745 S HARRISON DR W #37 new Save Request In-Person Tour Request Virtual Tour
Springville,UT 84663
Key Details
Property Type Multi-Family
Sub Type > 4 Units
Listing Status Active
Purchase Type For Sale
Square Footage 8,625 sqft
Price per Sqft $269
Subdivision West Field Central
MLS Listing ID 2109234
Style Five-Plex
Bedrooms 20
HOA Fees $700/mo
Year Built 2025
Annual Tax Amount $10,000
Lot Size 6,534 Sqft
Property Sub-Type > 4 Units
Property Description
Springville, Utah | 5-Plex Investment Opportunity Brand new 5-unit townhome building hitting the market-designed for the investor who wants both stability and appreciation upside. Each unit offers 4 bedrooms, 2.5 bathrooms, modern finishes, private balconies, 2-car garages, and functional layouts built for long-term tenant demand. Income Snapshot (Pro Forma): Monthly Rent per Unit: $2,318 Gross Scheduled Income: $139,080/year Net Operating Income (NOI): $97,438/year Cap Rate: 4.23% (based on bulk price of $2,325,000) Operating Assumptions: Property Taxes: $15,640/year (Utah County, non-owner occupied) Insurance: $3,750/year ($750 per unit) Management: 8% ($11,126/year) Maintenance (new build): 3% ($4,172/year) Vacancy: 5% ($6,954/year) Investor Highlights: Bulk Discount Pricing: $465,000 per unit (below retail comps; one unit already appraised at $480,000). Turnkey New Construction: Minimal maintenance in early years, maximizing NOI. Tenant-Friendly Design: Large bedrooms, full laundry rooms, walk-in pantries-features that command premium rents and tenant retention. Prime Location: 3 minutes to I-15, 1 minute to schools and parks, 5 minutes to Walmart/Smith's Marketplace, and minutes from Provo/Orem employment hubs. 1031 Exchange Ready: Strong cash flow with long-term appreciation in one of Utah's fastest-growing corridors. This is not a "what if" deal-this is new construction with completed phase comps already proving value. Whether you're looking to roll gains via a 1031 or lock in a long-term hold in Utah County, this 5-plex checks the boxes for stability, growth, and tenant demand. Subdivision maps, floorplans, and appraisal docs available upon request. Square footage figures are provided as a courtesy estimate only and were obtained from construction plans. Buyer is advised to obtain an independent measurement.
Location
State UT
County Utah
Area Provo; Mamth; Springville
Zoning Single-Family
Interior
Heating Gas: Central
Inclusions Dishwasher: Portable, Microwave, Range, Refrigerator
Exterior
Exterior Feature Balcony,Patio: Covered,Sliding Glass Doors
Garage Spaces 10.0
Utilities Available Natural Gas Connected,Electricity Connected,Sewer Connected,Water Connected
Amenities Available Picnic Area,Playground
View Y/N Yes
View Mountain(s)
Roof Type Asphalt
Building
Lot Description Road: Paved,View: Mountain
Sewer Sewer: Connected
Water Culinary
Structure Type Stone,Stucco
New Construction Yes
Schools
Elementary Schools Meadow Brook
High Schools Springville
School District Nebo
Others
Monthly Total Fees $700
Acceptable Financing Cash,Conventional,Exchange,FHA
Listing Terms Cash,Conventional,Exchange,FHA