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Ashley Elliott

ashley@sheknowsinfo.com +1(801) 512-5512

$ 1,300,000

Est. payment | -/mo

19 Beds

14 Baths

8,436 SqFt

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$ 1,300,000

Est. payment | -/mo

Save

19 Beds

14 Baths

8,436 SqFt

Key Details

Property Type Multi-Family

Sub Type > 4 Units

Listing Status Under Contract

Purchase Type For Sale

Square Footage 8,436 sqft

Price per Sqft $154

MLS Listing ID 2189099

Style Side By Side

Bedrooms 19

Construction Status Blt./Standing

HOA Y/N No

Year Built 1900

Annual Tax Amount $7,050

Lot Size 0.980 Acres

Acres 0.98

Lot Dimensions 0.0x0.0x0.0

Property Sub-Type > 4 Units

Property Description

Seller is motivated, this multiplex is priced to move! If you've been considering an investment property, take a closer look. Own a 100% occupied, 7-unit property conveniently located just off Main Street in the heart of Springville, Utah. Springville is strategically located between southern Provo and Spanish Fork, providing a convenient base for residents who work, study, or spend time in the surrounding area. This parcel consists of 3 duplexes, 1 single family home, 4 garages fit small to mid-size car, 1 RV garage, 1 storage office, 1 storage garage, 2 sheds plus vacant land. Note: one of the duplexes is a Victorian home legally divided to have an attached apartment-home. Total of 19 bedrooms/ 14 baths (8 full/ 6 at 3/4). With current gross rent over $7,800 per month, an attractive cap rate, and projected long-term returns, this property is ideally positioned for both immediate cash flow and appreciation. All leases are monthly, except two units, giving the new owner an opportunity to evaluate adjustments as leases allow since rents have not been increased in several years. Buyers should independently verify market rent potentials, garage rent potentials, pet rent potentials, storage shed rent potentials and review the current leases. All units come with washer, dryer, kitchen refrigerator, range, dishwasher, window AC unit. Excluded items: Tenant personal property including but not limited to all microwaves, all curtain rods and drapes, all ring doorbells, all cameras. Note one duplex has central AC only. There is undeveloped land on parcel which may offer potential for a future income-producing use such as a fourth duplex, subject to city approval and buyer verification. With city approval property may be used as hotel/motel, short term rentals, bed & breakfast Inn or other uses, buyer to verify city requirements and city approved uses. Seller has adjacent parcel for sale MLS #2189137 a 12 plex "the cottages" of Springville. Square footage figures are provided as a courtesy estimate only and were obtained from county records. Buyer is advised to obtain an independent measurement.

Location

State UT

County Utah

Area Provo; Mamth; Springville

Zoning Multi-Family

Interior

Interior Features Kitchen: Updated, Range: Gas, Range/Oven: Free Stdng., Dishwasher: Built-In

Heating Gas: Radiant

Flooring Carpet, Tile

Inclusions Dryer, Range, Refrigerator, Storage Shed(s), Washer

Equipment Storage Shed(s)

Fireplace No

Exterior

Exterior Feature Porch: Open, Patio: Open

Garage Spaces 6.0

Utilities Available Natural Gas Connected, Electricity Connected, Sewer Connected, Water Connected

View Y/N Yes

View Mountain(s)

Roof Type Asbestos Shingle,Asphalt

Present Use Residential

Topography Corner Lot, Curb & Gutter, Road: Paved, Sidewalks, Terrain, Flat, View: Mountain

Porch Porch: Open, Patio: Open

Total Parking Spaces 13

Private Pool No

Building

Lot Description Corner Lot, Curb & Gutter, Road: Paved, Sidewalks, View: Mountain

Sewer Sewer: Connected

Water Culinary

Architectural Style Side By Side

Structure Type Brick,Cinder Block

New Construction No

Construction Status Blt./Standing

Schools

Elementary Schools Westside

High Schools Springville

School District Nebo

Others

Senior Community No

Tax ID 06-012-0041

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Listed by Homes International

Schools and Properties Nearby

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+1(801) 512-5512

ashley@sheknowsinfo.com

Woods Cross, USA

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60 W 300 S Springville, UT 84663