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457 S 500 E 6 Unit Apartment Building $840,000 ($140,000/Unit) 7.59% Cap Rate Provo, UT 84606
Executive Summary
SIGNIFICANT VALUE-ADD, CASH COW 6-PLEX OPPORTUNITY in Provo, BYU market, with a solid 6.18% cap (as is!) with easy 7%-cap potential simply by increasing rents (which are BELOW MARKET)! Recent rate increase validates the pro forma rent assumptions! Increase the cap to mid or upper 7's by self managing. UPDATED: roof (approximately 6 years ago), kitchens, bathrooms, flooring, fixtures, with recent exterior improvements to paint, siding, & window sealing! Tenants currently enjoy use of a secure, free laundry area in basement of neighboring 6-plex. Additional income opportunity also available through managing utilities differently (units metered separately!). LOCATION: near BYU, with quick access to I-15 & Provo downtown entertainment, restaurants, & shopping. Purchase the neighboring 6-plex (same seller) for operational efficiencies! 5 1-bed units; 1 2-bed unit. Square footage per county records. Buyer/agent to verify all. Do not disturb tenants; offer subject to inspection.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $840,000 | Apartment Style | Low-Rise |
| Price Per Unit | $140,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 7.59% | Building Size | 3,278 SF |
| Sale Condition | 1031 Exchange | No. Stories | 2 |
| No. Units | 6 | Year Built | 1925 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment |
| Price | $840,000 |
| Price Per Unit | $140,000 |
| Sale Type | Investment |
| Cap Rate | 7.59% |
| Sale Condition | 1031 Exchange |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 3,278 SF |
| No. Stories | 2 |
| Year Built | 1925 |
| Opportunity Zone |
Yes |
1 1
Fairly walkable
50/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 05-048-0010 | Improvements Assessment | $0 (2026) |
| Land Assessment | $0 (2026) | Total Assessment | $627,550 (2026) |
Property Taxes
Parcel Number
05-048-0010
Land Assessment
$0 (2026)
Improvements Assessment
$0 (2026)
Total Assessment
$627,550 (2026)
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457 S 500 E