560 21st St
Ogden, UT 84401
- 10 beds
- 8 baths
- 7,483 sqft
- ~1/2 acre lot
- $140 per sqft
- 1936 build
This exceptional investment opportunity presents the chance to acquire a property of 2 multifamily properties totaling 7 units, situated in the highly sought-after Ogden area constructed in 1936, respectively. These buildings are located in a prime central Ogden location, providing convenient access to essential amenities and local attractions. The property consists of six 1BD/1BA units, and one 4BD/2BA home. The current owners have proactively maintained the properties, with numerous improvements completed in recent years. These include: 4 of the 7 units have undergone renovations within the past few years. Plumbing and electrical upgrades have also been implemented across several units. Even with 4 of the 7 units partially or fully renovated within the past 1-5 years, there is still tremendous opportunity to enhance the property value further. Additionally, 3 units are currently on month-to-month leases, making it easy to bring rents up to market rate quickly. In 2024, the average vacancy rate for this property was 19.7%, significantly higher than the Ogden area's average of 5.6% (according to Yardi Matrix). By reducing vacancy to 7% while maintaining current expenses, the property could achieve a 7.15% cap rate at the asking price. Additionally, with market rents in place, the property has the potential for a 7.87% cap rate. VALUE-ADD OPPORTUNITIES: The property sits on 0.6 acres, with vacant land ideal for storage units and potentially tenant amenities, creating an enhanced community atmosphere. Rental Rate Growth: Current rental rates are below market averages, with the potential to increase rents significantly. By getting the vacancy rate closer to market, updating the remaining units, introducing storage units, and implementing tenant amenities, this property presents substantial opportunities for rental income growth and value enhancement.
Last checked:
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Last updated Apr 11, 2025
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MLS# 2070882 —
The Building
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Year Built:1936
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Year Built Effective:1995
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New Construction:false
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Construction Status:Blt./Standing
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Architectural Style:Stories: 2
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# of Units Total:7
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Building Area Total:7483.0
Interior
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Fireplace:false
Room Dimensions
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Living Area:7483.0
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Living Area Units:Square Feet
Location
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Cross Street:21
The Property
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View:false
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Parcel Number:01-045-0004
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Property Type:Residential
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Property Subtype:> 4 Units
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Property Condition:Blt./Standing
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Zoning Description:CB
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Current Use:Residential
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Waterfront:false
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Horse:false
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Lot Size Acres:0.6
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Lot Size Area:0.6
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Lot Size Dimensions:0.0x0.0x0.0
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Lot Size SqFt:26136.0
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Lot Size Units:Acres
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Annual Amount:7900.0
Beds
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Bedrooms Total:10
Baths
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Baths:8
The Listing
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Virtual Tour Unbranded:
Heating & Cooling
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Heating:false
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Cooling:false
Schools
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Elementary School:None/Other
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Middle Or Junior School:None/Other
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High School:None/Other
The Community
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Senior Community:false
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Pool Private:false
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Spa:false
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Association:false
Parking
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Garage:false
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Attached Garage:false
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Carport:false
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Open Parking:false
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
3/17/25
Mar 17, 2025
|
Listed / Active | WFRMLS | $1,050,000 |
