Coming to Market and Best Buys, 2/13/17

Some exciting properties to talk about this week, either new to the market coming to market:

Fox Point at Redstone

This condo is about to hit the market and I don’t expect it’ll last very long. It’s in Fox Point at Redstone, 2 bd, 2 ba, 1-car garage and resort views. Offered at $425,00. Fox Point is a great option for short-term or long-term rentals, allows pets, the HOA dues cover snow removal, water, sewer and snow removal and run $280/month. Redstone is fun, active, walkable area, right next to the Swaner Nature Preserve which is gorgeous year-round. Summers there are my favorite because they have outdoor concerts on the plaza every week. Click here for the virtual tour.

Galleria on Main
Galleria is right on Main St., above some fun retail shops, and that is the breezeway between Swede Alley and Main St. Galleria has a great rooftop deck where people can lounge, garden, barbecue, or enjoy the parades; the location is difficult to argue with. The last sale on the MLS was in 2014. This one has a nicer remodel, and the living room faces Swede Alley, which means it’s quiet, but the balcony has Main Street views for all the action. Click here for the listing.
Treasure Mountain Inn on Main

Treasure Mountain Inn is a sleeper favorite. At the top of Main, close to the Egyptian Theatre and right across the street from Wasatch Brew Pub. Pricing has stayed low for some time now. I think if you came in with a VRBO-based property management company that could really maximize rentals you could do quite well on a nightly basis. But what makes Treasure Mountain Inn particularly exciting for me is that the city owns the parking lot across the street next to Wasatch Brew Pub and is fleshing out plans to redevelop it into underground parking and above a gathering place to draw visitors to the top of Main. Discussions have included an ampitheatre and a park. Once plans are finalized and construction is finished, I see pricing here increasing dramatically.One of the first presentations about the Wasatch Brew Pub lot redevelopment can be found here. And here is a Park Record article about the discussions. Click here for the listings.

Two lots on Woodside
Total size is 75×75, and is supposedly 1 signature away from approval to build one house in the 5,000-6,000 sq ft range on it. As you all know, it’s rare to find that much space in Old Town that doesn’t have a historic structure on it or something else you have to tear down or accommodate. The flexibility of this parcel is pretty interesting, it sounds like you could build 3 houses (but they’ll be small, it usually works out with the city’s calculations to be around 2,500 sq ft), or 2 houses (larger, more like 3,000 sq ft which seems to work out best for homeowners and renters), or one large house on the whole parcel. Will be coming to market at $3,000,000.
Four lots on Norfolk
These are 4 lots behind the library, .04 ares each, the top four lots facing Empire have been built on already. All four lots are the same price including the primo corner lot with the stair easement (this means your lot feels much larger). The location is excellent since the library is a Sundance venue, and as long as the library lot remains undeveloped offers great access to a big park. Click here for the listings.
Thaynes Canyon house
There is a house coming online on Morningstar Court, neighborhood of $2.7M
Empire Residences
New ski-in/ski-out development in Empire Pass on one of the last remaining parcels, next to Shooting Star and behind Silver Strike, 19 luxury residences, 3, 4 and 5 bedrooms. Click here for the brochure.

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