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About the Listing 70614 - 96541,81428
Fantastic investment opportunity in a corridor with very strong rentability for similar units - Excellent location just minutes from UVU, Frontrunner, the University mall, etc. There are two 4-plex properties for sale, side-by-side, and the seller will only sell both together as a package to one buyer. Both roofs were fully replaced in 2024. The owner is a sweet older lady. She has not kept rents "at market" because she has felt bad raising rents or has given discounts for other reasons. Some tenants have been in the property for over 10 years. Some are related to the owner. Conservative pro-forma rents are $1,250/mo for 7 of the units, and $1,350 for the one that has been remodeled (See marketing brochure) - Total of $121,200 Gross Income Potential once all 8 units re-tenanted. All leases expire in June or July, such that the new owner will be able to reposition every unit to a market rent in a very timely fashion and should be a fairly simple process. You will see in the rent roll all the actual rents at the bottom of the MLS listings. See the attached marketing brochure which demonstrates what market rates are. There is an extra land parcel of significant size on the south part of the property currently a fenced-in grass area. This can potentially be monetized in the future through constructing undercover parking, storage. One unit was remodeled in 2023 for a family member. The rest have simply been maintained with appliances, carpet, furnaces, paint, etc, as needed. Property is sold as-is. Seller not interested in seller financing. Square footage figures are provided as a courtesy estimate only and are not guaranteed. Buyer is advised to obtain an independent measurement
Listing Highlights
Status
Active
Days on Site
47
Property Type
Residential
MLS ®
2150457
Year Built
1968
Total Square Footage
8,272
Lot/Acreage
0.27
County
Utah
School District
Alpine
Elementary School
Hillcrest
Middle School
Lakeridge
High School
Mountain View
Interior Details
- Bedrooms: 16
- Bathrooms: 12 Full
- Appliances: Storage Shed(s)
- Air Cond:
- Heating: Gas: Central
- Fireplaces:
- Floor: Carpet,Laminate,Tile
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: Kitchen: Updated,Range/Oven: Free Stdng.
- Water: Culinary
Exterior Details
- Lot Description: Additional Land Available,Fenced: Part,Road: Paved,Sidewalks,Sprinkler: Auto-Full,View: Mountain
- Garage Capacity: N/A
- Parking Spaces: 16
- Lot Dimensions: 0.0x0.0x0.0
- Zoning: Multi-Family
- Roof: Asphalt
- Others: Entry (Foyer),Blt./Standing
- Sewer: Sewer: Connected
- Parking Features: Parking: Uncovered
Financial Details
- Tax Amount: $3,943
- Taxes w/Assessments: N/A
- Tax/Property ID: 19-003-0093
- Tax Year: N/A
Payment Calculator
Monthly Payment
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Questions About..
840 E 1550 S Orem, UT 84097
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