1100 Us-89 Ephraim, UT 84627

This exceptional 28.95-acre property in Ephraim, Utah, presents a unique mixed-use investment opportunity. The site boasts approved zoning for a 360-unit multifamily development, offering flexibility to create apartments, townhomes, or condominiums. The city of Ephraim is providing an impact fee credit of approximately $1,000,000 to the developer. Water hookups will be covered by the developer, eliminating upfront water infrastructure costs. Further development potential exists, with the possibility of adding up to 40 more units pending site plan approvals. Included in the sale are two additional parcels totaling approximately 7.48 acres: 3.53 acres zoned for storage units and 3.95 acres zoned commercial, both adjacent to the high-density residential area. The property enjoys a prime location just north of a Walmart, with frontage on Highway 89, ensuring high visibility and accessibility. A feasibility study indicates 100% occupancy upon completion of each building, driven by the area's significant housing shortage. The total square footage is 1,219,680, with an asking price of $3,000,000 ($2.46/sq ft). All vesting is in place. The feasibility study and plat map are available upon request. The property's APN is 5358, 5358X4, and 5358X5. This is a turnkey opportunity to capitalize on Ephraim's thriving market and strong demand for housing.