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    460 E 200 S Provo, UT 84606

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    Sponsored
    For Sale
    $4,400,000

    MULTI_FAMILY - Other - Provo, UT

    Property size:
    14,994 SF
    Lot size:
    0.46 Acres
    Days on Market:
    1
    Last Refresh:
    Mar 8 at 6:06 am

    Property Features for 460 E 200 S

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Window features
    Drapes, Blinds
    Zoning
    Multi-Family
    Rooms
    Bedroom 1, Bathroom 18, Bathroom 11, Bedroom 13, Bathroom 1, Bathroom 15, Bedroom 12, Bathroom 10, Bathroom 3, Bathroom 14, Bedroom 21, Bedroom 5, Bathroom 17, Bathroom 2, Bedroom 20, Bathroom 9, Bathroom 12, Bedroom 11, Bathroom 21, Bedroom 18, Bathroom 20, Bathroom 6, Bedroom 24, Bathroom 4, Bedroom 19, Bathroom 8, Bedroom 3, Bedroom 16, Bathroom 19, Bedroom 4, Bedroom 25, Bedroom 28, Bedroom 7, Bedroom 26, Bedroom 23, Bedroom 27, Bedroom 8, Bedroom 10, Bedroom 6, Bathroom 16, Bedroom 17, Bedroom 9, Bathroom 5, Bedroom 22, Bedroom 15, Bathroom 7, Bedroom 14, Bathroom 13, Bedroom 2
    Bedrooms
    28
    Bathrooms
    21
    APN
    05-051-0017
    Parking
    23
    Patio and Porch features
    Patio
    Interior features
    Closet: Walk-In, Disposal, Floor Drains, Kitchen: Updated, Range/Oven: Free Stdng.
    Exterior features
    Balcony, Double Pane Windows, Patio: Open
    Size
    14,994 SF
    Lot size
    0.46 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Central, Natural Gas, Electric (Heating)

    Building Details

    Year built
    1978
    Floors in Building
    3
    Number of units
    21
    Flooring type
    Tile, Laminate, Vinyl, Carpet
    Building materials
    Brick
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Christine Alleman
    Christine Alleman

    Alliance Real Estate (801) 687-6596

    Listing agent Christine Alleman (801) 222-9449

    Listing date Mar 8, 2026

    MLS# 2141826 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    21-Unit Apartment Complex in Provo

    This attractive 21-unit apartment complex in Provo, Utah, features a mix of 1-bedroom, 2-bedroom, and studio units. Many units have been refreshed with new carpet and VLP flooring. A new pitched roof was installed two years ago. The property is ideally located near BYU and Center Street, benefiting from strong rental demand, low vacancy, and stable yearly leases. There is potential for rent growth, and on-site coin-operated laundry provides additional income. The property size is 14994 square feet and the lot size is 0.46 acres. The zoning is Multi-Family. Square footage figures are provided as a courtesy estimate only and were obtained from Utah County Recorder. Buyer is advised to obtain an independent measurement.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Maeser Place Apartments Apartment Building

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Provo
    County
    Utah
    State
    Utah
    Longitude
    -111.650682
    Latitude
    40.230718

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    FAQs

    What type of property is this?
    Apartment building - Well-maintained apartment complex near BYU with income potential.
    Where is this apartment building located?
    The property is located at 460 E 200 S Provo, UT.
    What is the asking price?
    The asking price for this property is $4,400,000.
    What are key features of this property?
    This property features: - Strong rental demand and low vacancy due to ideal location near BYU and Center Street.; - 21-unit apartment complex with a mix of 1, 2, and studio units.; - New pitched roof installed two years ago, ensuring long-term durability.
    (801) 687-6596
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    460 E 200 S Provo, UT 84606
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    We can help!
    Listing Contact
    Christine Alleman
    Christine Alleman
    (801) 687-6596 (801) 222-9449
    Learn more
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