A subsidiary of Alpha Wave Investors LLC has acquired Park Station Apartments, a 94-unit multifamily property in the Salt Lake City submarket of Midvale, UT. Constructed in 1974, Park Station Apartments is located at 7155 High Tech Dr. The property offers two-bedroom/one-bath floorplans and easy access to local employment and several entertainment and shopping options.
Overstock.com and ZAGG corporate headquarters are within one mile of Park Station Apartments, which is well-located off I-15 and adjacent to a TRAX light rail station, providing residents ease of access to employers throughout the metro area. In addition, major firms such as Adobe and eBay maintain a large regional presence in the area.
Alpha Wave plans to invest approximately $1.5 mil in capital improvements to the property, including the addition of a pool, fitness center, and leasing office. The company will also address deferred maintenance and renovate exteriors and interiors, including adding washers and dryers to each unit.
Article source: rentv.com