358 W W 650 N #A-D Active Save Request In-Person Tour Request Virtual Tour
Payson,UT 84651
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 4,220 sqft
Price per Sqft $235
Subdivision Ridge
MLS Listing ID 2014153
Style Stories: 2
Bedrooms 8
HOA Fees $1,040/mo
Year Built 2021
Annual Tax Amount $5,141
Lot Size 871 Sqft
Property Description
INVESTORS! This is a newer fourplex in the Pineridge Farms apartment complex in Payson, Utah. Gross rent represents 6.44% cap rate at the asking price! The property consists of four units, each 2 bed, 2 bath. HOA fees are $1040 per month. Current leases are 12 months and are as follows: Unit A $1409.50 Unit B $1485.50 Unit C $1308 Unit D $1438 TOTAL - $5641.00 Pictures are not of the actual units, but merely a representation provided by the management company. Actual properties were purchased per-construction by the current owner, who opted to purchase several upgrades offered by the developer, including engineered wood floors, granite countertops, and a stainless steel package for the kitchen, meaning tenants will prefer these units over ones without the upgrades. No showings will be available until the property is under contract so as to not disturb tenants. The property manager will arrange showings during the due diligence period. The property is currently professionally managed by Maxx Property Management, which offers investors 7% management fee on gross rents collected and is the HOA-designated master property management company for this development. HOA Services include: Water, Sewer Landscape Maintenance, Snow Removal, Garbage Service, Internet, Smart Home, and Master Insurance Policy features. Property is being sold BY OWNER.
Location
State UT
County Utah
Area Payson; Elk Rg; Salem; Wdhil
Zoning Multi-Family
Interior
Heating Electric
Inclusions Dishwasher: Portable, Dryer, Range, Refrigerator, Washer
Exterior
Exterior Feature Porch: Open
Community Features Clubhouse
Utilities Available Sewer Connected,Water Connected
Amenities Available Clubhouse,Picnic Area,Playground
Waterfront No
View Y/N No
Building
Lot Description Road: Paved
Sewer Sewer: Connected
Structure Type Stucco
New Construction No
Schools
Elementary Schools Taylor
Middle Schools Payson Jr
High Schools Payson
School District Nebo
Others
Monthly Total Fees $1,040
Acceptable Financing Cash,Conventional,FHA,VA Loan
Listing Terms Cash,Conventional,FHA,VA Loan