270 600 Richfield, UT 84701

Property Details for 270 600

Year built

1978

Lot size

0.28 lot acres

Property size

3,360 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a well-maintained, four-unit apartment building located at 270 W 600 S in Richfield, Utah, zip code 84701. The property, built in 1978, sits on a 0.28-acre lot and boasts a total of 3,360 square feet across two stories. Currently operating at 100% occupancy (excluding brief remodel periods), this property offers immediate income generation. The lower two units have recently undergone complete renovations, including new kitchens, flooring, paint, cabinets, bathrooms, and energy-efficient mini-split heat pumps. The upper two units feature long-term tenants (five+ years each), providing stability and consistent rental income. The asking price is $879,000. City water expenses ($220/month for all four units) and landscaping are covered by the landlord, minimizing management hassles. Located near Main Street and all schools, this property benefits from a strong rental market demand, particularly for student housing, presenting significant potential for future rental income growth. This turnkey investment is ideal for both seasoned and new investors seeking a stable and profitable addition to their portfolio. The property's strong tenancy and recent renovations ensure a hassle-free transition for the new owner. This is a rare opportunity to acquire a high-performing multifamily property in a thriving college town.