$1,950,000

840 E 1550 S, Orem, UT 84097

  • 16 beds |
  • 12 baths |
  • 8,272 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1968
  • Property Lot Size Icon0.27acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $236/sqft
  • Property List Date Icon Listed 28 days ago

Property Description

Fantastic investment opportunity in a corridor with very strong rentability for similar units - Excellent location just minutes from UVU, Frontrunner, the University mall, etc. There are two 4-plex properties for sale, side-by-side, and the seller will only sell both together as a package to one buyer. Both roofs were fully replaced in 2024. The owner is a sweet older lady. She has not kept rents "at market" because she has felt bad raising rents or has given discounts for other reasons. Some tenants have been in the property for over 10 years. Some are related to the owner. Conservative pro-forma rents are $1,250/mo for 7 of the units, and $1,350 for the one that has been remodeled (See marketing brochure) - Total of $121,200 Gross Income Potential once all 8 units re-tenanted. All leases expire in June or July, such that the new owner will be able to reposition every unit to a market rent in a very timely fashion and should be a fairly simple process. You will see in the rent roll all the actual rents at the bottom of the MLS listings. See the attached marketing brochure which demonstrates what market rates are. There is an extra land parcel of significant size on the south part of the property currently a fenced-in grass area. This can potentially be monetized in the future through constructing undercover parking, storage. One unit was remodeled in 2023 for a family member. The rest have simply been maintained with appliances, carpet, furnaces, paint, etc, as needed. Property is sold as-is. Seller not interested in seller financing. Square footage figures are provided as a courtesy estimate only and are not guaranteed. Buyer is advised to obtain an independent measurement

Listing Status:
Active
Date Added:
April 14, 2026
Data Last Updated:
May 12, 2026 at 10:42PM
Listing Office:
Core Utah Real Estate : 801-787-7255
Listing Agent:
Kevin Ford : 801-473-6519
MLS ID:
2150457
  • General: Kitchen: UpdatedRange/Oven: Free Stdng.
  • Laundry: Electric Dryer Hookup
  • Flooring: CarpetLaminateTile
  • Heating: Gas: Central
  • Disability Feature: Accessible Doors
  • General: Entry (Foyer)
  • Style: Stories: 2
  • Parking: Parking: UncoveredParking spaces: 16
  • Roofing: Asphalt
  • Windows: None
  • General: Blt./Standing
  • Originating MLS: UtahRealEstate.com
  • School District: Alpine
  • County: Utah
  • Topography: Additional Land AvailableFenced: PartRoad: PavedSidewalksSprinkler: Auto-FullTerrainFlatView: Mountain
  • Landscaping: Landscaping: Full
  • Zoning: Multi-Family19-003-0093
  • View: Mountain(s)View
  • Current Use: Residential
  • Utilities: Natural Gas ConnectedElectricity ConnectedSewer ConnectedWater Connected
  • Water: Culinary
  • Sewer: Sewer: Connected
  • Source: UtahRealEstate.com
  • Exclusions: DryerMicrowaveWasher

This listing courtesy of Kevin Ford , Core Utah Real Estate

Monthly Payment

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

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