$815,000

PRICE

1891 & 1913

YEAR BUILT

6.56%

CAP RATE

4,815 SF

BUILDING SIZE

0.45 AC

LAND SIZE

234 & 313 East 200 North

234 & 313 East 200 North | Provo, Utah

The Offering

The Subject property represents a multi-family student housing property in the town of Provo, Utah located 5 blocks from Brigham Young University. The real estate sits on two contiguous separate parcels of 19,602 square feet allowing for a potential redevelopment of up to 22 units based on adjacent apartment densities. The location is walking distance to campus and downtown Provo and is  currently 100% occupied with students who are on month to month leases. Both properties are registered as historical and qualify for tax credits (details enclosed). The current rents are significantly below market and allow for immediate upside. This property is a true value add considering the prime location, below market rents, and the supply constrained market for student housing. It is truly rare in today’s real estate investment market to find a property that offers all the strong fundamentals that this offering possesses.

Investment Highlights

  • •Multi-family investment opportunity consisting of 19,602 SF of land on two contiguous lots
  • 100% Occupied. First Time on Market in 50 Years
  • Located Five Blocks from Brigham Young University
  • Significantly Below Market Rent
  • State-wide Housing Shortage, Virtually No Inventory
  • High Population Density
  • Federal & Utah Historic Preservation Tax Credit Incentives

Submit your information below to request the Offering Memorandum for this Property.




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