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Richfield,UT 84701
Key Details
Property Type Multi-Family
Sub Type > 4 Units
Listing Status Active
Purchase Type For Sale
Square Footage 13,800 sqft
Price per Sqft $226
Subdivision Willow Creek
MLS Listing ID 2104672
Style Stories: 3
Bedrooms 36
Year Built 2008
Annual Tax Amount $10,331
Lot Size 435 Sqft
Property Sub-Type > 4 Units
Property Description
Cash cow investment with 100% occupancy near Snow College Richfield campus. This is an incredibly rare opportunity to own a fully occupied, well-maintained 12-unit apartment complex in the heart of Richfield, Utah - just steps from Snow College. With stable, long-term tenants and a proven history of consistent rental income, this property is a true turnkey investment. Current rents average $1,041/month per unit, well below market value - which means there's a strong potential upside. Similar units in the area are renting for around $1,400/month, offering immediate potential to significantly increase cash flow. Prime location provides lasting value. Located in one of Richfield's most desirable neighborhoods, this property benefits from its proximity to Snow College, ensuring ongoing rental demand and strong property values. The grounds are meticulously maintained, and the surrounding area is quiet, safe, and family-oriented. The building attracts quality tenants-primarily working families-who pay on time and value the sense of community. All leases are month-to-month, providing flexibility for future rental adjustments. The property features a shared community orchard with fruit trees, horseshoe pits, and a barbecue area, creating a welcoming, relaxed environment. Proven management provide responsive, same-day maintenance and a family-like management approach have fostered a strong sense of trust and loyalty among tenants, making this a positive influence on the wider community. This listing is for 1 of 2 buildings available. Each building has 12 units, and both buildings can be purchased separately or together as a pair for maximum investment value and income opportunity. Other listing is MLS #5141995.
Location
State UT
County Sevier
Area Central Sevier
Zoning Multi-Family
Interior
Heating Forced Air
Flooring Carpet,Tile
Inclusions Ceiling Fan, Dishwasher: Portable
Laundry Electric Dryer Hookup
Exterior
Exterior Feature Double Pane Windows
Utilities Available Natural Gas Connected,Electricity Connected,Sewer Connected,Sewer: Public,Water Connected
View Y/N No
Roof Type Asphalt,Pitched
Building
Lot Description Sprinkler: Auto-Part
Sewer Sewer: Connected,Sewer: Public
Water Culinary
Structure Type Brick,Stucco
New Construction No
Schools
Elementary Schools Ashman
Middle Schools Red Hills
High Schools Richfield
School District Sevier