Homes for sale - 1180 S COVE VIEW RD, Richfield, UT 84701

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Jaimi Payne

homesbyjaimi@gmail.com +1(435) 359-3356

$ 2,250,000

Est. payment | -/mo

14 Beds

22 Baths

13,920 SqFt

Save

$ 2,250,000

Est. payment | -/mo

Save

14 Beds

22 Baths

13,920 SqFt

Key Details

Property Type Multi-Family

Sub Type > 4 Units

Listing Status Active

Purchase Type For Sale

Square Footage 13,920 sqft

Price per Sqft $161

MLS Listing ID 2053214

Style Stories: 1

Bedrooms 14

Construction Status Blt./Standing

HOA Y/N No

Year Built 1947

Annual Tax Amount $5,635

Lot Size 1.240 Acres

Acres 1.24

Lot Dimensions 0.0x0.0x0.0

Property Sub-Type > 4 Units

Property Description

Prime investment opportunity in Richfield, Utah! This 20-unit multi-family complex is situated in a rapidly growing area, thanks to Snow College's expanding presence and the region's strong economic development. Recently remodeled from a former hotel into modern apartments, the property offers significant upside potential with 13 of the 20 units currently leased. Conveniently located in an up-and-coming part of town, tenants enjoy proximity to Walmart, Home Depot, Snow College, Richfield High School, and quick freeway access. This property is priced at an attractive 7% cap rate and comes with the added benefit of a professional property manager with a stellar track record of overseeing 150+ doors in the Richfield area. The property manager is eager to stay on and continue leasing the remaining units while ensuring smooth operations for this turnkey investment. With strong rental demand fueled by Snow College's growth and a desirable location, this property presents an exceptional opportunity for seasoned and new investors alike. Don't miss your chance to secure this high-potential asset in the thriving Richfield market.

Location

State UT

County Sevier

Area Central Sevier

Zoning Multi-Family, Commercial

Interior

Interior Features Disposal, Range/Oven: Built-In

Heating Electric

Flooring Tile

Inclusions Ceiling Fan, Microwave, Range, Refrigerator

Fireplace No

Window Features Blinds

Exterior

Exterior Feature Double Pane Windows, Porch: Open, Storm Doors

Utilities Available Natural Gas Connected, Electricity Connected, Sewer Connected, Water Connected

View Y/N Yes

View Mountain(s)

Roof Type Asphalt

Present Use Residential

Topography Terrain, Flat, View: Mountain

Porch Porch: Open

Total Parking Spaces 60

Private Pool No

Building

Lot Description View: Mountain

Sewer Sewer: Connected

Water Culinary

Structure Type Brick

New Construction No

Construction Status Blt./Standing

Schools

Elementary Schools Ashman

Middle Schools Red Hills

High Schools Richfield

School District Sevier

Others

Senior Community No

Tax ID 1-7A-22

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Listed by Real Broker, LLC

“The Elite Real Estate Group is here to help you navigate your real estate transaction and provide you with the luxury experience that you deserve.”

+1(435) 359-3356

homesbyjaimi@gmail.com

20 E. 1000 S., Richfield, Utah, 84701

1180 S COVE VIEW RD Richfield, UT 84701