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31233386
31233400

460 200 S, Provo, UT 84606

CA
UT 5492529-SA00
Alliance Realtors
Listed by Alliance Realtors
$4,400,000
73 days on market
Updated 73 days ago

Maeser Apartments

Details
APN 05-051-0017
Property Type Multifamily
Sub Type Apartment Building
Square Footage 14,994
Units 21
Cap Rate 4.91%
NOI $215,964
Occupancy 100%
Pro-Forma Cap Rate 6.72%
Pro-Forma NOI $295,800
Price per SqFt $293
Year Built 1978
Buildings 1
Stories 3
Acreage 0.460
Investment Type Net Lease
Sale Condition 1031 exchange

Multifamily | 21 Units | $209,524/unit

Marketing description

Discover a well‑positioned 21‑unit multifamily asset in the heart of Provo, offering a desirable mix of 1‑bedroom, 2‑bedroom, and 1 studio units. Many apartments have been refreshed with new carpet and durable VLP flooring, enhancing tenant appeal and reducing turnover costs. A new pitched roof installed just two years ago provides long‑term durability and minimizes upcoming capital expenditures.

Ideally located near BYU and Provo’s Center Street, the property benefits from exceptional rental demand, consistently low vacancy, and stable annual leases. Current rents offer meaningful upside for investors seeking value‑add potential. The on‑site coin‑operated laundry generates additional income, and the clean, well‑cared‑for units make leasing straightforward and reliable.

This is a rare opportunity to acquire a stable, income‑producing asset in one of Utah County’s strongest rental markets.

APOD available upon request. Square footage figures are provided as a courtesy estimate from the Utah County Recorder. Buyer is advised to obtain an independent measurement.

Investment highlights

  • 21‑Unit Value‑Add Multifamily in a high‑demand Provo rental corridor

  • Immediate Upside in Rents with below‑market rates and strong tenant demand

  • Low Vacancy History driven by proximity to BYU and Center Street

  • Recent Capital Improvements including a new pitched roof (~2 years old)

  • Updated Interiors in many units with new carpet and durable VLP flooring

  • Strong Operational Stability with annual leases and consistent performance

  • Additional Revenue Stream from on‑site coin‑operated laundry

  • High‑Growth Submarket with proven rent appreciation and limited supply

  • Turnkey Asset with clear pathways to increase NOI through strategic upgrades

  • APOD Available Upon Request for investor underwriting

Listing Contacts

CA
UT 5492529-SA00
Alliance Realtors
Listed by Alliance Realtors

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$215,964.00
$17,997.00/mo

Valuation Metrics

0
DSCR
4.91%
Cap Rate
4.91%
ROI

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Additional Information

Name
Christine Alleman
License
5492529-SA00
Brokerage Phone
8012229449
Title
UT
Brokerage Address
1800 South State Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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