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7337 W Louden Grove Dr 20 Unit Apartment Building $3,850,000 ($192,500/Unit) 5.27% Cap Rate Magna, UT 84044
Investment Highlights
- Modern "Turn-Key" Asset: Built in 2020, significantly reducing immediate capital expenditure (CAPEX) and maintenance costs.
- Smart-Home Integration: Equipped with a "Smart Home Package" including smart locks, doorbell cameras, and smart thermostats.
- Proven Market Resilience: Located in a submarket with 100-basis-point-plus vacancy declines in recent years, signaling upward pressure on rents.
- Oversized Floor Plans: Units are 15-20% larger than the market average, providing a significant competitive advantage.
- Proximity to Major Employment: Minutes away from the massive industrial and tech hubs of the Northwest Quadrant and the Inland Port.
Executive Summary
Built in 2020, this 20-unit asset at 7337 W Louden Grove Drive offers a rare "turn-key" investment in the high-growth Salt Lake Valley. The property features a unit mix of 16 expansive 1-bed/1-bath units (902 sq ft) and 4 oversized 2-bed/1-bath units (1,322 sq ft), providing significantly more living space than the market average to attract great, long-term tenants. Situated just 15 minutes from Downtown SLC with immediate access to the Hwy 201 corridor, this low-maintenance building combines modern construction with the lifestyle amenities of the Colony Farms community, representing a premier opportunity for immediate cash flow and long-term appreciation in Utah’s strongest rental submarket.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$319,625
|
$16.21
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$319,625
|
$16.21
|
| Taxes |
$32,886
|
$1.67
|
| Operating Expenses |
$83,951
|
$4.26
|
| Total Expenses |
$116,837
|
$5.92
|
| Net Operating Income |
$202,788
|
$10.28
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $319,625 |
| Annual Per SF | $16.21 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $319,625 |
| Annual Per SF | $16.21 |
| Taxes | |
|---|---|
| Annual | $32,886 |
| Annual Per SF | $1.67 |
| Operating Expenses | |
|---|---|
| Annual | $83,951 |
| Annual Per SF | $4.26 |
| Total Expenses | |
|---|---|
| Annual | $116,837 |
| Annual Per SF | $5.92 |
| Net Operating Income | |
|---|---|
| Annual | $202,788 |
| Annual Per SF | $10.28 |
Property Facts
| Price | $3,850,000 | Apartment Style | Low-Rise |
| Price Per Unit | $192,500 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 5.27% | Building Size | 19,720 SF |
| No. Units | 20 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 2020 |
| Zoning | R-M | ||
| Price | $3,850,000 |
| Price Per Unit | $192,500 |
| Sale Type | Investment |
| Cap Rate | 5.27% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.14 AC |
| Building Size | 19,720 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2020 |
| Zoning | R-M |
Amenities
Unit Amenities
- Microwave
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Fitness Center
- Playground
- Pool
- Tenant Controlled HVAC
- Elevator
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | 902 |
| 2+1 | 4 | - | 1,322 |
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Property Taxes
| Parcel Number | 14-21-451-079-0000 | Total Assessment | $4,323,200 |
| Land Assessment | $189,500 | Annual Taxes | $32,886 ($1.67/SF) |
| Improvements Assessment | $4,133,700 | Tax Year | 2025 |
Property Taxes
Parcel Number
14-21-451-079-0000
Land Assessment
$189,500
Improvements Assessment
$4,133,700
Total Assessment
$4,323,200
Annual Taxes
$32,886 ($1.67/SF)
Tax Year
2025
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7337 W Louden Grove Dr
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