80-Unit Apartment Portfolio - Salt Lake City, UT

Asset type: Apartment · Location: South Salt Lake, Utah

We closed on White Pines on July 25, 2024 and on Blair Street on August 30, 2024. We still have room for a few more investors to be fully funded on this property. This is your opportunity to invest in one of the fastest-growing metros in the country!! 80 multifamily units just south of downtown Salt Lake City right in the path of progress. Portfolio consists of two properties just over a mile apart will allow us to have affordable full-time, on-site management covering both properties. Conveniently located in close proximity to: I-80 and I-15 freeways Major employment centers Higher education (University of Utah and Salt Lake Community College) Dining and entertainment White Pines Apartments 56 units $12,930,000 (reduced from $13,020,000) 2 bed / 1 bath Recently renovated interiors, but the exterior still needs work. "Distressed" debt situation: owner has a variable rate loan that is forcing them to sell at a loss. We will improve the property through exterior renovations, addition of amenities, and adding "other income" to the property. On-site management office will allow us to efficiently manage both properties from a centralized location. Blair Apartments 24 units $4,500,000 (reduced from $4.8 million) 18 x 2 bed / 1 bath 6 x 1 bed / 1 bath Excellent condition. Seller has owned and managed the property since 1994 and listed the property with a residential agent on the MLS, so we're getting a FANTASTIC price. We will improve the property by modernizing the exterior of the building and adding "other income" to the property (laundry, pet rent, common area maintenance fees, etc.).