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$3,799,000
Est. payment /mo
11,920 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 11,920 sqft
Price per Sqft $318
Subdivision Cedar City
MLS Listing ID 113464
Construction Status Existing
Year Built 2018
Annual Tax Amount $5,719
Lot Size 0.274 Acres
Acres 0.41
Property Sub-Type Multi Family
Source Iron County Board of REALTORS®
Property Description
University Lofts - Building B - Prime Student Housing Investment | 52-bd Apartment Complex. Exceptional opportunity to own a 7-unit 52-bedroom/52-bathroom apartment complex purpose-built for premium student housing just one block from Southern Utah University. This property is 100% occupied, providing immediate cash flow for investors seeking a stable and profitable asset in a thriving rental market. Constructed with quality and longevity in mind, the building features 5/8'' drywall for added fire resistance, sound privacy, and durability, acoustically insulated interior walls & solid core interior doors throughout creating a quiet and comfortable environment highly valued by tenants. The property is comprised of two distinct parcels, potentially permitting financing under Fannie Mae guidelines rather than commercial financing. Buyer is advised to independently verify all financing options. Sale includes the adjacent parking lot on 900 West, providing additional parking for tenants. (Building A is also available, under separate ownership, providing the rare opportunity to acquire both buildings and own the entire University Lofts complex a premier student housing package with exceptional performance and future potential.)
Location
State UT
County Iron
Community Cedar City
Interior
Heating Natural Gas, Forced Air
Laundry Yes
Exterior
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Electric Separate, Gas Separate, Culinary, City
Building
Structure Type Frame,Stucco
New Construction No
Construction Status Existing
Others
Senior Community No
Tax ID B-0121-0003-0000, B-0121-0000-0000
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Listed by ERA Realty Center
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