2544 Porter Ave, Ogden, UT 84401

Vintage 5-Plex for sale by owner in the heart of the newly designated "9-Rails Creative Art District" in historic down town Ogden. The property was remodeled 3 years ago. Rents are stable. With the recent adoptions of the new "9-Rails Creative Art District," this property has incredible potential for someone willing to upgrade it further. See: https://www.ogdencity.com/DocumentCenter/View/7324/180807-FINAL-CREATIVE-DISTRICT-MASTER-PLAN A proposed development next door to the north of the property will be building 17 brand new town houses ($200k-$300k), 18 one and two-bedroom apartments (estimated rent @ $800-$1200/mo) and a mixed mixed use commercial/apartment building with 18-25 additional apartment units). If you crunch the numbers, this is easily a $10-$12M+ project. See proposal here: https://www.ogdencity.com/DocumentCenter/View/8806/L-mu-rezone-at2530-porter Renting the current units at $1,000/mo each after renovations would increase the NOI almost 50%. All units are currently occupied. Please do not disturb the tenants. I currently live out of country, and am not in a position to develop this property further. I would love to see someone being able to take this and run with it. Please email me to discuss. I'm happy to chat on the phone by appointment. Note: This is a legal 5-plex - it will not qualify for non-commercial financing. Please only inquire if you are in a position to finance this purchase or pay with cash.