1100 N Highway 89, Ephraim, UT 84627

Property Description

Seller is willing to carry 50% for 18 months but purchase price would need to be $3,000,000. for those terms. Ephraim is experiencing a severe housing shortage. The timing is right for a project like this. Seller has zoning in hand for 360 units that can either be apartments, townhomes condos or a mixture but approval is in hand for 360 units. Also approximately 3.7 acres approved for storage units and an additional 4 acres zoned commercial. Located just north of the Wal Mart in Ephraim on highway 89. Feasibility study, soils, engineering plats in hand and available by request. Feasibility study shows 100% occupancy as each building is finished due to the severe housing shortage. Approved plat is attached. Buyer will need to obtain final plat approval but zoning and density have already been approved. Approximately 60 days needed to obtain final plat approval once engineering is done and submitted to city. Sale includes surveys soils and all engineering done to date.