60 W 300 S, Springville, UT 84663

Property Description

Do NOT Disturb Tenants. Here's your chance to own a 100% occupied, 7-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, 1 single family home, 4 garages fit small to mid-size car, 1 RV garage, 1 storage office, 1 storage garage, 2 sheds plus vacant land. Note: one of the duplexes is a Victorian home legally divided to have an attached apartment-home. Total of 19 bedrooms/ 14 baths (8 full/ 6 at 3/4). With current gross rent over $7,800 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, storage shed rent potentials and review the current leases. All units come with washer, dryer, kitchen 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. Note one duplex has central AC only. There is undeveloped land on parcel which may offer potential for a future income-producing use such as a fourth duplex, subject to city approval and buyer verification. With city approval property may be used as hotel/motel, short term rentals, bed & breakfast Inn or other uses, buyer to verify city requirements and city approved uses. Seller has adjacent parcel for sale MLS #2189137 a 12 plex "the cottages" of Springville. Square footage figures are provided as a courtesy estimate only and were obtained from county records. Buyer is advised to obtain an independent measurement.