111 S 1000 E - Apartments FOR SALE


Provo, UT 84606
$9,590,733 USD
801-303-5555
111 S 1000 E, Provo, UT for Sale
$9,590,733 USD
Apartments - FOR SALE
1/8
null | 5.75% Cap Rate

111 S 1000 E
Provo, UT 84606


HIGHLIGHTS

  • Minimal repair and maintenance costs to uphold the asset’s condition.
  • Extensively renovated in 2023-24.
  • Less than two miles from Brigham Young University (BYU) and under a mile from Provo’s historic downtown.

OVERVIEW

Cushman & Wakefield as exclusive advisor is pleased to present the opportunity to acquire Sierra Ridge Apartments (the “Property” or “Sierra Ridge”), a 32-unit apartment community in Provo, Utah. Provo is at the epicenter of Utah County, recognized for its robust demographics, proximity to jobs & higher education, healthy affordability ratios, and unparalleled access to outdoor recreation. Built in 1978 on an expansive 1.54-acre site, Sierra Ridge offers residents a quiet residential experience without compromising access and convenience. Situated less than two miles from Brigham Young University (BYU) and under a mile from Provo’s historic downtown, the Property’s location ensures direct access to the City’s most coveted amenities. Current ownership has completed an extensive renovation project, including interior and exterior enhancements, elevating the overall Property while presenting future owners with additional value-add opportunities.

FOR SALE DETAILS

PRICE

$9,590,733 USD

PRICE/SF

$283 USD /SF

# OF UNITS

32

PRICE/UNIT

$299,710

CAP RATE

5.75%

% LEASED

81%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sierra Ridge-32 Units

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1978

PARKING SPACES

43

LAND DETAILS

LAND ACRES

1.54 AC

LAND SF

67,082 SF

ZONING

RC

APN/PARCEL ID

22-021-0044

ASK ABOUT THIS PROPERTY

Kip PaulCushman & WakefieldMore Info
801-303-5555

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Kip PaulCushman & WakefieldMore Info
801-303-5555

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.