1180 S COVE VIEW RD Active Save Request In-Person Tour Request Virtual Tour
Richfield,UT 84701
Key Details
Property Type Multi-Family
Sub Type > 4 Units
Listing Status Active
Purchase Type For Sale
Square Footage 13,920 sqft
Price per Sqft $179
MLS Listing ID 2053214
Style Stories: 1
Bedrooms 14
Construction Status Blt./Standing
HOA Y/N No
Year Built 1947
Annual Tax Amount $5,635
Lot Size 1.240 Acres
Acres 1.24
Lot Dimensions 0.0x0.0x0.0
Property Description
Prime investment opportunity in Richfield, Utah! This 20-unit multi-family complex is situated in a rapidly growing area, thanks to Snow College's expanding presence and the region's strong economic development. Recently remodeled from a former hotel into modern apartments, the property offers significant upside potential with 13 of the 20 units currently leased. Conveniently located in an up-and-coming part of town, tenants enjoy proximity to Walmart, Home Depot, Snow College, Richfield High School, and quick freeway access. This property is priced at an attractive 7% cap rate and comes with the added benefit of a professional property manager with a stellar track record of overseeing 150+ doors in the Richfield area. The property manager is eager to stay on and continue leasing the remaining units while ensuring smooth operations for this turnkey investment. With strong rental demand fueled by Snow College's growth and a desirable location, this property presents an exceptional opportunity for seasoned and new investors alike. Don't miss your chance to secure this high-potential asset in the thriving Richfield market.
Location
State UT
County Sevier
Area Central Sevier
Zoning Multi-Family, Commercial
Interior
Interior Features Disposal,Range/Oven: Built-In
Heating Electric
Flooring Tile
Inclusions Ceiling Fan, Microwave, Range, Refrigerator
Fireplace false
Window Features Blinds
Exterior
Exterior Feature Double Pane Windows,Porch: Open,Storm Doors
Utilities Available Natural Gas Connected,Electricity Connected,Sewer Connected,Water Connected
View Y/N Yes
View Mountain(s)
Roof Type Asphalt
Present Use Residential
Topography Terrain, Flat, View: Mountain
Porch Porch: Open
Total Parking Spaces 60
Private Pool false
Building
Lot Description View: Mountain
Sewer Sewer: Connected
Water Culinary
Structure Type Brick
New Construction No
Construction Status Blt./Standing
Schools
Elementary Schools Ashman
Middle Schools Red Hills
High Schools Richfield
School District Sevier
Others
Senior Community No
Tax ID 1-7A-22
Acceptable Financing Cash,Conventional
Horse Property No
Listing Terms Cash,Conventional