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Logan Canyon Apartments 331 400 E 16 Unit Apartment Building $4,592,291 CAD ($287,018 CAD/Unit) 5.18% Cap Rate Logan, UT 84321
Investment Highlights
- Proforma Cap Rate 6.5%
- Remodeled in 2019, totally gutted down to studs
- New roof in 2023, resurfaced parking in 2025
- 16 large studio apartments
- New kitchen cabinets and appliances, new bathrooms, large cultured marble showers, new HVAC and water heaters
- Tenants pay their own utilities, fully separated meters
Executive Summary
Within a quarter mile of USU campus, the Logan Canyon Apartments community is well located for students and small families
16 large studio apartments
Tenants pay their own utilities, fully separated meters.
Remodeled in 2019, totally gutted down to studs, with new kitchen cabinets and appliances, new bathrooms, large cultured marble showers, new HVAC and water heaters
New roof in 2023, resurfaced parking in 2025
Landlord charges for WIFI providing an additional revenue stream.
Assumable FHA loan through Arbor Financial Group, 3.8% fixed interest, expires 2035
Market rents $1,200. Currently collecting $1,000
16 large studio apartments
Tenants pay their own utilities, fully separated meters.
Remodeled in 2019, totally gutted down to studs, with new kitchen cabinets and appliances, new bathrooms, large cultured marble showers, new HVAC and water heaters
New roof in 2023, resurfaced parking in 2025
Landlord charges for WIFI providing an additional revenue stream.
Assumable FHA loan through Arbor Financial Group, 3.8% fixed interest, expires 2035
Market rents $1,200. Currently collecting $1,000
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| 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 - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| 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 | $4,592,291 CAD | Building Class | C |
| Price Per Unit | $287,018 CAD | Lot Size | 0.60 AC |
| Sale Type | Investment | Building Size | 7,500 SF |
| Cap Rate | 5.18% | Average Occupancy | 100% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1965/2024 |
| Property Subtype | Apartment | Parking Ratio | 2.93/1,000 SF |
| Apartment Style | Low-Rise |
| Price | $4,592,291 CAD |
| Price Per Unit | $287,018 CAD |
| Sale Type | Investment |
| Cap Rate | 5.18% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.60 AC |
| Building Size | 7,500 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1965/2024 |
| Parking Ratio | 2.93/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 16 | - | 468 |
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