7-Unit Multifamily
New
For Sale
$1,700,000
60 W 300 S, Springville, UT 84663
All seven residences are occupied, with a mix of duplexes and a detached single-family home.
Property Size8,436 SF
Price / SF$201.52
Days on Market3
Property Features for 60 W 300 S
General Information
Standard status
Active
Size
8,436 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
7
Building Details
Year Built
1900
Listing Agency:
Equity Real Estate
Listed By:
Belknap Team
(385) 352-6210
Source:
Forsaleutahrealestate
Added: Oct 4
Changed: Oct 6
Last Checked: Oct 5 at 6:49PM
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 Equity Real Estate
Investment Insights
Based on property information with market context.
This multifamily property contains seven residences across three duplexes and one single-family home, including a Victorian house legally configured with an attached apartment. The property totals 8,436 square feet and dates to 1900. In all, the units have 19 bedrooms and 14 bathrooms: eight full baths and six three-quarter baths. Four garages accommodate small- to mid-size cars, with an additional RV garage, storage office, storage garage, two sheds, and undeveloped land. Unit appliances include a washer, dryer, refrigerator, range, and dishwasher; air conditioning is provided by window units, except for one duplex with central air.
The property is just off Main Street in Springville, between southern Provo and Spanish Fork. All seven units are occupied. Leases are month-to-month except for two units. The parcel also includes vacant land; any future development or alternative use would require applicable city approval and buyer verification.
The property is just off Main Street in Springville, between southern Provo and Spanish Fork. All seven units are occupied. Leases are month-to-month except for two units. The parcel also includes vacant land; any future development or alternative use would require applicable city approval and buyer verification.
Key Highlights
- Seven occupied residences: three duplexes and one single‑family home
- 19 bedrooms and 14 bathrooms, including eight full and six three‑quarter baths
- Four garages for small- to mid‑size cars, plus an RV garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,825
Cap Rate
4.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,556,500
$1.6M
Cap Rate 7%
$1,111,786
$1.1M
Cap Rate 9%
$864,722
$864.7K
Market Conditions
NOI Build-Up for 8,436 SF
Gross rent
$116.4K $13.80/SF
− Vacancy
−$5.2K −$0.62/SF
EGI
$111.2K $13.18/SF
− OpEx
−$33.4K −$3.95/SF
NOI
$77.8K $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%
$1,556,500
Cap Rate 7%
$1,111,786
Cap Rate 9%
$864,722
Alternative Uses
Best Use
Multifamily LT 5
$1.11M
$972.8K – $1.30M
NOI $77,825 @ 7.0% cap · market cap 4.58%
Second Best
Apartment 5plus
$1.02M
$894.5K – $1.19M
NOI $71,557 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$2.33M
$2.03M – $2.71M
NOI $162,781 @ 7.0% cap · market cap 9.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
7
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
848
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Multifamily property - All seven residences are occupied, with a mix of duplexes and a detached single-family home.
Where is this multifamily property located?
The property is located at 60 W 300 S Springville, UT.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Seven occupied residences: three duplexes and one single‑family home; 19 bedrooms and 14 bathrooms, including eight full and six three‑quarter baths; Four garages for small- to mid‑size cars, plus an RV garage
