$ 350,000
-
$350,000
Price -
3
Bed -
2
Bath -
1,400
SqFt
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About the Listing 71588 - 4024275,0
Cap rate over 5%!!! INVESTORS or parents of students headed to SUU for school, take a look! Turnkey investment opportunity in the Cedar City! This home boasts a current cap rate of over 5% with current business model, year-round income potential. Built in 2023, this like-new 3-bedroom, 2-bath townhome offers approximately 1,400 sq ft and is perfectly positioned for investors seeking strong cash flow and multiple rental strategies. Currently operating as a furnished short-term summer rental and school year student housing property, this property benefits from Cedar City's growing tourism, thriving arts scene, and nearly 10,000-student university population. Targeted for Airbnb, vacation rental, and Southern Utah University student housing, Visitors are drawn year-round by nearby national parks, Brian Head ski resort, world-class hiking, dark-sky stargazing, and the renowned Utah Shakespeare Festival, which welcomes over 100,000 visitors annually. The current owners have already built a successful turnkey system for the next investor, with more than 20 summer bookings currently on the calendar and over 30 five-star Airbnb reviews. Everything is already in place, including the Airbnb listing and online presence, professional cleaners, student housing lease agreements ready for signatures, and student cleaning documents, making for a seamless transition and immediate income opportunity. Inside, you'll find durable LVP flooring, quartz countertops, smart locks, modern finishes, and a functional open layout designed for low-maintenance ownership. The property is fully furnished for both students and short term renters and ready for immediate rental income. Additional features include two walk in closets, basement crawl space storage and a spacious two-car garage. Conveniently located near SUU, shopping, dining, and entertainment, with easy access to national parks, only 30 minutes to ski resorts, 15 minutes to Kanarra falls, 20 minutes to west entrance of Zions and approximately 45 minutes to St. George. Whether you're expanding your portfolio, seeking a 1031 exchange opportunity, or entering the short-term rental market, this property offers flexibility, location, and proven income potential.
Listing Highlights
Status
Active
Days on Site
22
Property Type
Condo/Townhome
MLS ®
2156355
Year Built
2023
Total Square Footage
1,400
Lot/Acreage
1045
County
Iron
Neighborhood
Old Sorrel Townhomes Pud
HOA Dues
150/Monthly
School District
Iron
Elementary School
North
Middle School
Cedar Middle School
High School
Cedar
Interior Details
- Bedrooms: 3
- Bathrooms: 2 Full
- Appliances: Dryer, Microwave, Range Hood, Refrigerator, Washer, Alarm System,Window Coverings
- Air Cond: Central Air
- Heating: Forced Air,Gas: Central
- Fireplaces:
- Floor: Carpet
- Above Ground Sq Ft: 1400
- Below Ground Sq Ft: n/a
- Basement:
- Other: Alarm: Fire,Bath: Primary,Closet: Walk-In,Disposal,Great Room,Range: Gas,Range/Oven: Free Stdng.,Video Door Bell(s),Video Camera(s),Smart Thermostat(s)
- Water: Culinary
Exterior Details
- Lot Description: Road: Paved,Sidewalks,Sprinkler: Auto-Full,View: Mountain,View: Red Rock
- Garage Capacity: 2 car
- Parking Spaces: 4
- Lot Dimensions: 0.0x0.0x0.0
- Zoning: R-3
- Roof: Asphalt
- Others: Double Pane Windows,Blt./Standing
- Sewer: Sewer: Connected
Financial Details
- Tax Amount: $1,750
- Taxes w/Assessments: N/A
- Tax/Property ID: B-1857-1044-0000
- Tax Year: N/A
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Questions About..
529 S May Dr Cedar City, UT 84720
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