Provo Multifamily Investment
For Sale
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460 200 S, Provo, UT 84606
21-unit multifamily property near BYU with value-add potential.
Property Size14,994 SF
Price / SF$293.45
Days on Market208
Property Features for 460 200 S
General Information
Standard status
Active
Size
14,994 SF
Property subtype
Multifamily
Occupancy
100%
Investment Type
Net Lease
Net Operating Income
$215,964
Building Details
Year Built
1978
Buildings
1
Stories
3
Units
21
Listing Agency:
Alliance Realtors
Listed By:
Christine Alleman · License #5492529-SA00
Source:
Crexi
Added: Mar 23
Changed: Oct 14
Last Checked: Oct 14 at 10:25PM
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 Alliance Realtors
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Investment Insights
Based on property information with market context.
This 21-unit multifamily property is located in Provo, featuring a mix of one-bedroom, two-bedroom, and studio units. Many apartments have been updated with new carpet and VLP flooring. A new pitched roof was installed two years ago. The property is located near BYU and Provo’s Center Street, benefiting from rental demand, low vacancy, and annual leases. There is potential for investors to increase value. On-site coin-operated laundry generates additional income. Square footage figures are provided as a courtesy estimate from the Utah County Recorder, and the buyer is advised to obtain an independent measurement. The property is located in Utah County’s rental market.
Key Highlights
- Prime location near BYU and Provo's Center Street ensures consistently low vacancy and strong rental demand.
- Mix of 1‑bedroom, 2‑bedroom, and studio units caters to a broad tenant base.
- New pitched roof (installed two years ago) minimizes near‑term capital expenditures.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$148,227
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,964,540
$3.0M
Cap Rate 7%
$2,117,529
$2.1M
Cap Rate 9%
$1,646,967
$1.6M
Market Conditions
NOI Build-Up for 14,994 SF
Gross rent
$284.3K $18.96/SF
− Vacancy
−$14.8K −$0.99/SF
EGI
$269.5K $17.97/SF
− OpEx
−$121.3K −$8.09/SF
NOI
$148.2K $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%
$2,964,540
Cap Rate 7%
$2,117,529
Cap Rate 9%
$1,646,967
Alternative Uses
Best Use
Apartment 5plus
$2.12M
$1.85M – $2.47M
NOI $148,227 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.14M
$3.62M – $4.82M
NOI $289,471 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,427
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - 21-unit multifamily property near BYU with value-add potential.
Where is this apartment building located?
The property is located at 460 200 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: Prime location near BYU and Provo's Center Street ensures consistently low vacancy and strong rental demand.; Mix of 1‑bedroom, 2‑bedroom, and studio units caters to a broad tenant base.; New pitched roof (installed two years ago) minimizes near‑term capital expenditures.
