Investment Overview

GREAT LOCATION AND VISIBILITY // The property is adjacent to Bria Luxury Apartments (286 units), Ellie’s Landing (84 townhomes), and Enclave & Legacy at Salt Point (286 townhomes). It is located on West 4000 South with nearly 10,000 vehicles daily. LATE STAGE LEASE UP // The property is 95 percent physically occupied and 72 percent economically occupied. Seasoned tenants make up 50 percent of the rent roll and achieve rates of $1.45 rent per square foot. A new owner can leverage high occupancy to increase rates for new and existing tenants. NEW CONSTRUCTION // The property was constructed in 2020 with standing seam metal roofs, masonry exteriors, and steel interior dividers. The asphalt has recently been resurfaced. It includes a large leasing office with a waiting area, retail sales, and security displays. DEMOGRAPHICS // West Haven is an affluent area with the average income of the trade area at $93,973. In the same three-mile radius there is a population of 68,437 and 22,773 households. RESIDENTIAL GROWTH // The area is projected to grow eight percent over the next five years. Bolstered by both single-family home and apartment development, there are currently 1,656 apartments in the development pipeline.