Brick Duplex with Covered
For Sale
$615,000
490 S AVERETT Ave, Springville, UT 84663
Residential, Springville, UT
Property Size3,504 SF
Lot Size0.19 Acres
Price / SF$175.51
Days on Market102
Property Features for 490 S AVERETT Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi-Family
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 5, Bedroom 2, Bedroom 6, Bathroom 1, Bedroom 7, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 1
Parking
10
Parking features
Covered, Tandem
Window features
Blinds, Drapes
Interior features
Alarm: Fire, Disposal, Kitchen: Updated, Range/Oven: Free Stdng., Dishwasher: Built-In
Exterior features
Basement Entrance, Double Pane Windows, Entry (Foyer), Out Buildings
Lot features
Fenced: Part, Road: Paved, Sidewalks, Sprinkler: Auto- Part, View: Mountain
Elementary school
Brookside
Middle school
Springville Jr
High school
Springville
Elementary school district
Nebo
Middle school district
Nebo
High school district
Nebo
Subdivision
Provo; Mamth; Springville
Standard status
Active
APN
23-044-0144
Size
3,504 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
2668
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Amenities
shared backyard
Building Details
Year built
1955
Floors in Building
1
Number of units
2
Flooring type
Laminate, Carpet
Building materials
Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Alliance Real Estate, PLLC
(801) 222-9449
Listed By:
Christine Alleman
(801) 687-6596
Added: Jul 7
Changed: Sep 13
Last Checked: Oct 16 at 1:06PM
MLS# 2170180
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Investment Insights
Based on property information with market context.
This duplex at 490 S AVERETT Ave includes 3,504 square feet on a 0.19-acre lot. The brick building was constructed in 1955 and is zoned Multi-Family. Interior features include an updated kitchen, butcher block counters, laminate and carpet flooring, a dishwasher, disposal, freestanding range/oven, central natural-gas heating, and fire alarm service. Double-pane windows and a basement entrance are also included.
The property provides covered tandem parking through a large carport, along with a shared backyard and outbuildings. Public sewer serves the property, and the asphalt roof supports the existing residential configuration. The two units offer multiple bedrooms and bathrooms, with separate living areas and dining-related spaces.
The property provides covered tandem parking through a large carport, along with a shared backyard and outbuildings. Public sewer serves the property, and the asphalt roof supports the existing residential configuration. The two units offer multiple bedrooms and bathrooms, with separate living areas and dining-related spaces.
Key Highlights
- 3,504‑square‑foot duplex on a 0.19‑acre lot
- Multi‑Family zoning
- Brick construction completed in 1955
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,325
Cap Rate
5.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$646,500
$646.5K
Cap Rate 7%
$461,786
$461.8K
Cap Rate 9%
$359,167
$359.2K
Market Conditions
NOI Build-Up for 3,504 SF
Gross rent
$48.4K $13.80/SF
− Vacancy
−$2.2K −$0.62/SF
EGI
$46.2K $13.18/SF
− OpEx
−$13.9K −$3.95/SF
NOI
$32.3K $9.23/SF
Area
Utah County, UT
Vacancy
4.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$646,500
Cap Rate 7%
$461,786
Cap Rate 9%
$359,167
Alternative Uses
Best Use
Multifamily LT 5
$461.8K
$404.1K – $538.8K
NOI $32,325 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$424.6K
$371.5K – $495.4K
NOI $29,722 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$965.9K
$845.2K – $1.13M
NOI $67,613 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
492
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?
Duplex - Two-unit property with updated kitchen details, shared outdoor space, and tandem covered parking.
Where is this duplex located?
The property is located at 490 S AVERETT Ave Springville, UT.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: 3,504‑square‑foot duplex on a 0.19‑acre lot; Multi‑Family zoning; Brick construction completed in 1955
