379 500 Provo, UT 84606
- Dormitories
- 2,510 SF
- 0.17 lot acres
Current Use by Public Records
- Dormitories
Property Details for 379 500
- Year built
- 1923
- Lot size
- 0.17 lot acres
- Property size
- 2,510 SF
- Property type
- Dormitories
- Property subtype
- Student housing
- APN
- 05-063-0021
Description
This exceptional Provo, UT investment opportunity presents a fully occupied, six-bedroom student housing property near Brigham Young University. The 2,510 square foot property, built in 1923 and renovated in 2020, sits on a 0.17-acre lot and includes two buildings, each one story. Currently generating a Net Operating Income (NOI) of $37,920, representing a 5.42% cap rate, the property boasts 100% occupancy with six individual rooms, each currently rented at $560 per month. The property features three one-car garages, additional carport parking, and a 240 square foot covered patio (not included in the square footage). Recent upgrades include new cabinets, countertops, and a dishwasher. The property is fully furnished and turnkey, offering immediate rental income. With potential for rent increases to $600 per month per room, this presents a strong return on investment. The property's address is 379 N 500 E, Provo, UT 84606, and the APN is 05-063-0021. This offering is suitable for a 1031 exchange. The asking price is $700,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Provo
- County
- Utah
- State
- Utah
- Longitude
- -111.650346
- Latitude
- 40.238717
