Prime Land Development Oppurtunity | SF of Land: 76,665+/- SF (1.76 acres) | 1306 E 3300 S, Millcreek, UT 84106
Utah boasts one the strongest economies in the nation encouraged by business-friendly legislation and tax incentives. These incentives help businesses reduce their tax burden and increase their profitability, allowing them to reinvest in their operations, expand their workforce, and drive economic development.
Why Utah?
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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
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6955 S. Union Park Center
Suite 450
Midvale, UT 84047
Investment Sales
Salt Lake City OFFICE
CONTACT Us
DIANNE HODNETT
Associate
801.839.3168
dianne.hodnett@berkadia.com
UT GRE 11397334-SA00
GREG BARRATT
Senior Managing Director
801.532.4901
greg.barratt@berkadia.com
UT GRE 7001869-SA00
Mortgage Banking
Cameron Hart
Senior Director
512.226.8708
cameron.hart@berkadia.com
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UTAH RANKED #1 IN THE NATION FOR BEST BUSINESS CLIMATE Schweitzer Engieering Laboratories Sept. 2024
Investment Highlights
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Cottonwood on 33 presents a unique investment opportunity in a desirable east side Utah neighborhood, adjacent to Millcreek’s City Center. It offers excellent access to attractions and employment hubs, a vibrant lifestyle with ski resorts nearby, strong economic fundamentals, and a projected 5-year median household income growth of 17.9% to $109,722, underscoring its long-term investment potential.
Compelling Opportunity
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Best Economic Outlook
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UTAH RANKED #1 IN THE NATION—BEST EMPLOYMENT News & World Report — August 2024
UTAH RANKED #1 IN THE NATION - BEST ECONOMIC OUTLOOK for the 17th Straight year Rich States Poor States—April ‘24
UTAH #1 IN THE NATION WITH THE YOUNGEST POPULATION News & World Report—July ‘24
UTAH RANKED #1 IN THE NATION –
SOCIAL MOBILITY Archbridge Institute—January ‘24
Utah is the No. 6 most affordable state USA Today—March ‘24
Address: 55 W. Center Street North Salt Lake, UT 84054
Total Units:183
Class: B (multifamily / garden-style)
Stories: Three-story (some buildings sit below ground level
Year of Construction / Renovation: 1978 / 2012
Buildings: 33 (plus a leasing office / clubhouse)
Building Materials: Frame, stucco and stone accents (clubhouse)
Roof: Pitched roofs with composition shingles
Acres / Density: 7.10 acres / 25.77 units per acre
Distance from Downtown: 6 miles NW of Downtown Salt Lake
Location: On W Center St between I-15 and S Main St
Pets: Yes
property Overview
unit amenities
Newly Renovated with New Appliances, Modern Designer Finishes, Premium Lighting Fixtures, and Wood-Style Flooring
Updated Kitchen with Electric Stove, Refrigerator, Dishwasher, Double Basin Sink, Dining Area, and Plenty of Cabinet and Counter Space
Plush Carpeting, Lighted Ceiling Fans, and Mini /Vertical Blinds
Full Size Bathroom with Tub and Shower Combination and Separate Large Vanity Area
Oversized Windows Providing Abundant Natural Light
Walk-In Closets and Semi-Private Entry
Large Patio / Balcony with Sliding Glass Doors
Select Units Have Washer and Dryer Available
Air Conditioning / Heating, High-Speed Internet Access, and Cable / Satellite TV Available
community amenities
Scenic Views of Wasatch Mountains
Swimming Pool with Sundeck and Indoor Spa
Clubhouse with Entertainment Space, TV / Media Lounge, Coffee Station, and Free Wi-Fi
Fitness Center with Cardio and Weightlifting Equipment and Free Weights
Picnic and Grilling Area
Laundry Facility
Indoor Package Lockers
On-Site Parking and Covered Carport Parking Available
Controlled Access
Lushly Landscaped with Manicured Grass, Mature Trees, Trimmed Shrubs, and Flowering Plants
Online Resident Portal / Smartphone App with Rent and Maintenance Request Acceptance
Within Walking Distance of Public Transportation (Ride UTA Bus Line)
Across the Street from Hatch Park with Sports Courts and Fields, Picnic Pavilion, Playground, and Walking Path
Close to Schools, Stores, Restaurants, and Entertainment Options
Convenient Access to Interstates 15 and 215, U.S. Highway 89, Ride UTA Green Line Light Rail Station, Salt Lake City International Airport, The University of Utah, Skii Resorts, Hiking Trails, Great Salt Lake, and Downtown Salt Lake City
Christopher Ellis
Senior Managing Director
303.681.7578 christopher.ellis@berkadia.com
Berkadia Salt Lake City Investment Sales is pleased to present Cottonwood on 33, a premier 1.76-acre development opportunity ideally situated near Sugar House and downtown Salt Lake City (a short 12-minute drive). This excellent east side infill location offers high density capacity, previously approved for approximately 226 units with potential for additional units. The site is conveniently located near thousands of jobs, transit options, educational institutions, shopping, and entertainment venues. Additionally, it boasts a great marketing window with 29,000 Average Annual Daily Traffic (AADT).
In an affluent area where 74% of the workforce holds white-collar jobs, the high cost of home ownership makes apartment living an attractive alternative, with average mortgages exceeding rents by $2,000 monthly. Positioned directly across from the new Millcreek City Center, this irreplaceable site promises increasing value over time. Millcreek’s unparalleled recreational access, with eight world-class ski resorts within a 30-minute drive, combined with Utah’s projected population growth to 5 million by 2050, underscores the immense potential of this exceptional development opportunity.
Development Opportunity with Incredible Proximity to Downtown Salt Lake City
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The Millcreek submarket faces significant barriers to entry, including rising construction costs and scarce land, making Cottonwood on 33 a unique opportunity to secure a high-quality location at a price well below downtown Salt Lake City. These challenges limit new development, offering a rare chance to gain a foothold in one of Salt Lake County’s most coveted submarkets.
Significant Barriers To Entry
Cottonwood 33 Land offers a prime location with easy access to dining, entertainment, shopping, and employment. Nearby attractions include Brickyard Plaza, and major employers like the University of Utah and Goldman Sachs. It's in the Granite School District, home to the academically and athletically strong Olympus High School.
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