12-Unit Apartment
For Sale
$2,100,000
251 E 300 S, Springville, UT 84663
Residential, Springville, UT
Property Size8,957 SF
Lot Size0.60 Acres
Price / SF$234.45
Days on Market189
Property Features for 251 E 300 S
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
12
Bathrooms
12
Full bathrooms
12
Rooms
Bathroom 12, Bedroom 9, Bedroom 6, Bedroom 4, Bedroom 3, Bathroom 5, Bathroom 6, Bedroom 10, Bathroom 11, Bathroom 8, Bedroom 2, Bathroom 7, Bathroom 1, Bathroom 4, Bedroom 1, Bedroom 7, Bedroom 5, Bathroom 2, Bedroom 11, Bedroom 12, Bathroom 3, Bathroom 10, Bathroom 9, Bedroom 8
Elementary school
None/Other
Middle school
None/Other
High school
None/Other
Subdivision
Provo; Mamth; Springville
Standard status
Active
APN
06-015-0003
Size
8,957 SF
Lot size
0.60 Acres
Taxes and HOA fees
Tax Annual Amount
7931
Amenities
onsite storage
Building Details
Year built
1914
Floors in Building
3
Number of units
12
Architectural style
Other
Listing Agency:
Equity Real Estate (Results)
(801) 610-9394
Listed By:
Stephanie Lewis
(801) 592-2558
Added: Apr 12
Changed: Oct 16
Last Checked: Oct 17 at 7:06PM
MLS# 2151603
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.
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Investment Insights
Based on property information with market context.
Built in 1914, this 8,957-square-foot apartment property contains 12 units: eleven one-bedroom apartments and one studio. The site also includes 12 onsite storage units and spans 0.6 acres.
The property is at 251 E 300 S in Springville, Utah.
The property is at 251 E 300 S in Springville, Utah.
Key Highlights
- 12 apartments: eleven one‑bedroom units and one studio
- 12 onsite storage units
- 8,957 square feet on a 0.6‑acre site
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,976
Cap Rate
3.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,519,520
$1.5M
Cap Rate 7%
$1,085,371
$1.1M
Cap Rate 9%
$844,178
$844.2K
Market Conditions
NOI Build-Up for 8,957 SF
Gross rent
$145.1K $16.20/SF
− Vacancy
−$7.0K −$0.78/SF
EGI
$138.1K $15.42/SF
− OpEx
−$62.2K −$6.94/SF
NOI
$76.0K $8.48/SF
Area
Utah County, UT
Vacancy
4.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,519,520
Cap Rate 7%
$1,085,371
Cap Rate 9%
$844,178
Alternative Uses
Best Use
Apartment 5plus
$1.09M
$949.7K – $1.27M
NOI $75,976 @ 7.0% cap · market cap 3.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.47M
$2.16M – $2.88M
NOI $172,834 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
849
Businesses Nearby
Explore this area
Business Placement
Demographics for 84663, UT
35,647
Population
11,025
Households
3.2
Avg Household Size
29
Median Age
39%
College-Educated
95%
High-School Grad
109.7 sq mi
ZIP Area
325
Density / Sq Mi
$88,919
Median Household Income
$39,439
Median Earnings
$1,475
Median Rent
$430,600
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 - The residential mix includes one-bedroom apartments, a studio, and dedicated onsite storage.
Where is this apartment building located?
The property is located at 251 E 300 S Springville, UT.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 12 apartments: eleven one‑bedroom units and one studio; 12 onsite storage units; 8,957 square feet on a 0.6‑acre site
