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193 W 700 N 23 Unit Apartment Building $8,057,199 CAD ($350,313 CAD/Unit) 4.90% Cap Rate Logan, UT 84321
INVESTMENT HIGHLIGHTS
- Some of the largest units in Logan.
- The bonus room of the loft is an extra feature.
- Little turnover makes this more of a neighborhood.
EXECUTIVE SUMMARY
Welcome to Willow Creek Cove. Twenty-three units in a great Logan location. There are six buildings. Four of the buildings are four plexes with three bedroom and 2 bath units that are 1700 square feet. One building has four units 1400 SQF and one building has three units 1400 SQF. We have not allowed roommates, but mostly have families, retirees and professional singles. There is little turnover with the average tenancy currently being 3.8 years.
As tenants move out we have been replacing the flooring with new carpet and LVT, new sinks and faucets and granite countertops. Currently,14 of the units have been switched over.
A 2023 appraisal listed one fourplex at 1.1 mil.
As tenants move out we have been replacing the flooring with new carpet and LVT, new sinks and faucets and granite countertops. Currently,14 of the units have been switched over.
A 2023 appraisal listed one fourplex at 1.1 mil.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $8,057,199 CAD | Apartment Style | Townhome |
| Price Per Unit | $350,313 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 2.16 AC |
| Cap Rate | 4.90% | Building Size | 59,793 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 23 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1991/2023 |
| Property Subtype | Apartment |
| Price | $8,057,199 CAD |
| Price Per Unit | $350,313 CAD |
| Sale Type | Investment |
| Cap Rate | 4.90% |
| Sale Condition | 1031 Exchange |
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 2.16 AC |
| Building Size | 59,793 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1991/2023 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 7 | $11,501 CAD | 9,800 |
| 3+2 | 16 | $3,454 CAD | 27,200 |
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PROPERTY TAXES
| Parcel Numbers | Total Assessment | $5,938,431 CAD (2025) | |
| Land Assessment | $1,229,151 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $4,709,280 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,229,151 CAD (2025)
Improvements Assessment
$4,709,280 CAD (2025)
Total Assessment
$5,938,431 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
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Presented by
Worthen Property Management
193 W 700 N
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