Student Housing Near Southern
For Sale
$3,699,000
119 N 800 W, Cedar City, UT 84720
MULTI_FAMILY - Cedar City, UT
Property Size18,618 SF
Lot Size0.44 Acres
Price / SF$198.68
Days on Market305
Property Features for 119 N 800 W
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi-Family
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 1
Elementary school
Out of Area
Middle school
Out of Area
High school
Out of Area
Subdivision
Outside Area
Standard status
Active
APN
B-0118-0000-0000
Size
18,618 SF
Lot size
0.44 Acres
Taxes and HOA fees
Tax Annual Amount
8959
Utilities
Heating system
Natural Gas
Cooling system
Central Air
Building Details
Year built
2018
Floors in Building
3
Number of units
60
Roof type
Asphalt
Listing Agency:
ERA Realty Center
(435) 586-2777
Listed By:
Jennifer Davis · License #5458788-AB
(435) 590-1317
Added: Oct 9, 2025
Changed: Jun 29
Last Checked: Aug 9 at 2:06PM
MLS# 25-265854
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.
Investment Insights
Based on property information with market context.
This multi-family property, located one block from Southern Utah University in Cedar City, Utah, is a 60-bedroom student housing complex. The property contains 10 living spaces, each equipped with 6 private bedrooms and 6 private bathrooms. Each unit also includes 2 full kitchens, each with dual refrigerators, as well as 2 washers and 2 dryers. The building has a total area of 18618 square feet and is situated on a 0.44-acre lot. The property is designed to accommodate multiple tenants, offering privacy and comfort. Its proximity to the university ensures strong rental demand and minimal vacancy rates. This property offers immediate income potential and long-term appreciation in a thriving university town.
Key Highlights
- Prime location one block from Southern Utah University (SUU), ensures high demand from students.
- High‑occupancy design with 60 private bedrooms and 60 private bathrooms maximizes individual tenant comfort.
- Fully equipped units: Each of the 10 living spaces includes 2 full kitchens with dual refrigerators, and 2 washers & 2 dryers.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$153,672
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.15%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,073,440
$3.1M
Cap Rate 7%
$2,195,314
$2.2M
Cap Rate 9%
$1,707,467
$1.7M
Market Conditions
NOI Build-Up for 18,618 SF
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.
Gross rent
$290.4K $15.60/SF
− Vacancy
−$11.0K −$0.59/SF
EGI
$279.4K $15.01/SF
− OpEx
−$125.7K −$6.75/SF
NOI
$153.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,073,440
Cap Rate 7%
$2,195,314
Cap Rate 9%
$1,707,467
Alternative Uses
Best Use
Apartment 5plus
$2.20M
$1.92M – $2.56M
NOI $153,672 @ 7.0% cap · market cap 4.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.80M
$3.33M – $4.44M
NOI $266,165 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
752
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 60-bed, 60-bath apartment complex near Southern Utah University.
Where is this apartment building located?
The property is located at 119 N 800 W Cedar City, UT.
What is the asking price?
The asking price for this property is $3,699,000.
What are key features of this property?
This property features: Prime location one block from Southern Utah University (SUU), ensures high demand from students.; High‑occupancy design with 60 private bedrooms and 60 private bathrooms maximizes individual tenant comfort.; Fully equipped units: Each of the 10 living spaces includes 2 full kitchens with dual refrigerators, and 2 washers & 2 dryers.
