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420 W 600 N

Orem, UT 84057
  • $248,500
  • STATUS: Active Under Contract
  • ON SITE: 468 Days
  • ID#: 1707236
Under Contract
UPDATED: 63 min ago
$248,500
  • 0
    BEDS
  • 0.27
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:

School Information

Elementary School:
Middle School:
High School:
School District:

Description

This is a a shovel-ready 4plex project in Orem specifically for seniors. Entitlements are in place and building plans have been approved by the city. Seller has even paid the permit fee--you get the permit as part of the purchase. It's literally shovel-ready because you can immediately start digging. Property has entitlements and building for a senior housing fourplex with rent limits for 3 bed units are $1336 but more likely to rent in $1100-1200 range. Seller has had the entitlements for a couple of years and permit ready for 8 months. He moved to Hawaii and just too hard to build from there. It's an awesome project targeting an ideal demographic. You have to rent to seniors who make up to $48k per year. Basically, middle class seniors--can you think of more stable and low-impact tenants? You have a little bit of hassle with with rent limits and income limits but should be easy enough to find great tenants who will stay long-term. Buyer/broker verify everything.

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Based on information from the Wasatch Front Regional Multiple Listing Service, Inc. as of 2022-01-26T04:51:24.56. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or the MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed accurate. Buyer to verify all information.
www.utahforsalehomes.com/homes/110980603
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420 W 600 N Orem, UT 84057

  • Price: $248,500
  • Status: Active Under Contract
  • On Site: 468 Days
  • Updated: 63 min ago
  • ID#: 1707236
0
Beds
0
Baths
0
½ Baths
0.27
Acres
Neighborhood:
Pl Grove; Lindon; Orem
County:
Utah
Area:
Pl Grove; Lindon; Orem
Elementary School:
Geneva
Middle School:
Orem
High School:
Timpanogos
School District:
Alpine
Property Description
This is a a shovel-ready 4plex project in Orem specifically for seniors. Entitlements are in place and building plans have been approved by the city. Seller has even paid the permit fee--you get the permit as part of the purchase. It's literally shovel-ready because you can immediately start digging. Property has entitlements and building for a senior housing fourplex with rent limits for 3 bed units are $1336 but more likely to rent in $1100-1200 range. Seller has had the entitlements for a couple of years and permit ready for 8 months. He moved to Hawaii and just too hard to build from there. It's an awesome project targeting an ideal demographic. You have to rent to seniors who make up to $48k per year. Basically, middle class seniors--can you think of more stable and low-impact tenants? You have a little bit of hassle with with rent limits and income limits but should be easy enough to find great tenants who will stay long-term. Buyer/broker verify everything.
Exterior Features

Attached Garage YN No Carport Spaces 0 Carport YN No Covered Spaces 0 Frontage Length 0.0 Garage YN No Horse Property YN No Lot Size Dimensions 0.0X0.0X0.0 Mobile Length 0 Mobile Width 0 Open Parking Spaces 0 Open Parking YN No Parking Total 0 Pool Private YN No Spa YN No View YN No Waterfront YN No

Interior Features

Above Grade Finished Area 0 Basement Finished Percentage 0 Bathrooms One Quarter 0 Bathrooms Partial 0 Building Area Total 0 Cooling YN No Fireplace YN No Fireplaces Total 0 Heating YN False Main Level Bedrooms 0 Rooms Total 0

Property Features

Association Fee 0 Association YN No Capitalization Rate 0 Cross Street 600 Current Use ResidentialMulti-Family Irrigation Water Rights Acres 0 Lease Amount 0 Lease Considered YN No Listing Terms Cash New Construction YN No Number Of Pads 0 Number Of Units Leased 0 Power Production Solar Year Install 0 Property Attached YN No Property Condition Blt./Standing Property Sub Type Residential Senior Community YN No Tax Annual Amount 938 Zoning Description Sf/Ash

Listing provided courtesy of Advantage Management & Real Estate Sales Division. Information deemed reliable but not guaranteed accurate. Buyer to verify all information. © 2022 Wasatch Front Regional Multiple Listing Service, Inc., All Rights Reserved.


Based on information from the Wasatch Front Regional Multiple Listing Service, Inc. as of 2022-01-26T04:51:24.56. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or the MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed accurate. Buyer to verify all information.
 
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6925 S Union Park Ave., Suite 600
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