339 W 100 S #1-4
Springville, UT 84663
MLS #1987789

Quadruplex for Sale

**Request marketing brochure from listing agent for easily printable details - Also, can find attached in documents on the MLS** Property includes 4 units, each 2 bed 1 bath. R1-5 zoning with approval for multi-housing. Scheduled Gross Income is $63,000/year ($1,200/mo per unit for each of 2 units + $1,100/mo for 3rd unit ($100/mo reduction for this tenant helping with landscape/snow removal) + $1,250/mo for 4th unit + assumed $600/mo from garage/storage units, although landlord has not actively sought to find tenants to the units). 4-plex units are 912 SqFt. All units have been completely remodeled. Brand new furnaces, AC Units, water heaters, cabinets, solid surface counters, sinks, fixtures, windows and blinds, refrigerator and oven range, tub/shower, doors, LVP flooring, and new texture and paint. Each unit has a washer/dryer hookup. Each unit comes with a small outside storage shed ..... The property comes with 5, 12' x 29' wide garage storage units, and 1, 19' x 29' unit. Commercial storage us is currently non-conforming, meaning city only approves renting the garages to a tenant living in one of the two on-site 4-plexes. Owner owns the 6 east garage units (Owner of adjacent 4-plex owns the west 4 garage units). Seller estimates rents of $100/mo for smaller units and $150/mo for larger units (For Pro-forma, we are estimating average of $600/mo rent from these - seller has not pushed to rent them because of city guidelines for who can rent them, and only one unit is currently rented at $150/mo), with significant increases is roof is replaced/repaired and power garage openers are added. Owner pays for water & sewer (only one meter for theses). Storage units also only have one meter, so owner has been paying for any minimal electrical on those. Tenant pays for electrical and garbage through Springville City, and gas through Dominion. Each unit is separately metered ..... Landlord just completed remodel, and has 2, almost 3 of the 4 units already leased up. Very easy to show 4th unit - All are the same.