Updated 6-Unit Apartment
New
For Sale
$1,189,900
2091 S Nevada Ave, Provo, UT 84606
Renovated interiors, updated air-conditioning units, and recently added fire-suppression irrigation serve this multifamily property.
Property Size4,936 SF
Price / SF$241.07
Days on Market3
Property Features for 2091 S Nevada Ave
General Information
Standard status
Active
Size
4,936 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Provost South
Highway Access
Yes
Additional Details
Gross Income
$84,000
Multifamily Units
6
Tenant in Place
Yes
Building Details
Year Built
1977
Listing Agency:
Green Valley Brokers
Listed By:
The One Group Utah
(385) 350-2888
Source:
Theonegrouputah
Added: Oct 26
Changed: Oct 27
Last Checked: Oct 28 at 7:56AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Green Valley Brokers
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Investment Insights
Based on property information with market context.
This six-unit apartment property contains 4,936 square feet and was built in 1977. Updates include carpet, paint, air-conditioning units, a replacement roof, and several appliances; some apartments received full remodels within the past year. A recently installed automatic sprinkler system serves the grounds, and exterior railings and steps are being updated or replaced. The rental agreements are month-to-month.
The property is at 2091 S Nevada Ave in Provo, near BYU and I-15. Mountain and valley views are also noted.
The property is at 2091 S Nevada Ave in Provo, near BYU and I-15. Mountain and valley views are also noted.
Key Highlights
- Six apartment units in a 4,936‑square‑foot building
- Built in 1977
- Some units fully remodeled within the past year
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,796
Cap Rate
4.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$975,920
$975.9K
Cap Rate 7%
$697,086
$697.1K
Cap Rate 9%
$542,178
$542.2K
Market Conditions
NOI Build-Up for 4,936 SF
Gross rent
$93.6K $18.96/SF
− Vacancy
−$4.9K −$0.99/SF
EGI
$88.7K $17.97/SF
− OpEx
−$39.9K −$8.09/SF
NOI
$48.8K $9.89/SF
Area
Provo, UT
Vacancy
5.20%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$975,920
Cap Rate 7%
$697,086
Cap Rate 9%
$542,178
Alternative Uses
Best Use
Apartment 5plus
$697.1K
$610.0K – $813.3K
NOI $48,796 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,293 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
233
Businesses Nearby
Explore this area
Business Placement
Demographics for 84606, UT
33,791
Population
11,428
Households
3
Avg Household Size
25
Median Age
45%
College-Educated
95%
High-School Grad
11.6 sq mi
ZIP Area
2,913
Density / Sq Mi
$52,110
Median Household Income
$14,955
Median Earnings
$1,149
Median Rent
$407,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated interiors, updated air-conditioning units, and recently added fire-suppression irrigation serve this multifamily property.
Where is this apartment building located?
The property is located at 2091 S Nevada Ave Provo, UT.
What is the asking price?
The asking price for this property is $1,189,900.
What are key features of this property?
This property features: Six apartment units in a 4,936‑square‑foot building; Built in 1977; Some units fully remodeled within the past year
