3222-3224 South Verdant Circle
3222 South Verdant Circle, Salt Lake City, UT 84109 United States
OVERVIEW
3222-3224 S Verdant Circle is a large value-add duplex that is roughly 3,332 SF. One 4BD/2BA and one 4BD/1BA, each with washers and dryers and a separate back yard in the rear of the property. The property was built in 1966 and has been well-maintained by the current owner. There is a large amount of grassy, open space on the west side of the property. This area provides an excellent space for children to play and a space where tenants can enjoy recreational activities. The rents are well below market, averaging $1,525/month. That is roughly half of what the average 4BDs in the area are getting. The 4BDs in a 1.5-mile radius average $2,966 and the top 4BDs are north of $3,200. A new owner therefore has the ability to realize increased NOI by renovating the property and increasing rents by a staggering 95%. If an owner charges for utility reimbursement, the NOI can increase even further.
Details
- Building Size:
- 3,332 SF
- Sale Price:
- $795,000 USD
- Lot Size:
- .28 Acres
- Year Built:
- 1966
AVAILABILITIES