Active
1180 S COVE VIEW RD
Richfield UT, 84701
$2,499,000
$179.53 per sqft
Active
14 Beds
22 Baths
13,920 sqft
Residential
Built in 1947
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.
2053214
MLSⓇ ID
November 18, 2024
Listed
December 4, 2024
Updated
Map
1180 S COVE VIEW RD
Richfield UT, 84701
Interior Features
Total Stories
0
Bedrooms
14
Total Bathrooms
22
Interior Features
Disposal, Range/Oven: Built-In
Floor Description
Tile
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Electric
Exterior/Building Features
Lot Size
1.24 Acres
Exterior Features
Double Pane Windows, Porch: Open, Storm Doors
Lot Features
View: Mountain
Architectual Style
Stories: 1
Roof
Asphalt
Sewer
Sewer: Connected
School Information
School District
Sevier
High School
Richfield
Elementary School
Ashman
Other Property Details
Area Name
Central Sevier
Taxes
$5,635
Tax Frequency
Annually
Garage
No
Parking
Parking: Uncovered
Parking Total
60
View
Yes
View Description
Mountain(s)
County
Sevier
Water Source
Culinary
Pool
No
Zoning
Multi-Family, Commercial
Courtesy of Real Broker, LLC
Based on information from the Wasatch Front Regional Multiple Listing Service, Inc. as of 9:58 PM UTC, 12/4/2024. 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 deemed reliable but not guaranteed and should be independently verified. 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. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor The Real Mandi Jaxon shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
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