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$5,900,000
Est. payment /mo
72 Beds
24 Baths
16,988 SqFt
UPDATED:
10/01/2024 08:42 PM
Key Details
Property Type Multi-Family
Sub Type Twin
Listing Status Active
Purchase Type For Sale
Square Footage 16,988 sqft
Price per Sqft $347
MLS Listing ID 2026590
Style Other/See Remarks
Bedrooms 72
Full Baths 24
Construction Status Blt./Standing
HOA Y/N No
Year Built 2019
Annual Tax Amount $134,855
Lot Size 0.390 Acres
Acres 0.39
Lot Dimensions 0.0x0.0x0.0
Property Description
University Park Apartments, located at 225 E. 700 N., Provo, Utah, is one of Brigham Young University's closest off-campus student housing properties. Located only 75 yards from the southern border of BYU's campus, in the historic and student-dense Joaquin Neighborhood, University Park continuously enjoys full tenant occupancy due to its unbeatable next-door proximity to campus. While University Park used to be part of the tightly restricted BYU contracted housing, the university recently eliminated the need for students to live in contracted housing. University Park can now benefit from a broader renter base while having fewer landlord compliance requirements. This 2-story, all-brick property, built in 1971 and fully renovated in 2019, consists of 72 beds in twelve 3X2 units. Additionally, connected to the building is a 2 story, reinforced concrete, parking structure, which provides ample tenant parking. Provo, Utah was named the #1 strongest economy in the nation and enjoys a robust rental housing market. With its location just steps away from incredible outdoor recreation, popular restaurants and a wide variety of fun and enjoyable community locations and events, it has contributed to BYU becoming a destination for students from across the world. University Park has 100% occupancy and the overall off-campus vacancy rate at BYU is 1.6%.
Location
State UT
County Utah
Area Provo; Mamth; Springville
Rooms
Basement See Remarks
Interior
Fireplace No
Exterior
View Y/N No
Present Use Residential
Private Pool No
Building
Finished Basement 100
New Construction No
Construction Status Blt./Standing
Schools
Elementary Schools Provo Peaks
Middle Schools Centennial
High Schools Timpview
School District Provo
Others
Senior Community No
Tax ID 05-082-0007
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Listed by Redstone Residential Inc