$706,000
$775,000
8.9%For more information regarding the value of a property, please contact us for a free consultation.
8 Beds
4 Baths
3,660 SqFt
SOLD DATE : 08/15/2024
Key Details
Sold Price $706,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Square Footage 3,660 sqft
Price per Sqft $192
MLS Listing ID 2007382
Sold Date 08/15/24
Style Stories: 2
Bedrooms 8
Construction Status Blt./Standing
HOA Y/N No
Year Built 1978
Annual Tax Amount $3,573
Lot Size 10,890 Sqft
Acres 0.25
Lot Dimensions 0.0x0.0x0.0
Property Description
***Do Not Disturb Tenants*** 1463 W 1650 N is a well-located fourplex in the city of Layton, just minutes from Main St and I-15. This 3,660 SF property, built in 1978, offers significant value-add potential. It consists of four 2BD/1BA units, each roughly 915 SF. The property has a newer roof, installed two years ago, and includes 4 covered parking stalls and four storage units in the rear .All the units have long-term tenants on month-to-month leases, and because the tenants have been at the property for a long time, the rents are well below market. The average rent is $1,019/month, while similar units in the area average $1,353, with top 2BD/1BA units exceeding $1,500. Therefore, there is a substantial value-add opportunity by bringing rents to market levels. An investor can also charge for utility reimbursement, storage, and parking.1463 W 1650 N is conveniently located near many retail destinations, including Layton Hills Mall, Hobby Lobby, Lowe's, Target, and Planet Fitness. The popular Lagoon Amusement Park is about 15 minutes south of the property. Layton offers numerous family-friendly recreational activities, including 14 city parks, 6 trails, and 3 reservoirs. This property is ideal for an investor looking to capitalize on a value-add opportunity with below-market rents and long-term tenants.
Location
State UT
County Davis
Area Kaysville; Fruit Heights; Layton
Interior
Fireplace false
Exterior
View Y/N No
Present Use Residential
Private Pool false
Building
New Construction No
Construction Status Blt./Standing
Schools
Elementary Schools Lincoln
Middle Schools North Layton
High Schools Layton
School District Davis
Others
Senior Community No
Tax ID 10-057-0026
Horse Property No
Financing Conventional
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Bought with NON-MLS