389 W 500 S, Provo, UT 84601
- Added:
- Sep 4, 2025
- Days on Market:
- 297
- Last Refresh:
- Jun 27 at 4:06 pm
Property Features for 389 W 500 S
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Single-Family, Multi-Fami
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 4, Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 3
- Parking
- 8
- Patio and Porch features
- Patio, Porch
- Interior features
- Disposal, Kitchen: Second, Mother-in-Law Apt., Range: Gas, Range/Oven: Free Stdng., Dishwasher: Built-In
- Exterior features
- Balcony, Basement Entrance, Entry (Foyer), Patio: Covered, Porch: Open
- Standard status
- Active
- APN
- 04-004-0017
- Size
- 5,008 SF
- Lot size
- 0.31 Acres
Taxes and HOA fees
- Tax Annual Amount
- 7235
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air, Central
Building Details
- Year built
- 1884
- Number of units
- 2
- Flooring type
- Vinyl, Tile, Carpet
- Building materials
- Brick
- Roof type
- Asphalt
- Additional Structures
- Other
Listing agent Kenny Parcell License #5469176 (801) 794-7777
Listing office Equity Real Estate (Utah) 648 N 900 E #9, Ogden, UT (801) 794-7777
Listing date Sep 4, 2025
Copyright © 2026 UtahRealEstate.com. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Provo duplex currently set up as 2 units, with potential to add 2 more upstairs
- Includes a second kitchen setup and a mother‑in‑law apt.
- Gas range with free‑standing range/oven, built‑in dishwasher, and disposal
- Exterior features include a balcony, covered patio, and open porch, plus a basement entrance
- Brick construction with asphalt roof and mixed flooring (vinyl, tile, and carpet)
- Natural gas forced‑air central heating; served by public sewer; built in 1884
Overview
Located in Provo, Utah (Utah County) at 389 W 500 S, the property sits on a 0.31-acre lot. The site is listed under zoning described as Single-Family, Multi-Fami, which aligns with residential income use. With a total property size of 5,008 square feet, this is a compact, manageable asset that can appeal to owner-operators and investors seeking a duplex format with growth potential.
The best fit is likely an investor prepared for an interior buildout or reconfiguration of the upstairs level to realize the additional-unit upside described in the listing. It may also appeal to buyers who want to start with a two-unit operation while planning phased improvements, rather than waiting on a new-build multifamily purchase. If you’re looking for a duplex with built-in expansion options, this property is positioned to match that strategy.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $81.1k | $16.20 |
| − Vacancy | −$4.0k | −$0.80 |
| EGI | $77.1k | $15.40 |
| − OpEx | −$23.1k | −$4.62 |
| NOI | $54.0k | $10.78 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Provo
- County
- Utah
- State
- Utah
- Longitude
- -111.665384
- Latitude
- 40.226817
