$2,325,000
745 S Harrison Dr W # 37, Springville, UT 84663
- 20Beds
- 15Baths
- 8625SqFt
- 20Beds
- 15Baths
- 8625SqFt
- Property TypeCondo
- Year Built2025
- HOA Fees$700/mo
- Price per Sqft$270
- On highrises2 Days
- Garage10 Cars
Open Houses
Property Details
Springville, Utah | 5-Plex Investment Opportunity Brand new 5-unit townhome building hitting the market-designed for the investor who wants both stability and appreciation upside. Each unit offers 4 bedrooms, 2.5 bathrooms, modern finishes, private balconies, 2-car garages, and functional layouts built for long-term tenant demand. Income Snapshot (Pro Forma): Monthly Rent per Unit: $2, 318 Gross Scheduled Income: $139, 080/year Net Operating Income (NOI): $97, 438/year Cap Rate: 4.23% (based on bulk price of $2, 325, 000) Operating Assumptions: Property Taxes: $15, 640/year (Utah County, non-owner occupied) Insurance: $3, 750/year ($750 per unit) Management: 8% ($11, 126/year) Maintenance (new build): 3% ($4, 172/year) Vacancy: 5% ($6, 954/year) Investor Highlights: Bulk Discount Pricing: $465, 000 per unit (below retail comps; one unit already appraised at $480, 000). Turnkey New Construction: Minimal maintenance in early years, maximizing NOI. Tenant-Friendly Design: Large bedrooms, full laundry rooms, walk-in pantries-features that command premium rents and tenant retention. Prime Location: 3 minutes to I-15, 1 minute to schools and parks, 5 minutes to Walmart/Smith's Marketplace, and minutes from Provo/Orem employment hubs. 1031 Exchange Ready: Strong cash flow with long-term appreciation in one of Utah's fastest-growing corridors. This is not a what if deal-this is new construction with completed phase comps already proving value. Whether you're looking to roll gains via a 1031 or lock in a long-term hold in Utah County, this 5-plex checks the boxes for stability, growth, and tenant demand. Subdivision maps, floorplans, and appraisal docs available upon request. Square footage figures are provided as a courtesy estimate only and were obtained from construction plans. Buyer is advised to obtain an independent measurement.
Property Features
Bedrooms
- Bedrooms: 20
Property History
Neighborhood
Environmental Risk
Nearby Home Values
- Presented by:
- Luke Kennard
- state license#13680654
