24-Unit Student Apartment
For Sale
$6,900,000
1130 S Cedar Knolls, Cedar City, UT 84720
MultiFamily, Cedar City, UT
Property Size33,264 SF
Lot Size1.73 Acres
Price / SF$207.43
Days on Market423
Property Features for 1130 S Cedar Knolls
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi-Family
Elementary school
Out of Area
Middle school
Out of Area
High school
Out of Area
Subdivision
Outside Area
Standard status
Active
APN
See Private Remarks
Size
33,264 SF
Lot size
1.73 Acres
Taxes and HOA fees
Tax Annual Amount
12100
Utilities
Heating system
Natural Gas
Cooling system
Central Air
Building Details
Year built
2018
Floors in Building
3
Number of units
24
Roof type
Asphalt
Listing Agency:
Stratum Real Estate Group So Branch
(435) 586-4874
Listed By:
Jesse Guy Carter · License #8651453-SA00
(435) 590-0798
Added: Aug 20, 2025
Changed: Aug 31
Last Checked: Oct 16 at 7:06PM
MLS# 25-264208
Copyright © 2026 Washington County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 24-unit student apartment property includes two three-story buildings completed in 2018, totaling 33,264 square feet and 96 bedrooms. Each apartment is configured with four bedrooms, 2.5 bathrooms, a kitchen, living and dining areas, and laundry facilities. The property uses natural gas heating, central air conditioning, and asphalt roofing. On-site parking includes 125 stalls across the 1.73-acre property.
The buildings are located approximately 1 mile from the SUU campus in Cedar City, Utah. The current student-housing configuration and private-bedroom layout support the property's established residential use. Utilities are currently paid by the landlord.
The buildings are located approximately 1 mile from the SUU campus in Cedar City, Utah. The current student-housing configuration and private-bedroom layout support the property's established residential use. Utilities are currently paid by the landlord.
Key Highlights
- 24 units across two three‑story apartment buildings
- 96 total bedrooms with four‑bedroom, 2.5‑bath apartment layouts
- 33,264 square feet on 1.73 acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$274,560
Cap Rate
3.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,491,200
$5.5M
Cap Rate 7%
$3,922,286
$3.9M
Cap Rate 9%
$3,050,667
$3.1M
Market Conditions
NOI Build-Up for 33,264 SF
Gross rent
$518.9K $15.60/SF
− Vacancy
−$19.7K −$0.59/SF
EGI
$499.2K $15.01/SF
− OpEx
−$224.6K −$6.75/SF
NOI
$274.6K $8.25/SF
Area
Iron County, UT
Vacancy
3.80%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,491,200
Cap Rate 7%
$3,922,286
Cap Rate 9%
$3,050,667
Alternative Uses
Best Use
Apartment 5plus
$3.92M
$3.43M – $4.58M
NOI $274,560 @ 7.0% cap · market cap 3.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.79M
$5.94M – $7.93M
NOI $475,546 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
24
Residential units
Location Intelligence
Trade Area within ½ mile
672
Businesses Nearby
Explore this area
Business Placement
Demographics for 84720, UT
23,607
Population
8,984
Households
2.6
Avg Household Size
28
Median Age
35%
College-Educated
95%
High-School Grad
341.5 sq mi
ZIP Area
69
Density / Sq Mi
$63,742
Median Household Income
$29,979
Median Earnings
$932
Median Rent
$357,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Two modern residential buildings offer private-bedroom layouts with shared kitchens, living areas, dining spaces, and laundry facilities.
Where is this apartment building located?
The property is located at 1130 S Cedar Knolls Cedar City, UT.
What is the asking price?
The asking price for this property is $6,900,000.
What are key features of this property?
This property features: 24 units across two three‑story apartment buildings; 96 total bedrooms with four‑bedroom, 2.5‑bath apartment layouts; 33,264 square feet on 1.73 acres
