LA MIRA at RENAISSANCE

$9,300,000

Additional Information:

EXCEPTIONAL NEW-CONSTRUCTION MULTIFAMILY INVESTMENT OPPORTUNITY

LEOLA Commercial, Inc. is pleased to present La Mira at Renaissance, a newly constructed, 30-unit luxury apartment community located in the desirable Bountiful submarket, just 15 minutes from Downtown Salt Lake City and minutes from Interstate 15.

Completed in 2024, this architecturally distinctive, podium-style development offers investors the opportunity to acquire a modern multifamily asset featuring quality construction, contemporary finishes, and an exceptional unit mix designed to appeal to a broad range of renters.

La Mira features dramatic cathedral-style ceilings, expansive windows providing abundant natural light, oversized private balconies, and spacious, thoughtfully designed floor plans. The community offers an outstanding mix of one-bedroom, one-bedroom-plus-den, and two-bedroom residences, providing flexibility to attract professionals, couples, and households seeking upscale accommodations.

Strategically positioned near Interstate 15, residents enjoy convenient access to Downtown Salt Lake City, major employment centers, shopping, dining, and recreational amenities. The property’s desirable location and modern residential features position it to compete for strong rental demand among tenants seeking quality housing with convenient metropolitan access.

INVESTMENT HIGHLIGHTS

  • New Construction (2024): Modern 30-unit multifamily community with contemporary architecture and quality finishes.
  • Cathedral-Style Ceilings: Dramatic ceiling heights create an open, luxurious residential atmosphere.
  • Podium Construction: Distinctive three-story residential development with controlled-access parking.
  • Exceptional Unit Mix: 12 one-bedroom units, 9 one-bedroom-plus-den units, and 9 two-bedroom units.
  • Strong Rental Appeal: Modern amenities, spacious layouts, and desirable location support the property’s competitive positioning.
  • Prime Location: Approximately 15 minutes to Downtown Salt Lake City.
  • Excellent Freeway Accessibility: Minutes from Interstate 15, providing convenient regional connectivity.
  • Upscale Interior Finishes: Stainless steel appliances, oversized cabinetry, luxury vinyl plank flooring, and large windows.
  • Desirable Community Amenities: Private balconies, elevator access, high-speed fiber internet, and EV parking provisions.
  • Investment Upside: Potential rental income growth through lease optimization and market positioning.

 

 

Sale Indicators

  • Price:             $9,300,000
  • Price/Unit:    $310,000
  • CAP Rate:      5.18%
  • GRM:             14.97

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