312 E Ramona Ave S Salt Lake City, UT 84115
Listing Courtesy of: Wasatch Front MLS / Windermere Real Estate-Utah / Lori Hendry and Lisa Woodbury
$2,230,000
30
BED
15
BATH
13,300
SQFT
Expired (53 Days)

Comments

This investment offering provides an opportunity to acquire the highly desirable Third & Ramona apartment complex. Conveniently located in a prime Sugar House location near schools, shopping, restaurants and parks allowing the superior walkability and access to transit. The current owner has cared for the property for nearly 30 years and his pride of ownership shows through. The complex consists of 5 buildings: three 4-plex buildings, one duplex and one single family home. All of the buildings have separate tax ID numbers and separate addresses. Many of the units have fresh carpet and paint. The roofs have been replaced on the three fourplex units. The inviting apartments have a charming mid-century appeal complete with globe lights, vaulted ceilings in the upper units, arched fireplaces, exposed beams and exposed brick. The units have separate power and gas meters. The landlord pays for water, sewer and garbage and there is a well on the property that can be used for supplemental irrigation. The spacious parking area has 22 parking stalls and lush park-like grounds for residents to enjoy. Two of the units have laundry hookups and there is an on-site coin operated washer and dryer included in the sale. The coin operated laundry generates about $2000 per year. The upper units have evaporative cooling and balconies. The lower units have private patio areas. The charming single family home included in the sale shares a rear property line with the apartment complex. The home is currently rented to the onsite manager. The current rents are well below market rent since the owner has chosen to keep rents low and has many long term residents. The attached property brochure has a pro-forma rent roll and expense info. The current rent roll is also attached. Please do not disturb tenants or walk through the property. Offer subject to inspection.

MLS #
1481382
Taxes
$12,614
Lot Size
0.84 acres
Type
Multifamily5up
Year Built
1969
Style
Other/See Remarks
Views
Yes
School District
Salt Lake
County
Salt Lake County
Community
Thorndyke
Interior Features
  • Refrigerator
  • See Remarks
  • Range
  • Range Hood
  • Blinds
  • Vaulted Ceilings
  • Range/Oven: Built-In
Subdivision
  • Thorndyke
Lot Information
  • Mature Trees
  • Wooded
  • View: Mountain
  • Landscaping: Full
  • Fenced: Part
  • Sprinkler: Manual-Part
Heating and Cooling
  • Forced Air
  • Gas: Central
Flooring
  • Tile
  • Carpet
  • Hardwood
Exterior Features
  • Brick
  • Cedar/Redwood
  • Roof: Asphalt Shingles
Utility Information
  • Utilities: Gas: Connected, Power: Connected, Sewer: Connected, Sewer: Public, Water: Connected
School Information
  • Elementary School: Whittier
  • Middle School: Hillside
  • High School: Highland
Garage
  • See Remarks
  • Parking: Uncovered
   
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Estimated Monthly Mortgage Payment

*Based on Fixed Interest Rate withe a 30 year term, principal and interest only

Listing price
Down payment
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Interest rate
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Disclaimer: Square footage is based on information available to agent, including County records. Information has not been verified by agent and should be verified by buyer.
Lori Hendry  and Lisa Woodbury
Lori Hendry and Lisa Woodbury