FOR SALE: Ogden Trolley District Fourplex
Published On: July 14, 2022 Posted by: Jeremy Peterson
We just listed this large fourplex property located at 545 22nd Street in Ogden. We have managed this building for the owner for the past six years. The building is nearly 2,900 SQFT with three levels. It sits across from the new Stone Hill subdivision.
Rent Rolls are as follows:
1 – $635 – Lease Expires August 31st. Rents increasing to $750
2 – $650 – Lease Expires August 31st. Rents increasing to $750
3 – $685 – Tenant vacating July 31st. Rents increasing to $750
4 – $825 – Lease expires Feburary 2023. Unit was recently repainted.
5 – What? A fifth unit? Yes. Let me tell you more…
So prior to the current owner purchasing the property, the former owner had subdivided the building into 5 units. However, this was not done with the blessing of city officials. When we licensed the property 6 years ago, this impediment was revealed to us and a 5th unit has been vacant during our tenure.
There is a way to consolidate two units and then have full utility of all the space in the building. Doing so would increase rent rolls an additional $600-$700 per month.
Here is a video montage of the various units in the building:
If you or anyone you know is interested in this building, please call me at 801-390-1480.