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Dixie Cove 233 S 1000 E 23 Unit Apartment Building $1,550,000 ($67,391/Unit) Saint George, UT 84770
INVESTMENT HIGHLIGHTS
- RARE STUDENT HOUSING OPPORTUNITY: Only one property under 40 units has sold near Utah Tech in the past five years, making this a rare opportunity.
- OPERATIONAL UPSIDE: New management has improved performance and stabilized operations, unlocking further upside potential.
- LOCATED IN AN OPPORTUNITY ZONE: Offering investors significant tax incentives that add a compelling layer to the investment’s long-term value.
- UNBEATABLE LOCATION: Directly across the street from Utah Tech University. Walk-to-campus convenience with large rooms and attractive amenities.
- ENROLLMENT GROWTH: Utah Tech's enrollment reached a new record, increasing nearly 5% last fall, driving sustained demand for student housing.
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to announce the exclusive listing of Dixie Cove, a unique student housing opportunity directly across the street from Utah Tech University. Properties of this size rarely trade in the area; only one under 40 units has sold in the past five years, making this a scarce and highly desirable asset. The location offers unbeatable walkability for students, with large bedrooms and attractive amenities that support strong leasing demand.
The property has recently benefited from new professional management, which has already improved operations and demonstrated further upside potential. With Utah Tech’s enrollment growing nearly 5% year-over-year last fall—a new record—the fundamentals for student housing remain strong. This asset is well-positioned to capitalize on continued enrollment growth and increasing demand for quality, conveniently located housing.
The property has recently benefited from new professional management, which has already improved operations and demonstrated further upside potential. With Utah Tech’s enrollment growing nearly 5% year-over-year last fall—a new record—the fundamentals for student housing remain strong. This asset is well-positioned to capitalize on continued enrollment growth and increasing demand for quality, conveniently located housing.
PROPERTY FACTS
| Price | $1,550,000 | Building Class | B |
| Price Per Unit | $67,391 | Lot Size | 0.53 AC |
| Sale Type | Investment | Building Size | 11,694 SF |
| No. Units | 23 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1973/2001 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R-4 | ||
| Price | $1,550,000 |
| Price Per Unit | $67,391 |
| Sale Type | Investment |
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.53 AC |
| Building Size | 11,694 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1973/2001 |
| Opportunity Zone |
Yes |
| Zoning | R-4 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Microwave
- Storage Space
- Heating
- Kitchen
- High Speed Internet Access
- Refrigerator
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- Laundry Facilities
- Pool
- Security System
- Grill
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 23 | - | - |
1 1
Walk Score®
Very Walkable (71)
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Dixie Cove | 233 S 1000 E
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