2465 Monroe Blvd, Ogden, UT

Name: 2465 Monroe Blvd, For Sale in Ogden - eXp Realty
Brand: CBRE, Inc
SKU: 2165755
Price: 2100000 USD

House

For Sale

Listed price in listed location currency (USD).

$2,100,000

21100

MLS® 2165755

Key Facts
Description
Map

Key Facts

Type Multi Family

Levels Residential

Size 8526 sqft

Garage

Taxes $12,926

Days Active 3

Lot Size 0.31 Acres

Approx. Age 1924

Avg. Price Per Sqft $246

MLS® Number 2165755

Property Address: 2465 Monroe Blvd, Ogden, UT, 84401-4300

Average square foot calculated using Size range provided by listing agent.

Description

Fontanelle Apartments is a 10-unit historic multifamily asset located at 2465 Monroe Boulevard in Ogden, Utah. Built in 1924 and listed on the U.S. National Register of Historic Places, the property is a three-story building constructed in the Spanish Colonial Revival and Prairie School architectural styles. The property consists of four oversized one-bedroom units and six three-bedroom units. The four one-bedroom units are garden-level, partially above grade. The six three-bedroom units are spread two per floor across the upper levels. A drop-down basement below the concrete deck at the rear of the property houses shared laundry, mechanical systems including the furnace and hot water heater, and additional tenant storage. There is also exterior space at the rear of the site with value-add potential for carport construction. The seller has completed significant capital improvements including a new roof, full electrical rewiring with updated panels, and complete replumbing throughout the building, substantially reducing near-term capex exposure for an incoming buyer. The property operates under a RAD-converted Project-Based Voucher (PBV) HAP contract through the Ogden Housing Authority, providing a 15-year term of government-backed rental income with annual rent renegotiation rights. Current contract rents are $1, 142 per month for one-bedroom units and $1, 697 per month for three-bedroom units. Five of nine occupied units are HCV tenants operating under the PBV contract. The 10th unit is currently vacant and represents immediate upside, either by re-leasing into the PBV program or converting to market-rate tenancy. Three-bedroom units are in high demand in this submarket, and units renovated to market-rate condition can command rents meaningfully above current contract levels. The PBV contract allows the owner to renegotiate rents annually or terminate and convert individual units to market rate as they turn over, giving a buyer optionality to blend and extend or reposition over time. At an asking price of $2.1 million, the property is offered at $210, 000/unit, a 5.61% cap rate.

MLS® Number2165755

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1924

Basement

Driveway

Garage Spaces

Heat

A/C

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Jun 16, 2026List Date

$2,100,000List Price

Commute

Commute

Starting Address

Destination Address

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