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Lex Apartments 1241 N Lexington Greens Dr 204 Unit Apartment Building For Sale Tooele, UT 84074
INVESTMENT HIGHLIGHTS
- Call for Offers: Due Tuesday, June 24, 2025
- The community benefits from limited competition due to strong barriers to entry for new developments in Tooele.
- Lex Apartments is within a 30-minute drive of downtown Salt Lake City and SLC International Airport.
- Tooele is the fastest growing county in the state of Utah, 12.8% population growth 2020 – July 2023 (announced Oct. 2024)
- New shopping district within one mile of Lex Apartments.
- Brand new high school and LDS temple within two miles of property.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$5,168,657
|
$16.79
|
| Other Income |
$867,045
|
$2.82
|
| Vacancy Loss |
$412,986
|
$1.34
|
| Effective Gross Income |
$5,622,715
|
$18.26
|
| Taxes |
$283,745
|
$0.92
|
| Operating Expenses |
$1,298,864
|
$4.22
|
| Total Expenses |
$1,582,609
|
$5.14
|
| Net Operating Income |
$4,040,106
|
$13.12
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $5,168,657 |
| Annual Per SF | $16.79 |
| Other Income (CAD) | |
|---|---|
| Annual | $867,045 |
| Annual Per SF | $2.82 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $412,986 |
| Annual Per SF | $1.34 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $5,622,715 |
| Annual Per SF | $18.26 |
| Taxes (CAD) | |
|---|---|
| Annual | $283,745 |
| Annual Per SF | $0.92 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $1,298,864 |
| Annual Per SF | $4.22 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $1,582,609 |
| Annual Per SF | $5.14 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $4,040,106 |
| Annual Per SF | $13.12 |
PROPERTY FACTS
| Sale Type | Investment | Building Class | B |
| No. Units | 204 | Lot Size | 14.61 AC |
| Property Type | Multifamily | Building Size | 307,891 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Garden | Year Built | 2023 |
| Sale Type | Investment |
| No. Units | 204 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 14.61 AC |
| Building Size | 307,891 SF |
| No. Stories | 3 |
| Year Built | 2023 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Tub/Shower
- Walk-In Closets
- Freezer
SITE AMENITIES
- Clubhouse
- Fitness Center
- Playground
- Pool
- Spa
- Grill
- Media Center/Movie Theatre
- Pet Play Area
- Walking/Biking Trails
- Pet Washing Station
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 72 | $1,853 CAD | 775 |
| 2+2 | 108 | $2,204 CAD | 948 - 958 |
| 3+2 | 24 | $2,481 CAD | 1,238 |
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Lex Apartments | 1241 N Lexington Greens Dr
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