Vintage 5-Plex for sale by owner in the heart of the newly designated "9-Rails Creative Art District" in historic down town Ogden. The property was remodeled 3 years ago. Rents are stable. With the recent adoptions of the new "9-Rails Creative Art District," this property has incredible potential for someone willing to upgrade it further. See: https://www.ogdencity.com/DocumentCenter/View/7324/180807-FINAL-CREATIVE-DISTRICT-MASTER-PLAN A proposed development next door to the north of the property will be building 17 brand new town houses ($200k-$300k), 18 one and two-bedroom apartments (estimated rent @ $800-$1200/mo) and a mixed mixed use commercial/apartment building with 18-25 additional apartment units). If you crunch the numbers, this is easily a $10-$12M+ project. See proposal here: https://www.ogdencity.com/DocumentCenter/View/8806/L-mu-rezone-at2530-porter Renting the current units at $1,000/mo each after renovations would increase the NOI almost 50%. All units are currently occupied. Please do not disturb the tenants. I currently live out of country, and am not in a position to develop this property further. I would love to see someone being able to take this and run with it. Please email me to discuss. I'm happy to chat on the phone by appointment. Note: This is a legal 5-plex - it will not qualify for non-commercial financing. Please only inquire if you are in a position to finance this purchase or pay with cash.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
