Great Investment opportunity. Seller extremely motivated! 45 unit apartment next to university in Utah. Need investor to buy.

This is a solid apartment complex. It is always 100% Occupied. Everything in this building has been updated in the last year. Located by a popular university in Utah. Location is great. Seller is asking $4,300,000, but is willing to negotiate down to the $3.5 mil range. If you can close quickly they will be even more negotiable. The cap rate is approx. 7%. With major potential to increase cap. Current owners were going to add 10 more units in a full basement and also add units on top of building. They are willing to give plans to buyers. They have talked to the city and have some approvals for the additions. If you are interested or if you know anyone who might be interested please contact me.
Flora Johnson
Red Letter Realty
801-706-8866

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Hi Flora,

Is this property still available? If it is could you e-mail me a pro-forma and exactly how far is this building from the University in terms of miles and drive time?

Thank you,
Jonathan Olaso
joolkano@yahoo.com
Hi Jonathan,
Soory it has taken so long to get back to you. Drive time to the university is about I would say 10 minutes of this depends on traffic. It is actually located between two colleges. One is the large university called BYU and the other is a smaller college. This Property is located in Provo, Utah. The BYU University is a large college. The Pro-forma info I will have to email to you in a seperate email. If you have further questions please feel free to call.
Flora Johnson
Red Letter Realty
801-706-8866
yourrealtor.floraj@comcast.net

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