943 Chapel Dr Bountiful, UT 84010-5935

Property Details for 943 Chapel Dr

Year built

1953

Construction

FRAME

Lot size

0.27 lot acres

Property size

3,720 SF

Zone code

R-3-13

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

03-048-0053

APU

30480053

Description

This exceptional 8-unit apartment building, located at 943 Chapel Dr, Bountiful, UT 84010, presents a compelling value-add investment opportunity. The property boasts 6,290 square feet of net rentable space across two, two-story buildings situated on a 0.43-acre lot. Built in 1954 and extensively renovated in 2022, the property features modern amenities in each unit, attracting a diverse tenant base. Currently generating a NOI of $95,962, with a pro-forma NOI projected at $103,694, this property offers a 4.80% cap rate and a pro-forma cap rate of 5.18%. The asking price is $2,000,000, translating to $250,000 per unit and $317.97 per square foot. The property is zoned for multifamily use and includes 8 parking spaces. Its prime location in Bountiful, Utah, within a desirable neighborhood, ensures strong rental demand and historically low vacancy rates. Significant expense reduction potential exists under experienced management, further enhancing the property's investment appeal. The property's convenient access to major transportation routes and local amenities adds to its overall attractiveness. This is a fee simple ownership opportunity with APN numbers #030480054 and #030480053.

Location Insight

City

Bountiful

County

Davis

State

Utah

Longitude

-111.883

Latitude

40.899

CBSA code

36260

CBSA name

OGDEN-CLEARFIELD, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments