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$ 900,000
Est. payment /mo
Active
127 W ALBERMARLE AVE Salt Lake City, UT 84115
6,098 Sqft Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 2128347
HOA Y/N No
Annual Tax Amount $3,294
Lot Size 6,098 Sqft
Acres 0.14
Lot Dimensions 125.0x50.0x50.0
Property Sub-Type Commercial
Property Description
96 Unit Micro Apartment Development site in the HEART of the Ballpark District. Located right next to Smith's Ballpark. CIty recently rezoned to MU-8 which will allow for buildings up to 8 stories high. Additional stories may be allowed on top of that if certain incentives are met. Our current configuration is 4 story, 96 unit, wood framed building slab on grade. This is an awesome opportunity to jump in and be apart of the remaking of the Ballpark district. Previous buyer had an architect put together a site plan, elevations, and unit configuration. They also received Fire Marshall approval on this project which is the biggest hurdle to get over. They were selling a business which fell through and so they couldn't close which is why we are back on the market. There is movement on parcels all around this lot. Tradition Pointe Apartments just finished up. Right next to this parcel Abstract Development is building a beautiful Mixed Use Multi Family building. The lot across the street sold this month to a developer. Other big names like Colmena Group owns large portions of land in this area. The city has a robust plan to revitalize this area in the not so distant future. Central 9th went through this same process a few years back and now property values have skyrocketed in the area and it is a hustling and bustling place. Feel free to give me a call if you are interested in the property and I can give you the full scoop on the area, neighboring parcels, etc. to save you a lot of time and effort. Building on property was razed and so you have a flat empty lot to work with. Would possibly be open to short term seller finance or JV with the right developer. Owner Agent.
Location
State UT
County Salt Lake
Area Salt Lake City; So. Salt Lake
Interior
Fireplace No
Exterior
View Y/N Yes
Present Use Commercial,Multi-Family
Topography Terrain: Flat
Private Pool No
Building
Lot Description Fenced: Full, Terrain: Flat
New Construction No
Schools
Elementary Schools Liberty
Middle Schools Clayton
High Schools Highland
School District Salt Lake
Others
Senior Community No
Tax ID 15-13-227-001
Listed by Equity Real Estate (Premier Elite)