2030 Nevada Cir - Multi-Family FOR SALE


Provo, UT 84606- Provo South
$1,225,000 USD
801-736-2654
2030 Nevada Cir, Provo, UT for Sale
$1,225,000 USD
Multi-Family - FOR SALE
1/7
null | Request Cap Rate

2030 Nevada Cir
Provo, UT 84606
Provo South


HIGHLIGHTS

  • STRONG RENTAL DEMAND: BYU and the Silicon Slopes tech corridor drive consistent renter demand, supporting stable occupancy and rent growth.
  • PREMIUM UNIT MIX: Spacious two-bedroom layouts attract long-term tenants, reduce turnover, and support predictable cash flow.
  • IMMEDIATE VALUE-ADD UPSIDE: Rents are 20%–30% below market, creating a clear path to NOI growth through light interior upgrades.

OVERVIEW

Marcus & Millichap is pleased to present Nevada Circle, a 6-unit multifamily community located in Provo, Utah—one of the Mountain West’s most dynamic, university-anchored rental markets. The property benefits from strong underlying demand driven by Brigham Young University’s 30,000+ student population and Provo’s position within the rapidly expanding Silicon Slopes tech corridor. This dual demand base supports sustained occupancy, consistent rent growth, and long-term investment stability. Nevada Circle features spacious two-bedroom floorplans that appeal to students, young professionals, and university staff seeking functional layouts and long-term housing options. The unit mix attracts stable tenants willing to pay premium rents, contributing to reduced turnover and predictable cash flow. Current in-place rents remain approximately 20%–30% below market, presenting a clear and immediate value-add opportunity through light interior renovations and targeted amenity enhancements. Strategic upgrades—including updated kitchens, flooring, and fixtures—can support mark-to-market rents while maintaining strong occupancy, creating a defined path to NOI expansion and accelerated equity growth. Positioned within one of Utah’s fastest-growing markets, Nevada Circle offers investors a compelling blend of stability, upside, and durable fundamentals.

FOR SALE DETAILS

PRICE

$1,225,000 USD

PRICE/SF

$224 USD /SF

# OF UNITS

6

PRICE/UNIT

$204,167

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Nevada Circle

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1978

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

36-141-0016

ASK ABOUT THIS PROPERTY

Jacob MilesMarcus & MillichapMore Info
801-736-2654

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Jacob MilesMarcus & MillichapMore Info
801-736-2654

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