819 W 50 N
Property Description
Cash cow investment with 100% occupancy near Snow College Richfield campus. This is an incredibly rare opportunity to own a fully occupied, well-maintained 12-unit apartment complex in the heart of Richfield, Utah - just steps from Snow College. With stable, long-term tenants and a proven history of consistent rental income, this property is a true turnkey investment. Current rents average $1,041/month per unit, well below market value - which means there's a strong potential upside. Similar units in the area are renting for around $1,400/month, offering immediate potential to significantly increase cash flow. Prime location provides lasting value. Located in one of Richfield's most desirable neighborhoods, this property benefits from its proximity to Snow College, ensuring ongoing rental demand and strong property values. The grounds are meticulously maintained, and the surrounding area is quiet, safe, and family-oriented. The building attracts quality tenants-primarily working families-who pay on time and value the sense of community. All leases are month-to-month, providing flexibility for future rental adjustments. The property features a shared community orchard with fruit trees, horseshoe pits, and a barbecue area, creating a welcoming, relaxed environment. Proven management provide responsive, same-day maintenance and a family-like management approach have fostered a strong sense of trust and loyalty among tenants, making this a positive influence on the wider community. This listing is for 1 of 2 buildings available. Each building has 12 units, and both buildings can be purchased separately or together as a pair for maximum investment value and income opportunity.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,589,000 |
| No. of Units: | 12 |
| Year Built: | 2008 |
| Lot Size: | 13,800.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $215,750 |
| Number of Bedrooms: | 36 |
| Number of Bathrooms: | 24 |
ID: 3yd-WFRMLSUT-2186822
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