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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