This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
875 S Geneva Rd
Orem, UT 84058
Promenade Place Apartments · Multifamily Property For Sale
·
114 Units
PROPERTY FACTS
| No. Units | 114 | Building Size | 150,000 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Mid-Rise | Year Built | 2016 |
| Building Class | A | Parking Ratio | 1.77/1,000 SF |
| Lot Size | 3.45 AC |
| No. Units | 114 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | A |
| Lot Size | 3.45 AC |
| Building Size | 150,000 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 2016 |
| Parking Ratio | 1.77/1,000 SF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Washer/Dryer
- Heating
- Granite Countertops
- Oven
- Tub/Shower
- Carpet
- Window Coverings
SITE AMENITIES
- Fitness Center
- Picnic Area
- Property Manager on Site
- Furnished Units Available
- Conference Rooms
- Roommate Matching
ABOUT 875 S GENEVA RD , OREM, UT 84058
OUTPACING GROWTH EXPECTATIONS IN AN ALREADY-UNDERSERVED STUDENT HOUSING MARKET UVU is already the largest university in the State of Utah and, based on a study two years ago, its enrollment was projected to grow more than 25% by 2025. As of Fall 2018, however, actual enrollment is outpacing this previous estimate by 6.3%-- 2,365 students ahead of projections. From Fall 2017 to Fall 2018 alone, there has been a 7.1% growth in enrollment--a 2,660 single-year headcount growth. Due to this rapid pace, the university is currently at enrollment levels that, just two years ago, it did not project to reach until about Fall 2020. UVU has no on-campus housing and a very limited supply of off-campus housing. Due to both the existing shortage of student housing and the limited land around the university that could be developed into student housing, Promenade Place is well-positioned to continue to be fully-occupied and to experience ongoing rent growth for many years to come.
PROPERTY TAXES
| Parcel Number | 49-863-0001 | Improvements Assessment | $26,415,000 |
| Land Assessment | $4,002,300 | Total Assessment | $16,729,515 |
PROPERTY TAXES
