620 E 600 N, Logan, UT 84321

Newmark Mountain West is pleased to present this 65-unit multifamily portfolio sale of two former student housing buildings just steps from the Utah State Campus in Logan, Utah. With an asking price of $14.95 million, the cap rate is 5.39% on the existing NOI. The average price per unit, at that price is just over $224,000. All the apartments have been remodeled within the last 3 years with updated kitchen cabinets, paint and flooring. The parking lot was resealed in 2025.

The current owner has kept the apartments 100% occupied for many years, with little to no downtime between tenants and with rents maintained on the low end of the market. There is an opportunity to raise rents incrementally and capture upside. The proforma cap rate, at market rents is 6.5%. There is an assumable FHA loan in place at 3.8% interest through 2035.

The portfolio has been a place which has supported and benefited the students and alumni of Utah State University. USU was founded in 1888 as an agricultural college and is known as the home of the Aggies. With 29,831 students and 187,744 alumni, the university is a powerhouse in academics and athletics. USU is the foundation of Logan and the surrounding towns. The innovations coming out of the university and the productive and educated population has led to a steep increase in large manufacturing, data and finance companies locating in the area. Economic growth and employment in Logan have continually outpaced other larger cities in Utah and in the region for well over a decade. For those reasons population growth has continued to outpace the production of housing units.

Because most occupants within the portfolio are college students or small families getting their start in the local employment scene, the portfolio offering will place the future owner in a position to continue supporting and benefiting from the growth and education of this vibrant area.