Multifamily Portfolio Near Utah
For Sale
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620 East 600 North Logan UT, Logan, UT 84321
159-unit multifamily portfolio near Utah State University.
Property SizeContact for details
Days on Market187
Property Features for 620 East 600 North Logan UT
General Information
Standard status
Active
Class
B
Property subtype
Multifamily
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$2,067,274
Building Details
Year Built
1967
Year Renovated
2024
Buildings
7
Stories
2
Units
159
Listing Agency:
Newmark Mountain West
Listed By:
Chet Barber · License #5493255-AB00
Source:
Crexi
Added: Feb 7
Changed: Aug 8
Last Checked: Aug 12 at 4:21AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Newmark Mountain West
Investment Insights
Based on property information with market context.
This multifamily portfolio features 159 units across seven buildings within a 27-mile radius of Utah State University. The portfolio includes a former student housing village and six other apartment complexes, consisting of garden-style apartments where utilities are covered by the landlord, and townhomes with separate meters paid by tenants. All apartments have been remodeled within the last three years, with many fully gutted and refurbished with new kitchen cabinets, bathroom fixtures, appliances, paint, and flooring. The apartments have been 100% occupied with minimal downtime between tenants, and rents are currently maintained on the low end of the market, presenting an opportunity to raise rents. The portfolio has supported students and alumni of Utah State University, which has contributed to economic growth and employment in Logan. Population growth has outpaced the production of housing units. The portfolio offering will place the future owner in a position to continue supporting and benefiting from the growth and education of this vibrant area. There are FHA and Freddie Mac loans in place on 5 of the properties which are assumable at 3.8% interest through 2035 (FHA) and 5% interest through 2031 (Freddie Mac).
Key Highlights
- Assumable FHA and Freddie Mac loans in place on 5 properties at attractive interest rates.
- 100% occupancy maintained for many years.
- Significant upside potential through incremental rent increases.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
665
Businesses Nearby
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Business Placement
Demographics for 84321, UT
49,550
Population
17,213
Households
2.9
Avg Household Size
26
Median Age
38%
College-Educated
92%
High-School Grad
220.1 sq mi
ZIP Area
225
Density / Sq Mi
$66,262
Median Household Income
$24,946
Median Earnings
$1,037
Median Rent
$360,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - 159-unit multifamily portfolio near Utah State University.
Where is this apartment building located?
The property is located at 620 East 600 North Logan UT Logan, UT.
What is the asking price?
The asking price for this property is $37,000,000.
What are key features of this property?
This property features: Assumable FHA and Freddie Mac loans in place on 5 properties at attractive interest rates.; 100% occupancy maintained for many years.; Significant upside potential through incremental rent increases.
