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    Luxury Condos Near Bear Lake Title is generated by Realmo AI

    35 E 150 S, Garden City, UT 84028

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    For Sale
    $9,120,000

    MULTI_FAMILY - Other - Garden City, UT

    Property size:
    26,480 SF
    Lot size:
    1.87 Acres
    Price / SF:
    $344/SF
    Added:
    May 22, 2025
    Days on Market:
    359
    Last Refresh:
    May 15 at 10:06 am

    Property Features for 35 E 150 S

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Single-Family, Multi-Fami
    Bedrooms
    48
    Bathrooms
    48
    Rooms
    Bathroom 22, Bedroom 41, Bedroom 29, Bathroom 37, Bedroom 3, Bedroom 42, Bathroom 14, Bedroom 22, Bathroom 2, Bathroom 21, Bedroom 28, Bedroom 46, Bathroom 40, Bedroom 9, Bathroom 26, Bedroom 26, Bedroom 38, Bedroom 2, Bedroom 16, Bedroom 35, Bedroom 32, Bathroom 48, Bathroom 24, Bedroom 37, Bathroom 7, Bedroom 25, Bedroom 45, Bedroom 4, Bedroom 8, Bathroom 28, Bathroom 19, Bedroom 44, Bedroom 23, Bathroom 35, Bedroom 1, Bathroom 18, Bathroom 8, Bedroom 30, Bedroom 34, Bedroom 6, Bathroom 41, Bathroom 45, Bathroom 13, Bedroom 27, Bedroom 10, Bedroom 33, Bathroom 27, Bedroom 24, Bathroom 15, Bathroom 17, Bedroom 7, Bathroom 4, Bedroom 20, Bathroom 9, Bedroom 14, Bedroom 36, Bedroom 39, Bathroom 11, Bathroom 30, Bathroom 23, Bedroom 48, Bedroom 13, Bathroom 33, Bathroom 39, Bathroom 38, Bedroom 17, Bedroom 11, Bedroom 5, Bathroom 32, Bedroom 21, Bathroom 3, Bedroom 31, Bathroom 10, Bathroom 29, Bathroom 20, Bathroom 44, Bedroom 40, Bathroom 42, Bedroom 47, Bedroom 12, Bedroom 15, Bathroom 6, Bathroom 5, Bedroom 43, Bathroom 46, Bathroom 12, Bathroom 43, Bathroom 34, Bedroom 19, Bathroom 31, Bathroom 36, Bathroom 25, Bathroom 47, Bathroom 1, Bathroom 16, Bedroom 18
    Parking
    32
    Parking features
    Covered
    Patio and Porch features
    Deck
    Interior features
    Bar: Wet, Bath: Primary, Disposal, Dishwasher: Built-In
    Exterior features
    Deck; Covered, Double Pane Windows, Secured Building, Sliding Glass Doors
    Accessibility
    Accessible Elevator Installed
    Standard status
    Active
    APN
    41-21-403-0101
    Size
    26,480 SF
    Lot size
    1.87 Acres

    Taxes and HOA fees

    Tax Annual Amount
    21472

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air

    Building Details

    Year built
    2025
    Number of units
    16
    Flooring type
    Carpet, Tile
    Building materials
    Stone, Stucco
    Roof type
    Asphalt, Membrane
    Architectural style
    Other

    We can help!

    Listing Contact
    Matthew Garlick
    Matthew Garlick

    Listing agent Matthew Garlick

    Listing office Berkshire Hathaway HomeServices Elite Real Estate 825 E 1180 S 300, Orem, UT

    Listing date May 22, 2025

    MLS# 2086827 Listing URL

    Copyright © 2026 UtahRealEstate.com. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Short‑term rental approved, offering high earning potential and flexibility.
    • New luxury condo development near Bear Lake, estimated completion in August.
    • 16 condos available, presenting a rare ownership opportunity in a desirable location.
    • Modern 3‑bedroom, 3‑bathroom units with 1,655 square feet of upscale living space.
    • Prime location with walking distance to beach access, restaurants, and shopping.
    • Features luxury finishes, open‑concept living, and a cozy fireplace.

    Overview

    An opportunity exists to own 16 luxury condos, estimated to be complete in August. These modern condos are located near Bear Lake. These 3-bedroom, 3-bathroom condos offer 1,655 square feet of space. Each unit features luxury finishes, an open-concept living area, and a fireplace. The location provides access to the beach, restaurants, and shopping within walking distance. Zoned for short-term rentals, these condos offer flexibility and earning potential. The property is situated on a 1.87-acre lot. The property is located in Garden City, Utah, in Rich County. The property's zoning is Single-Family, Multi-Family. The total property size is 26,480 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Map

    City
    Garden City
    County
    Rich
    State
    Utah
    Longitude
    -111.434
    Latitude
    41.9408

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    FAQs

    What type of property is this?
    Apartment building - 16 luxury condos near Bear Lake, short-term rental approved.
    Where is this apartment building located?
    The property is located at 35 E 150 S Garden City, UT.
    What is the asking price?
    The asking price for this property is $9,120,000.
    What are key features of this property?
    This property features: Short‑term rental approved, offering high earning potential and flexibility.; New luxury condo development near Bear Lake, estimated completion in August.; 16 condos available, presenting a rare ownership opportunity in a desirable location.
    (801) 836-0494
    We can help!
    Listing Contact
    Matthew Garlick
    Matthew Garlick
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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