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220 N Spring Creek Pky 6 Unit Apartment Building $2,040,000 ($340,000/Unit) 4.85% Cap Rate Providence, UT 84332
Investment Highlights
- Amazing Location in the heart of Providence
- Newer property with very little maintenance
- Fully Leased with very little vacancy
Executive Summary
Incredible Investment Property! Only a few years old and 100% occupied. The property consists of 6 individually platted townhomes. Each unit has a 2 car garage, 3 bedrooms and 2.5 baths and boasts and open floor plan with a large primary bedroom. Extremely desirable to rent with little to no maintenance. This is on you don't want to miss out on! These properties don't come around often. Buyer to verify all information.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$119,732
|
$4.90
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$119,732
|
$4.90
|
| Taxes |
$7,819
|
$0.32
|
| Operating Expenses |
$12,949
|
$0.53
|
| Total Expenses |
$20,768
|
$0.85
|
| Net Operating Income |
$98,964
|
$4.05
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $119,732 |
| Annual Per SF | $4.90 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $119,732 |
| Annual Per SF | $4.90 |
| Taxes | |
|---|---|
| Annual | $7,819 |
| Annual Per SF | $0.32 |
| Operating Expenses | |
|---|---|
| Annual | $12,949 |
| Annual Per SF | $0.53 |
| Total Expenses | |
|---|---|
| Annual | $20,768 |
| Annual Per SF | $0.85 |
| Net Operating Income | |
|---|---|
| Annual | $98,964 |
| Annual Per SF | $4.05 |
Property Facts
| Price | $2,040,000 | Apartment Style | Townhome |
| Price Per Unit | $340,000 | Building Class | C |
| Sale Type | Investment | Building Size | 8,400 SF |
| Cap Rate | 4.85% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2021 |
| Property Subtype | Apartment | Parking Ratio | 2.38/1,000 SF |
| Zoning | Multi Family | ||
| Price | $2,040,000 |
| Price Per Unit | $340,000 |
| Sale Type | Investment |
| Cap Rate | 4.85% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Building Size | 8,400 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2021 |
| Parking Ratio | 2.38/1,000 SF |
| Zoning | Multi Family |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Carpet
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2.5 | 6 | $1,650 | 1,314 |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 02-162-0015 | Total Assessment | $7,321,943 |
| Land Assessment | $3,120,000 | Annual Taxes | $7,819 ($0.93/SF) |
| Improvements Assessment | $4,201,943 | Tax Year | 2025 |
Property Taxes
Parcel Number
02-162-0015
Land Assessment
$3,120,000
Improvements Assessment
$4,201,943
Total Assessment
$7,321,943
Annual Taxes
$7,819 ($0.93/SF)
Tax Year
2025
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220 N Spring Creek Pky
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