885 W Schonerberg LoopMidway, UT 84049

Description

A rare development opportunity in the heart of Midway. Alcove is a private gated community with a recorded plat for 22 luxury residences, including seven duplexes and two fourplexes, directly across the street from Zermatt Resort with access to its amenities. Buy it the way that fits you. Move forward with Davies Design Build, Utah's most decorated luxury builder, already in place and ready to break ground. Or purchase the opportunity on its own and bring your own builder and vision. The current designs feature residences of 3,700+ square feet, each with 5 bedrooms, 6+ baths, and Sub-Zero and Wolf appliances. Duplex and fourplex plans, a full building cost breakdown, a site map, floor plans, and title documents are all available for review. The value is easy to see. Residences start at $1.72M, while a nearby new development is selling 2-bedroom homes for $1.4M. With Davies on board, the first units are estimated to be complete 9 months from groundbreaking, and residences can be offered fully furnished. The rental story is just as strong. Nightly rentals are allowed, which makes this community unique in Midway. A partnership with Ember Stays provides hands-off management, and owners keep 70% of rental revenue. Midway draws guests year-round, not just during ski season. Rental projections are available on request. All of this sits 4 minutes from downtown Midway and 15 minutes from Deer Valley's East Village. Reach out for the cost breakdown, walkthrough videos, and a private tour of the site.

Property Information

Property type

Land

Sub-type

Multi Family

Lot size

5.99 acres

Lot dimensions

0.0x0.0x0.0

Zoning

Multi-Family, Short Term

Days on market

3

MLS^® Listing#

2189059

Property Features

Cooling

None

Heating

None

Utilities

Natural Gas Available · Electricity Available · Sewer Available

Sewer

Public Sewer

Schools

Elementary

Midway

Middle

Wasatch

High

Wasatch

Financial Details

HOA

None

Annual taxes

$16,587

Parcel number

00-0022-2390