Active

339 W 100 S #1-4

Springville UT, 84663

$950,000


$260.42 per sqft

Active

8 Beds

4 Baths

3,648 sqft

Multi-family

Built in 1976

**Request marketing brochure from listing agent for easily printable details - Also, can find attached in documents on the MLS** Property includes 4 units, each 2 bed 1 bath. R1-5 zoning with approval for multi-housing. Scheduled Gross Income is $63,000/year ($1,200/mo per unit for each of 2 units + $1,100/mo for 3rd unit ($100/mo reduction for this tenant helping with landscape/snow removal) + $1,250/mo for 4th unit + assumed $600/mo from garage/storage units, although landlord has not actively sought to find tenants to the units). 4-plex units are 912 SqFt. All units have been completely remodeled. Brand new furnaces, AC Units, water heaters, cabinets, solid surface counters, sinks, fixtures, windows and blinds, refrigerator and oven range, tub/shower, doors, LVP flooring, and new texture and paint. Each unit has a washer/dryer hookup. Each unit comes with a small outside storage shed ..... The property comes with 5, 12' x 29' wide garage storage units, and 1, 19' x 29' unit. Commercial storage us is currently non-conforming, meaning city only approves renting the garages to a tenant living in one of the two on-site 4-plexes. Owner owns the 6 east garage units (Owner of adjacent 4-plex owns the west 4 garage units). Seller estimates rents of $100/mo for smaller units and $150/mo for larger units (For Pro-forma, we are estimating average of $600/mo rent from these - seller has not pushed to rent them because of city guidelines for who can rent them, and only one unit is currently rented at $150/mo), with significant increases is roof is replaced/repaired and power garage openers are added. Owner pays for water & sewer (only one meter for theses). Storage units also only have one meter, so owner has been paying for any minimal electrical on those. Tenant pays for electrical and garbage through Springville City, and gas through Dominion. Each unit is separately metered ..... Landlord just completed remodel, and has 2, almost 3 of the 4 units already leased up. Very easy to show 4th unit - All are the same.

1987789

MLS ID

March 20, 2024

Listed

May 16, 2024

Updated

Map

339 W 100 S #1-4
Springville UT, 84663

Interior Features

Total Stories

0


Bedrooms

8


Total Bathrooms

4


Interior Features

Range/Oven: Free Stdng


Fireplace

No


Cooling

No


Heating

Yes


Heating Description

Gas: Central

Exterior/Building Features

Lot Size

0.39 Acres


Architectual Style

Stories: 2


Roof

Asphalt


Sewer

Sewer: Connected

School Information

School District

Nebo


High School

Springville


Elementary School

Westside

Other Property Details

Area Name

Provo; Mamth; Springville


Taxes

$4,048


Tax Frequency

Annually


Days on Market

55


Garage

Yes


Garage Spaces

12


Parking Total

18


View

No


County

Utah


Pool

No


Buyer Agency Compensation

3%

Listing History

Date

Event

Price

5/15/2024

Price Change

$950,000

-10%

Courtesy of Core Utah Real Estate

Based on information from the Wasatch Front Regional Multiple Listing Service, Inc. as of 12:37 PM UTC, 5/16/2024. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or the MLS. All information deemed reliable but not guaranteed and should be independently verified. Properties may or may not be listed by the office/agent presenting the information. The information provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Peter Morkel shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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