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Listed by Stratum Real Estate Group So Branch
$ 7,400,000
Est. payment | /mo
33,264 SqFt
$ 7,400,000
Est. payment | /mo
33,264 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 33,264 sqft
Price per Sqft $222
MLS Listing ID 25-264208
Year Built 2018
Annual Tax Amount $12,100
Tax Year 2022
Lot Size 1.730 Acres
Acres 1.73
Property Description
Over 9% Cap Rate! Rare opportunity for an established 24 unit student apartment building in the middle of Cedar City! The property consists of two 12 plex apartment buildings that are each 3 stories tall, making up 96 bedrooms in total. Each apartment unit floor plan consists of 4 bed 2.5 bath with it's own kitchen, living room/dining area & laundry. Newly built in 2018, the apartment building and units are in great shape. As a student rental, the building has been receiving around $550 per month per private bedroom. The landlord is currently paying all of the utilities. Plenty of parking with 125 parking stalls. With being around 1 mile from the SUU campus, this building is ideal to be used as a student housing complex. SUU is projected to continue to grow. Don't delay, come see today!
Location
State UT
County Iron
Area Outside Area
Interior
Heating Gas FA
Cooling Central Air
Exterior
Roof Type Asphalt
Building
Story 3.0
Schools
Elementary Schools Out Of Area
Middle Schools Out Of Area
High Schools Out Of Area
Others
Tax ID See Private Remarks
Ownership CEDAR CITY APARTMENTS L L C
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition ERS
Virtual Tour https://my.matterport.com/show/?m=9Q6KgVdavcH