The units were acquired as part of a two-property portfolio built in 1984. Layton is located 25 miles north of downtown Salt Lake City. The population is expected to grow at a constant rate of 1.6% per year for the next five years, which is double the national average. The portfolio will provide investors with cash returns from the onset, while also providing an opportunity for enhanced long-term returns through a strategic value-add program.
The property is well maintained and offers 1-2 bedroom apartments spread across 25 buildings and 7.72 acres. In-unit features include central air-conditioning, ceiling fans, window coverings, stainless steel appliances, large closets, garbage disposal, and cable ready availability.