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> 4 Units

Active

12Days on Market

$799,900

$244/sqft+3.1%/yrHome values in the 84606 zip code have grown an average of 3.1% per year over the last 5 years.

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About This Property

I'm interested

SIGNIFICANT VALUE-ADD, CASH COW 6-PLEX OPPORTUNITY in Provo, BYU market, with a solid 6.18% cap (as is!) with easy 7%-cap potential simply by increasing rents (which are BELOW MARKET)! Recent rate increase validates the pro forma rent assumptions! Increase the cap to mid or upper 7's by self managing. UPDATED: roof (approximately 6 years ago), kitchens, bathrooms, flooring, fixtures, with recent exterior improvements to paint, siding, & window sealing! Tenants currently enjoy use of a secure, free laundry area in basement of neighboring 6-plex. Additional income opportunity also available through managing utilities differently (units metered separately!). LOCATION: near BYU, with quick access to I-15 & Provo downtown entertainment, restaurants, & shopping. Purchase the neighboring 6-plex (same seller) for operational efficiencies! 5 1-bed units; 1 2-bed unit. Square footage per county records. Buyer/agent to verify all. Do not disturb tenants; offer subject to inspection.

Property Features

Interior Features

Kitchen: Updated,Range/Oven: Free Stdng.

Parking

Parking: Uncovered

Unit Breakdown

Type 1×5

1 bed · 1 bath · Square Feet: 546

$921/mo each

= $4,605/mo

Type 2

2 bed · 1 bath · Square Feet: 546

$975/mo

Total Actual Rent(6 units)

$5,580/mo

Location

Estimated Monthly Payment

$4,691/mo

Down Payment$159,980 (20%)

Principal & Interest$4,057

Property Tax$484/mo

Insurance (est.)$150/mo

Est. Total$4,691/mo

Based on 20% down, 6.529% rate, 30-yr fixed. For estimation only.

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MLS# 2179050• Tax ID: 05-048-0010

Courtesy of Niki R Worthington, Prime Real Estate Experts · nworthingtonrealestate@gmail.com

Property data from UtahRealEstate.com. Home value index from Zillow Research (zillow.com/research/data). Walkability data from Walk Score. Rent estimates from Rentometer. Public records (owner + loan) from the Salt Lake County Recorder; loan rate estimated from FRED's 30-yr average at origination month, balance assumes a 30-yr fixed with no extra payments. Property valuations by Rocco Value. Information deemed reliable but not guaranteed.