Roylance Townhomes
Multifamily | 30 Units | $276,667/unit
Marketing description
Introducing ROYLANCE TOWNHOMES | 984 E 900 S, PROVO, UT 84606 Explore the lucrative opportunity at Roylance Townhomes, a fully occupied 30-unit community strategically nestled in the heart of Provo, UT. Boasting a mix of 28 two-bedroom and 2 three-bedroom townhome-style units, this gem offers residents unrivaled privacy and functionality, a rare find in the dynamic university-driven market of Provo. Positioned just moments away from Brigham Young University, Roylance Townhomes basks in continuous student-driven demand, ensuring stable occupancy rates and strong leasing activity. Beyond the confines of the property, the Provo-Orem metro area's exponential growth, burgeoning job market, and robust economy further elevate the investment appeal. With current operations showcasing stability, an alluring proposition presents itself to enhance performance through professional management, income-generating programs, and targeted interior upgrades. Coupled with below-market rents and operational efficiencies waiting to be harnessed, Roylance Townhomes epitomizes a compelling value-add opportunity in Utah's competitive student housing market.
Investment highlights
PROXIMITY TO BYU CAMPUS
Located just minutes from Brigham Young University, the property benefits from consistent student demand, exceptional access to campus, and long-term occupancy stability within a highly supply-constrained submarket. Roylance Apartments is currently operating at full occupancy, providing immediate, durable in-place income supported by strong tenant demand in the BYU submarket.
IRREPLACEABLE TOWNHOME-STYLE UNIT MIX
The property’s 30-unit composition of predominantly two-bedroom townhome-style residences with no stacked units offers a differentiated living experience that supports durable tenant demand and long-term rent growth.
CLEAR VALUE-ADD & OTHER INCOME POTENTIALS
Below-market in-place rents provide a clear path to revenue growth through lease rollovers and market alignment. Additional upside exists through cosmetic renovations, implementation of standard other-income streams, and potential three-bedroom-to- four-bedroom unit conversions supporting rents in the $2,000–$2,300 range based on market comparables.
OPERATIONAL UPSIDE THROUGH PROFESSIONAL MANAGEMENT
Owned and self-managed by the original developer since 2000, the property presents immediate opportunity to improve efficiencies, optimize leasing strategy, and implement institutional management practices to enhance NOI.
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