Smith Villas
Multifamily | 18 Units | $172,222/unit
Marketing description
Marcus & Millichap is pleased to present Smith Villas, an 18-unit multifamily community located in Ogden, Utah. The property features a predominantly two-bedroom unit mix and offers a compelling value-add opportunity, with in-place rents approximately 15–25% below market. Select interior and exterior improvements provide a strong foundation for continued upgrades and repositioning.
Smith Villas benefits from a central Ogden location near Weber State University, Historic 25th Street, and Hill Air Force Base, supporting consistent rental demand from a diverse tenant base. Convenient access to I-15 enhances regional connectivity, while the combination of favorable unit mix, strong location fundamentals, and remaining upside positions Smith Villas as an attractive investment opportunity in a resilient Northern Utah market.
Investment highlights
Strong Upside Potential: Current rents are 15-25% below market, providing immediate value-add opportunity through interior renovations and curb appeal enhancements to achieve market-rate pricing and unlock significant NOI growth.
Strategic Ogden Location: Positioned near Weber State University (30,000+ students/staff), Historic 25th Street's dining and entertainment district, and Hill Air Force Base, Utah's sixth-largest employer, with convenient I-15 access and proximity to world-class ski resorts and outdoor recreation.
Favorable Unit Mix: Comprising of 13 two-bedroom units (72%) and 5 one-bedroom units, the property's predominantly two-bedroom configuration appeals to diverse tenant demographics including young professionals, families, and roommates, supporting strong occupancy and minimal turnover.
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