The Grand at Midvale | 8035 S Fern Cir
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The Grand at Midvale 8035 S Fern Cir
24 Unit Apartment Building $6,100,000 ($254,167/Unit) 5.20% Cap Rate Midvale, UT 84047
Investment Highlights
- Modernized & Updated: Originally constructed in 2015, The Grand at Midvale has recently undergone interior modernizations and exterior updates, includ
- Prime Central Location: Centrally located with convenient access to I-15, Downtown, and Murray Hospital, The Grand at Midvale offers unparalleled conn
- Income Growth Potential: Rents can be raised on average by ±$100 per month, and annual expenses can be reduced from ±$6,400 per unit to $6,000, enhanc
Executive Summary
Discover The Grand at Midvale, a premier multifamily property offering an unparalleled investment opportunity in
the heart of Midvale, Utah. This beautifully modernized community features stylish, updated interiors and exteriors,
ensuring a contemporary and appealing living environment for residents. Its prime location provides easy access to I-15,
Downtown, and Murray Hospital, making it a highly desirable residence for tenants seeking convenience and connectivity.
With significant potential for income growth and expense reduction, The Grand at Midvale stands out as a highly
attractive asset for savvy investors. Rents can be raised by an average of ±$100 per month, and annual expenses can
be reduced from ±$6,400 per unit to $6,000, enhancing overall profitability and return on investment. Capitalize on
this exceptional opportunity to invest in a thriving community and secure a lucrative future with The Grand at Midvale.
the heart of Midvale, Utah. This beautifully modernized community features stylish, updated interiors and exteriors,
ensuring a contemporary and appealing living environment for residents. Its prime location provides easy access to I-15,
Downtown, and Murray Hospital, making it a highly desirable residence for tenants seeking convenience and connectivity.
With significant potential for income growth and expense reduction, The Grand at Midvale stands out as a highly
attractive asset for savvy investors. Rents can be raised by an average of ±$100 per month, and annual expenses can
be reduced from ±$6,400 per unit to $6,000, enhancing overall profitability and return on investment. Capitalize on
this exceptional opportunity to invest in a thriving community and secure a lucrative future with The Grand at Midvale.
Property Facts Under Contract
| Price | $6,100,000 | Building Class | B |
| Price Per Unit | $254,167 | Lot Size | 1.09 AC |
| Sale Type | Investment | Building Size | 35,532 SF |
| Cap Rate | 5.20% | Average Occupancy | 100% |
| No. Units | 24 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 2015/2024 |
| Property Subtype | Apartment | Parking Ratio | 0.42/1,000 SF |
| Apartment Style | Low Rise | Opportunity Zone |
Yes
|
| Price | $6,100,000 |
| Price Per Unit | $254,167 |
| Sale Type | Investment |
| Cap Rate | 5.20% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 1.09 AC |
| Building Size | 35,532 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 2015/2024 |
| Parking Ratio | 0.42/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer Hookup
- Heating
- Kitchen
- High Speed Internet Access
- Refrigerator
- Satellite TV
- Range
- Views
- Walk-In Closets
- Pantry
Site Amenities
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | 752 |
| 2+1 | 12 | - | 971 |
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PROPERTY TAXES
| Parcel Number | 21-36-157-010-0000 | Improvements Assessment | $3,659,400 |
| Land Assessment | $759,200 | Total Assessment | $4,418,600 |
PROPERTY TAXES
Parcel Number
21-36-157-010-0000
Land Assessment
$759,200
Improvements Assessment
$3,659,400
Total Assessment
$4,418,600
zoning
| Zoning Code | RM-25 |
| RM-25 |
-
Evan Clark -
Jacob Miles -
Marcus & Millichap
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The Grand at Midvale | 8035 S Fern Cir
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