295 E 800 S, Brigham City, UT 84302 For Sale

Newmark Mountain West is pleased to present this 32-unit multifamily sale in Brigham City, Utah. Located near the Utah State Campus in Brigham City and having been fully remodeled, down to the studs, with new kitchen cabinets, appliances, bathroom fixtures, paint and flooring, as well as HVAC and water heaters, the 2-building asset will continue to deliver low maintenance income for years to come. At $8.679 million, which is a 5.6% cap rate on the existing NOI the price per unit is just $275,000.

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 6.4%. There is an assumable Freddie Mac loans in place at 5% interest through 2031.

Revive Lofts

Only a few blocks away from the Brigham City Campus of USU, the Revive Lofts community houses families within its large units.

8X3 beds/1 bath (washer/dryer in unit) 8 large 2 beds/1bath, 4 small 2 beds/1bath, 8X1 bed (washer/ dryer in unit) and 4 studios/1 bath

4 Washers / 4 Dryers no coins. Potential income to replace with coin operated

In 2024 the complex was completely re-roofed, gutted and remodeled with new wiring, plumbing and mechanical equipment. Exceptional interior finishes, new kitchens cabinets and appliances, bathrooms have new fixtures including sinks, vanities, tubs and toilets

Tenants pay their own heating and electricity. Landlord covers all other utilities

Landlord charges for WIFI providing an additional revenue stream

Assumable Freddie Mac loan at 5% fixed interest, expires October 2031

Market rents: 3 beds $1,800, 2 beds $1,600 and 1 beds $1,400, currently collecting approximately $300 less than market rents