For Sale
$700,000

379 500Provo, UT 84606

6-Bed Turnkey Student Housing, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional Provo, UT investment opportunity presents a fully occupied, six-bedroom student housing property near Brigham Young University. The 2,510 square foot property, built in 1923 and renovated in 2020, sits on a 0.17-acre lot and includes two buildings, each one story. Currently generating a Net Operating Income (NOI) of $37,920, representing a 5.42% cap rate, the property boasts 100% occupancy with six individual rooms, each currently rented at $560 per month. The property features three one-car garages, additional carport parking, and a 240 square foot covered patio (not included in the square footage). Recent upgrades include new cabinets, countertops, and a dishwasher. The property is fully furnished and turnkey, offering immediate rental income. With potential for rent increases to $600 per month per room, this presents a strong return on investment. The property's address is 379 N 500 E, Provo, UT 84606, and the APN is 05-063-0021. This offering is suitable for a 1031 exchange. The asking price is $700,000.

Highlights

  • $700,000 asking price for this Provo, UT student housing property.
  • Multifamily, special purpose property with 6 bedrooms in 1 unit.
  • 5.42% cap rate with a $37,920 NOI and 100% occupancy.
  • 2,510 square feet on a 0.17-acre lot, with two buildings and three 1-car garages.
  • Built in 1923 and renovated in 2020, located near BYU.
  • 1031 exchange eligible.

Property Details for 379 500

Property type
Specialty properties, Dormitories
Square Feet
2,510 SF
Year Built/Renovated
1923/2020
Buildings
2
Stories
1
Lot Size (sq. ft)
7,405 SF
Units
1

Location Insight

City
Provo
County
Utah
State
Utah
Latitude
40.238717
Longitude
-111.650346
379 500, Provo, Utah

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379 500
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