80-Unit Student Housing Complex Trades in Orem
- May 15, 2012
An 80-unit, 300-bed student housing complex near Utah Valley University in Orem recently came under new ownership. The asset, College Terrace Apartments, is located at 643 West 1200 South near Interstate 15. Completed in 1985, the 64,500-square-foot complex is located on a 2.6-acre site in one of Utah’s fastest-growing student communities.
The units are fully furnished and feature high-speed wireless Internet, central air conditioning, a deck and a storage area. Amenities range from an outdoor basketball court and a heated outdoor pool, to a clubhouse with a large TV and an on-site laundry facility.
Daniel Shin, a senior associate with the Salt Lake City office of Marcus & Millichap Real Estate Investment Services Inc., arranged the sale on behalf of an undisclosed investor.