UT > Ogden
Ogden, UT 84403,3523 ADAMS AVE
Ogden, UT 84403,3523 ADAMS AVE
Ogden, UT 84403,3523 ADAMS AVE
Ogden, UT 84403,3523 ADAMS AVE
Ogden, UT 84403,3523 ADAMS AVE
Ogden, UT 84403,3523 ADAMS AVE
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Tue
1
Apr
Wed
2
Apr
Thu
3
Apr
Shannon Olsen

Shannon Olsen

+1(801) 458-6467
$ 575,000
Est. payment | /mo

4 Beds

5 Baths

3,348 SqFt

Save Virtual Tour
$ 575,000
Est. payment | /mo
Save Virtual Tour

4 Beds

5 Baths

3,348 SqFt

Key Details

Property Type Multi-Family

Sub Type > 4 Units

Listing Status Active

Purchase Type For Sale

Square Footage 3,348 sqft

Price per Sqft $171

MLS Listing ID 2070885

Style Stories: 1

Bedrooms 4

Construction Status Blt./Standing

HOA Y/N No

Year Built 1917

Annual Tax Amount $3,106

Lot Size 0.330 Acres

Acres 0.33

Lot Dimensions 0.0x0.0x0.0

Property Sub-Type > 4 Units

Property Description

This exceptional investment opportunity presents the chance to acquire a multifamily property totaling 5 units, constructed in 1917, situated in the highly sought-after Ogden area. This building is located in a prime central Ogden location, providing convenient access to essential amenities and local attractions. The property consists of two studios, two 1BD/1BA units, one 2BD/1BA unit. The current owners have proactively maintained the property, with numerous improvements completed in recent years. These include: Two of the 5 units have been renovated in the past few years, offering significant upside potential for further updates and rent increases. Even with 2 of the 5 units renovated within the past 1-5 years, there is still tremendous opportunity to enhance the property value further. Additionally, 3 units are currently on month-to-month leases, making it easy to bring rents up to market rate quickly. In 2024, the average vacancy rate for this property was 21.4%,significantly higher than the Ogden area's average of 5.6% (according to Yardi Matrix). By reducing vacancy to 7% while maintaining current expenses, the property could achieve a 7.34% cap rate at the asking price. Additionally, with market rents in place, the property has the potential for a 8.02% cap rate. VALUE-ADD OPPORTUNITIES: The property, which sits on a 0.33-acre double lot, offers room for storage unit development. Rental Rate Growth: Current rental rates are below market averages, with the potential to increase rents significantly. By getting the vacancy rate closer to market, updating the remaining units, introducing storage units, and implementing tenant amenities, this property presents substantial opportunities for rental income growth and value enhancement

Location

State UT

County Weber

Area Ogdn; W Hvn; Ter; Rvrdl

Interior

Fireplace No

Exterior

View Y/N No

Present Use Residential

Private Pool No

Building

New Construction No

Construction Status Blt./Standing

Schools

Elementary Schools None/Other

Middle Schools None/Other

High Schools None/Other

Others

Senior Community No

Tax ID 05-117-0065

Virtual Tour https://media.showingtimeplus.com/sites/vepvlww/unbranded

Listed by Pathway Properties, LLC
agent-avatar

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(801) 458-6467

myutahagents@gmail.com

739 E 3800 N, NORTH OGDEN, Utah, 84414, USA

GET MORE INFORMATION

Name
Phone*
Message

By checking this box, I agree by electronic signature to (1) the Electronic Disclosure Consent; (2) receive recurring marketing communication from or on behalf of My Utah Agents, including auto-dialed calls, texts, and prerecorded messages (consent not required to make a purchase; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for help); and (3) the Terms of Service and Privacy Policy of this website. I understand that I can call +1(801) 458-6467 to obtain direct assistance.

Go tour this home

3523 ADAMS AVE