7877 Highway 89Wellsville, UT 84339

This exceptional investment opportunity presents a 69,048 square foot apartment building situated on a substantial 22.7-acre lot in Wellsville, Utah. Located at 7877 S Highway 89, zip code 84339, this property boasts a unique zoning designation and exclusive access to water, a highly desirable feature in this area. The asking price is $8,000,000, translating to a land value of $115.86 per square foot. Currently, the building and condo units are vacant. Significant damage occurred when the roof collapsed on both the main building and the condo units. Repairs have been completed on the main building's roof; however, the condo units require demolition. This presents a unique opportunity for redevelopment, given the scarcity of properties with this specific zoning and water access. The property's size and location offer considerable potential for future development and significant return on investment. Investors should be aware of the extensive rehabilitation required for this property. Detailed assessments and plans should be undertaken prior to purchase. This property is being sold as-is. The latitude and longitude coordinates are 41.6181609, -111.9760964 respectively. This is a high-risk, high-reward investment opportunity.