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INVESTORS! This is a newer fourplex in the Pineridge Farms apartment complex in Payson, Utah. Gross rent represents 6.44% cap rate at the asking price! The property consists of four units, each 2 bed, 2 bath. HOA fees are $1040 per month. Current leases are 12 months and are as follows: Unit A $1409.50 Unit B $1485.50 Unit C $1308 Unit D $1438 TOTAL - $5641.00 Pictures are not of the actual units, but merely a representation provided by the management company. Actual properties were purchased per-construction by the current owner, who opted to purchase several upgrades offered by the developer, including engineered wood floors, granite countertops, and a stainless steel package for the kitchen, meaning tenants will prefer these units over ones without the upgrades. No showings will be available until the property is under contract so as to not disturb tenants. The property manager will arrange showings during the due diligence period. The property is currently professionally managed by Maxx Property Management, which offers investors 7% management fee on gross rents collected and is the HOA-designated master property management company for this development. HOA Services include: Water, Sewer Landscape Maintenance, Snow Removal, Garbage Service, Internet, Smart Home, and Master Insurance Policy features. Property is being sold BY OWNER.
| DAYS ON MARKET | 116 | LAST UPDATED | 8/8/2024 |
|---|---|---|---|
| TRACT | RIDGE | YEAR BUILT | 2021 |
| COMMUNITY | Payson; Elk Rg; Salem; Wdhil | COUNTY | Utah |
| STATUS | Active | PROPERTY TYPE(S) | Multi Family |
| Elementary School | Taylor |
|---|---|
| Jr. High School | Payson Jr |
| High School | Payson |
| PRICE HISTORY | |
| Prior to Aug 8, '24 | $1,050,000 |
|---|---|
| Aug 8, '24 - Today | $995,000 |
| ADDITIONAL DETAILS | |
| AIR | None |
|---|---|
| AREA | Payson; Elk Rg; Salem; Wdhil |
| CONSTRUCTION | Stucco |
| HEAT | Electric |
| HOA DUES | 1040|Monthly |
| LOT | 871 sq ft |
| LOT DIMENSIONS | 0.0x0.0x0.0 |
| STYLE | Stories: 2 |
| SUBDIVISION | RIDGE |
| TAXES | 5141 |
| UTILITIES | Sewer Connected, Water Connected |
| ZONING | Multi-Family |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Pelton to contact you even if your name is on a Federal or State
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Listed with Trelora Realty Inc.
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