $230,769 | Lot Size | 3.00 AC |
| Sale Type | Investment | Building Size | 44,288 SF |
| Cap Rate | 4.66% | Average Occupancy | 100% |
| No. Units | 52 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1964 |
| Property Subtype | Apartment | Parking Ratio | 2.24/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-4 | ||
| Price | $12,000,000 |
| Price Per Unit | $230,769 |
| Sale Type | Investment |
| Cap Rate | 4.66% |
| No. Units | 52 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 3.00 AC |
| Building Size | 44,288 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1964 |
| Parking Ratio | 2.24/1,000 SF |
| Zoning | R-4 |
AMENITIES
UNIT AMENITIES
- Balcony
- Washer/Dryer
- Washer/Dryer Hookup
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Freezer
- Patio
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Picnic Area
- Playground
- Property Manager on Site
- Grill
- Pet Play Area
- Trash Pickup - Door to Door
- Storage Space
- Online Services
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 27 | - | 668 |
| 2+1 | 15 | - | 981 |
| 2+2 | 8 | - | 1,035 - 1,080 |
| 3+2 | 2 | - | 1,471 |
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Harrison Pointe | 3257 Harrison Blvd
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