1. Utah
  2. Springville
  3. 745 S HARRISON DR #37
$2,325,000

745 S HARRISON DR #37, Springville, UT 84663

  • 20 beds |
  • 15 baths |
  • 8,625 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 2025
  • Property Lot Size Icon6,534sqft lot
  • Property Parking Icon 10 car garage
  • Property Price Per Square Feet Icon $270/sqft
  • Property List Date Icon Listed 1 month ago

Property Description

Springville, Utah | 5-Plex Investment Opportunity Brand new 5-unit townhome building hitting the market-designed for the investor who wants both stability and appreciation upside. Each unit offers 4 bedrooms, 2.5 bathrooms, modern finishes, private balconies, 2-car garages, and functional layouts built for long-term tenant demand. Income Snapshot (Pro Forma): Monthly Rent per Unit: $2,318 Gross Scheduled Income: $139,080/year Net Operating Income (NOI): $97,438/year Cap Rate: 4.23% (based on bulk price of $2,325,000) Operating Assumptions: Property Taxes: $15,640/year (Utah County, non-owner occupied) Insurance: $3,750/year ($750 per unit) Management: 8% ($11,126/year) Maintenance (new build): 3% ($4,172/year) Vacancy: 5% ($6,954/year) Investor Highlights: Bulk Discount Pricing: $465,000 per unit (below retail comps; one unit already appraised at $480,000). Turnkey New Construction: Minimal maintenance in early years, maximizing NOI. Tenant-Friendly Design: Large bedrooms, full laundry rooms, walk-in pantries-features that command premium rents and tenant retention. Prime Location: 3 minutes to I-15, 1 minute to schools and parks, 5 minutes to Walmart/Smith's Marketplace, and minutes from Provo/Orem employment hubs. 1031 Exchange Ready: Strong cash flow with long-term appreciation in one of Utah's fastest-growing corridors. This is not a "what if" deal-this is new construction with completed phase comps already proving value. Whether you're looking to roll gains via a 1031 or lock in a long-term hold in Utah County, this 5-plex checks the boxes for stability, growth, and tenant demand. Subdivision maps, floorplans, and appraisal docs available upon request. Square footage figures are provided as a courtesy estimate only and were obtained from construction plans. Buyer is advised to obtain an independent measurement.

Listing Status:
Active
Date Added:
August 29, 2025 at 06:00AM
Listing Office:
Equity Real Estate (Premier Elite) : 801-651-3071
Listing Agent:
Luke Kennard : 385-321-0570
MLS ID:
2109234
  • General: Bath: PrimaryCloset: Walk-InDisposalKitchen: UpdatedRange/Oven: Free Stdng.Dishwasher: Built-In
  • Heating: Gas: Central
  • General: BalconyPatio: CoveredSliding Glass Doors
  • Style: Five-Plex
  • Parking: Parking spaces: 10
  • Roofing: Asphalt
  • Windows: None
  • General: Und. Const.
  • HOA Amenities: Picnic AreaPlayground700.0Monthly
  • Originating MLS: UtahRealEstate.com
  • School District: Nebo
  • County: Utah
  • Topography: Road: PavedTerrainFlatView: Mountain
  • Zoning: Single-Family55-991-0037
  • View: Mountain(s)View
  • Current Use: Residential
  • Utilities: Natural Gas ConnectedElectricity ConnectedSewer ConnectedWater Connected
  • Water: Culinary
  • Sewer: Sewer: Connected
  • Source: UtahRealEstate.com

This listing courtesy of Luke Kennard, Equity Real Estate (Premier Elite)

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

Ready to Start a VA Loan?

Get Started Veterans United Home LoansNMLS #1907  †
Get Prequalified »
Interest rates used in the VA mortgage calculator are shown for illustrative purposes only. Your rate may differ based on a variety of factors, including your credit score and the current market conditions. To get your personalized interest rate, start your quote online.

Location

Schools Nearby

A

Art City Elementary School

121 N 900 E, Springville, UT, 84663

Grades PK-5

0.79 miles away

B

Bridges Nebo Transition Center

165 S 700 E, Springville, UT, 84663

Grades PK-12

1.00 miles away

S

Springville High School

1205 E 900 S, Springville, UT, 84663

Grades 10-12

1.73 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.