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Lex Apartments 1241 N Lexington Greens Dr 204 Unit Apartment Building For Sale Tooele, UT 84074
Investment Highlights
- 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.
- 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.
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$5,166,951
|
$16.78
|
| Other Income |
$918,262
|
$2.98
|
| Vacancy Loss |
$258,348
|
$0.84
|
| Effective Gross Income |
$5,826,865
|
$18.93
|
| Taxes |
$412,930
|
$1.34
|
| Operating Expenses |
$1,325,285
|
$4.30
|
| Total Expenses |
$1,738,215
|
$5.65
|
| Net Operating Income |
$4,088,650
|
$13.28
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $5,166,951 |
| Annual Per SF | $16.78 |
| Other Income (CAD) | |
|---|---|
| Annual | $918,262 |
| Annual Per SF | $2.98 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $258,348 |
| Annual Per SF | $0.84 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $5,826,865 |
| Annual Per SF | $18.93 |
| Taxes (CAD) | |
|---|---|
| Annual | $412,930 |
| Annual Per SF | $1.34 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $1,325,285 |
| Annual Per SF | $4.30 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $1,738,215 |
| Annual Per SF | $5.65 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $4,088,650 |
| Annual Per SF | $13.28 |
Property Facts Under Contract
| 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 | $1,839 CAD | 775 |
| 2+2 | 108 | $2,187 CAD | 948 - 958 |
| 3+2 | 24 | $2,462 CAD | 1,238 |
1 1
Somewhat walkable
20/100
Very drivable
80/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 22-041-0-0002 | Total Assessment | $38,330,164 CAD (2025) |
| Land Assessment | $1,979,162 CAD (2025) | Annual Taxes | $412,930 CAD ($1.34 CAD/SF) |
| Improvements Assessment | $36,351,001 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
22-041-0-0002
Land Assessment
$1,979,162 CAD (2025)
Improvements Assessment
$36,351,001 CAD (2025)
Total Assessment
$38,330,164 CAD (2025)
Annual Taxes
$412,930 CAD ($1.34 CAD/SF)
Tax Year
2026
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Lex Apartments | 1241 N Lexington Greens Dr
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