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Sheri Albrecht-Booth

sheriboothteam@gmail.com +1(801) 361-3737

$ 1,700,000

Est. payment | -/mo

29 Beds

14 Baths

11,805 SqFt

Save

$ 1,700,000

Est. payment | -/mo

Save

29 Beds

14 Baths

11,805 SqFt

Key Details

Property Type Multi-Family

Sub Type > 4 Units

Listing Status Under Contract

Purchase Type For Sale

Square Footage 11,805 sqft

Price per Sqft $144

Subdivision The Cottages

MLS Listing ID 2189137

Bedrooms 29

Construction Status Blt./Standing

HOA Y/N No

Year Built 1935

Annual Tax Amount $8,345

Lot Size 0.520 Acres

Acres 0.52

Lot Dimensions 0.0x0.0x0.0

Property Sub-Type > 4 Units

Property Description

Seller is motivated and has reduced the price. Making this rare opportunity more affordable to own "The Cottages" of Springville, Utah. 100% occupied, 12-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, 6 single family homes, 9 individual garages. 29 total bedrooms, 14 baths. With current gross rents over $11,300 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 and review the current leases. All units come with washer, dryer, 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. Buyer to verify with city all possible uses of this property including but not limited to hotel/motel, short term rental, bed and breakfast Inn all uses are subject to city approval and buyer to verify. Seller has adjacent parcel for sale see MLS #2189099. 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/Oven: Free Stdng., Dishwasher: Built-In

Heating Gas: Radiant

Flooring Carpet, Tile

Inclusions Dryer, Range, Refrigerator, Washer

Fireplace No

Exterior

Exterior Feature Porch: Open, Patio: Open

Garage Spaces 9.0

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

View Y/N Yes

View Mountain(s)

Roof Type Asbestos Shingle,Asphalt,Membrane

Present Use Residential

Topography Curb & Gutter, Fenced: Part, Sidewalks, Terrain, Flat, View: Mountain

Porch Porch: Open, Patio: Open

Total Parking Spaces 21

Private Pool No

Building

Lot Description Curb & Gutter, Fenced: Part, Sidewalks, View: Mountain

Sewer Sewer: Connected

Water Culinary

Structure Type Brick,Cinder Block,Stucco

New Construction No

Construction Status Blt./Standing

Schools

Elementary Schools Westside

High Schools Springville

School District Nebo

Others

Senior Community No

Tax ID 06-012-0009

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Listed by Homes International

Schools and Properties Nearby

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+1(801) 361-3737

sheriboothteam@gmail.com

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28 W 300 S Springville, UT 84663