investment highlights
- 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.
property summary
Extra Space (Managed) is a 426-unit, 46,700 net rentable square foot self-storage facility located in West Haven, Utah. The property sits on around 2.61 acres of land, was initially constructed in 2020 and contains nine single-story self-storage buildings with 250 drive-up units and 176 climate controlled units.
Extra Space (Managed) has many amenities including a gated entry with a digital keypad, a separate onsite management office in front of the entrance gate, 24/7 video surveillance throughout the facility, asphalt driveways, and units with roll-up doors.
The facility is centrally located in West Haven with excellent visibility from West 4000 South and over 9,250 passing vehicles per day. There are major drivers in the immediate area such as AutoZone, Starbucks, Bria Luxury Apartments, Taco Bell, Maverick, O’Reilly Auto Parts, McDonald’s, Jiffy Lube, and Ogden-Hinckley Airport to name a few.
