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339 W 100 S , 1-4

Springville, UT 84663
  • $950,000
  • STATUS: Active Under Contract
  • ON SITE: 62 Days
  • ID#: 1987789
Under Contract
UPDATED: 123 min ago
$950,000
  • 8
    BEDS
  • 0.39
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
  • 3,648
    SQFT
  • $260
    $/SQFT
Type:
Multi-Family
Built:
1976
County:

School Information

Elementary School:
Middle School:
High School:
School District:

Description

**Request marketing brochure from listing agent for easily printable details - Also, can find attached in documents on the MLS** Property includes 4 units, each 2 bed 1 bath. R1-5 zoning with approval for multi-housing. Scheduled Gross Income is $63,000/year ($1,200/mo per unit for each of 2 units + $1,100/mo for 3rd unit ($100/mo reduction for this tenant helping with landscape/snow removal) + $1,250/mo for 4th unit + assumed $600/mo from garage/storage units, although landlord has not actively sought to find tenants to the units). 4-plex units are 912 SqFt. All units have been completely remodeled. Brand new furnaces, AC Units, water heaters, cabinets, solid surface counters, sinks, fixtures, windows and blinds, refrigerator and oven range, tub/shower, doors, LVP flooring, and new texture and paint. Each unit has a washer/dryer hookup. Each unit comes with a small outside storage shed ..... The property comes with 5, 12' x 29' wide garage storage units, and 1, 19' x 29' unit. Commercial storage us is currently non-conforming, meaning city only approves renting the garages to a tenant living in one of the two on-site 4-plexes. Owner owns the 6 east garage units (Owner of adjacent 4-plex owns the west 4 garage units). Seller estimates rents of $100/mo for smaller units and $150/mo for larger units (For Pro-forma, we are estimating average of $600/mo rent from these - seller has not pushed to rent them because of city guidelines for who can rent them, and only one unit is currently rented at $150/mo), with significant increases is roof is replaced/repaired and power garage openers are added. Owner pays for water & sewer (only one meter for theses). Storage units also only have one meter, so owner has been paying for any minimal electrical on those. Tenant pays for electrical and garbage through Springville City, and gas through Dominion. Each unit is separately metered ..... Landlord just completed remodel, and has 2, almost 3 of the 4 units already leased up. Very easy to show 4th unit - All are the same.

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Based on information from the Wasatch Front Regional Multiple Listing Service, Inc. as of 2024-05-24T12:41:15.033. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or the MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed accurate. Buyer to verify all information.
www.thefieldsteam.com/homes/148834193
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339 W 100 S , 1-4 Springville, UT 84663

  • Price: $950,000
  • Status: Active Under Contract
  • On Site: 62 Days
  • Updated: 123 min ago
  • ID#: 1987789
8
Beds
4
Baths
0
½ Baths
0.39
Acres
3,648
SQFT
$260
$/SQFT
1976
Built
Neighborhood:
Provo; Mamth; Springville
County:
Utah
Area:
Provo; Mamth; Springville
Elementary School:
Westside
Middle School:
Springville Jr
High School:
Springville
School District:
Nebo
Property Description
**Request marketing brochure from listing agent for easily printable details - Also, can find attached in documents on the MLS** Property includes 4 units, each 2 bed 1 bath. R1-5 zoning with approval for multi-housing. Scheduled Gross Income is $63,000/year ($1,200/mo per unit for each of 2 units + $1,100/mo for 3rd unit ($100/mo reduction for this tenant helping with landscape/snow removal) + $1,250/mo for 4th unit + assumed $600/mo from garage/storage units, although landlord has not actively sought to find tenants to the units). 4-plex units are 912 SqFt. All units have been completely remodeled. Brand new furnaces, AC Units, water heaters, cabinets, solid surface counters, sinks, fixtures, windows and blinds, refrigerator and oven range, tub/shower, doors, LVP flooring, and new texture and paint. Each unit has a washer/dryer hookup. Each unit comes with a small outside storage shed ..... The property comes with 5, 12' x 29' wide garage storage units, and 1, 19' x 29' unit. Commercial storage us is currently non-conforming, meaning city only approves renting the garages to a tenant living in one of the two on-site 4-plexes. Owner owns the 6 east garage units (Owner of adjacent 4-plex owns the west 4 garage units). Seller estimates rents of $100/mo for smaller units and $150/mo for larger units (For Pro-forma, we are estimating average of $600/mo rent from these - seller has not pushed to rent them because of city guidelines for who can rent them, and only one unit is currently rented at $150/mo), with significant increases is roof is replaced/repaired and power garage openers are added. Owner pays for water & sewer (only one meter for theses). Storage units also only have one meter, so owner has been paying for any minimal electrical on those. Tenant pays for electrical and garbage through Springville City, and gas through Dominion. Each unit is separately metered ..... Landlord just completed remodel, and has 2, almost 3 of the 4 units already leased up. Very easy to show 4th unit - All are the same.
Exterior Features

Architectural Style Stories: 2 Attached Garage YN No Carport YN No Construction Materials Brick Construction Status Blt./Standing Covered Spaces 12 Frontage Length 0.0 Garage YN Yes Horse Property YN No Lot Size Dimensions 0.0x0.0x0.0 Mobile Length 0 Mobile Width 0 Open Parking Spaces 6 Open Parking YN No Parking Total 18 Pool Private YN No Roof Asphalt RVParking Dimensions 0.00 Spa YN No View YN No Waterfront YN No

Interior Features

Bathrooms Partial 0 Bathrooms Total 4 Building Area Total 3648 Cooling YN No Fireplace YN No Heating Gas: Central Heating YN True Interior Features Range/Oven: Free Stdng. Rooms Total 0 Window Features Blinds

Property Features

Association YN No Cross Street 100 Current Use Residential Inclusions Range HoodRefrigerator Irrigation Water Rights Acres 0 Lease Considered YN No New Construction YN No Property Attached YN No Property Condition Blt./Standing Property Sub Type Quadruplex Senior Community YN No Sewer Sewer: Connected Tax Annual Amount 4048 Utilities Natural Gas ConnectedElectricity ConnectedSewer ConnectedWater Connected Zoning Description R1-5

Listing provided courtesy of Core Utah Real Estate: . Information deemed reliable but not guaranteed accurate. Buyer to verify all information. © 2024 Wasatch Front Regional Multiple Listing Service, Inc., All Rights Reserved.


Based on information from the Wasatch Front Regional Multiple Listing Service, Inc. as of 2024-05-24T12:41:15.033. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or the MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed accurate. Buyer to verify all information.
 
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