Address
2465 Monroe Blvd, Ogden, UT
Price
$ 2,100,000
Property Attributes
- MLS#2165755
- TypeMulti-Family
- Listing Status Active
- CountyWEBER
- CityOgden
- AreaOgdn
- Zip84401
- StyleStories: 3
- Year Built1924
- Taxes$ 12926
- Price$ 2,100,000
- Bedrooms21
- Full Bathrooms10
- Half Bathrooms0
- Sqr Footage8526
- Lot Size0.31 Acres
Data Source:
Wasatch Front Regional MLS (WFRMLS)
Property Description
Fontanelle Apartments is a 10-unit historic multifamily asset located at 2465 Monroe Boulevard in Ogden, Utah. Built in 1924 and listed on the U.S. National Register of Historic Places, the property is a three-story building constructed in the Spanish Colonial Revival and Prairie School architectural styles. The property consists of four oversized one-bedroom units and six three-bedroom units. The four one-bedroom units are garden-level, partially above grade. The six three-bedroom units are spread two per floor across the upper levels. A drop-down basement below the concrete deck at the rear of the property houses shared laundry, mechanical systems including the furnace and hot water heater, and additional tenant storage. There is also exterior space at the rear of the site with value-add potential for carport construction. The seller has completed significant capital improvements including a new roof, full electrical rewiring with updated panels, and complete replumbing throughout the building, substantially reducing near-term capex exposure for an incoming buyer. The property operates under a RAD-converted Project-Based Voucher (PBV) HAP contract through the Ogden Housing Authority, providing a 15-year term of government-backed rental income with annual rent renegotiation rights. Current contract rents are $1,142 per month for one-bedroom units and $1,697 per month for three-bedroom units. Five of nine occupied units are HCV tenants operating under the PBV contract. The 10th unit is currently vacant and represents immediate upside, either by re-leasing into the PBV program or converting to market-rate tenancy. Three-bedroom units are in high demand in this submarket, and units renovated to market-rate condition can command rents meaningfully above current contract levels. The PBV contract allows the owner to renegotiate rents annually or terminate and convert individual units to market rate as they turn over, giving a buyer optionality to blend and extend or reposition over time. At an asking price of $2.1 million, the property is offered at $210,000/unit, a 5.61% cap rate.
| Elementary School | Middle School | High School |
|---|---|---|
| Polk Elementary School | Mount Ogden Middle School | Ogden High School |
| Price History | |
|---|---|
| 6/16/2026 | Listed $2,100,000 |
General Features
| Living Area | 8526.0 |
|---|---|
| Architectural Style | Stories: 3 |
| Year Built | 1924 |
| Property Subtype | > 4 Units |
| Current Use | Residential |
| County | Weber |
| New Construction | No |
| Property Type | Residential |
| HOA | No |
| Attached Garage | No |
| Garage Y/N | No |
| Status | Active |
| High School | Ogden |
| City | Ogden |
| Senior Community Y/N | No |
| High School District | Ogden |
| Number Of Units Total | 10 |
| MLS Area | Ogdn; W Hvn; Ter; Rvrdl |
| Lot Size Units | Acres |
| Lot Size Square Feet | 13503.6 |
| Carport Y/N | No |
| Elementary School | Polk |
| Property Attached Y/N | No |
| Tax Annual Amount | 12926.0 |
| Home Warranty Y/N | No |
| Middle/Junior High School | Mount Ogden |
| Property Condition | Blt./Standing |
| Lease Considered Y/N | No |
| Living Area Units | Square Feet |
| Standard Status | Active |
| Middle/Junior School District | Ogden |
| Elementary School District | Ogden |
| PostalCity | Ogden |
| ADU | No |
Interior Features
| Air Conditioning Y/N | No |
|---|---|
| Heating Y/N | No |
| Fireplace Y/N | No |
| Total Bedrooms | 21 |
| Total Baths | 10 |
Exterior Features
| Lot Size Area | 0.31 |
|---|---|
| Spa | No |
| Building Area Total | 8526.0 |
| Lot Dimensions | 0.0x0.0x0.0 |
| Lot Size Acres | 0.31 |
| Frontage Length | 0.0 |
| Private Pool | No |
| Waterfront Y/N | No |
| RV Parking Dimensions | 0.00 |
| Horse Y/N | No |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 84401
Price
Taxes
Year Built
Visits
Wasatch Front Regional MLS - Salt Lake Board of REALTORS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties
