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.

Features
: Electric
: Porch: Open
: Parking: Uncovered
: Stories: 1
: Double Pane Windows, Porch: Open, Storm Doors
: Tile
: Disposal, Range/Oven: Built-In
: Sewer: Connected
: Natural Gas Connected, Electricity Connected, Sewer Connected, Water Connected
: Blinds
Address Map
US
UT
Sevier
Richfield
84701
COVE VIEW
1180
RD
W113° 54' 25''
N38° 45' 4.3''
Central Sevier
S
Multi-Family, Commercial
Neighborhood
Ashman
Sevier
Richfield
Sevier
Sevier
Red Hills
Additional Information
0.0x0.0x0.0
: Culinary
2024-11-18
20
: View: Mountain
: Residential
: Brick
13920
Financial
5635.0
Listing Information
Tyler Day
4021460
71477
Real Broker, LLC
87211
71477
Cash, Conventional
Active
2024-12-04T21:29:41Z
WFRMLS

Residential For Sale

1180 S Cove View Rd, Richfield, Utah 84701

14 Bedrooms
22 Bathrooms
13,920
$2,499,000
Listing ID #2053214
Basic Details
Property Type : Residential
Listing Type : For Sale
Listing ID : 2053214
Price : $2,499,000
View : Mountain(s)
Bedrooms : 14
Bathrooms : 22
Square Footage : 13,920
Year Built : 1947
Lot Area : 1.24 Acre
Status : Active
Office Name : Real Broker, LLC
Agent Name : Adam Lancaster
Listing Status : Active
Property Sub Type : > 4 Units
Roof : Asphalt
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