13 days on rocket

1180 S Cove View Rd, Richfield, UT, 84701

$2,499,000

Home List Price

$10,000*

Closing Credit

14 Bedrooms
22 Baths
13,920 SqFt
$180/SqFt
Multi

Location

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1180 S Cove View Rd, Richfield$2,499,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
ParkingParking: Uncovered
Year Built1947
HeatingElectric
ViewMountain(s)
MLS #2053214
Lot Size1.24 Acres
StatusActive

About 1180 S Cove View Rd

Prime investment opportunity in Richfield, Utah! This 20-unit multi-family complex is situated in a rapidly growing area, thanks to Snow College's expanding presence and the region's strong economic development. Recently remodeled from a former hotel into modern apartments, the property offers significant upside potential with 13 of the 20 units currently leased. Conveniently located in an up-and-coming part of town, tenants enjoy proximity to Walmart, Home Depot, Snow College, Richfield High School, and quick freeway access. This property is priced at an attractive 7% cap rate and comes with the added benefit of a professional property manager with a stellar track record of overseeing 150+ doors in the Richfield area. The property manager is eager to stay on and continue leasing the remaining units while ensuring smooth operations for this turnkey investment. With strong rental demand fueled by Snow College's growth and a desirable location, this property presents an exceptional opportunity for seasoned and new investors alike. Don't miss your chance to secure this high-potential asset in the thriving Richfield market.

Property Details

Property Features

Property Information:

  • Architectural Style: Stories: 1
  • Year Built: 1947
  • Stories: 0
  • Living Area: 13,920 SqFt

Listing Office:

  • Office Name: Real Broker, LLC
  • Listing Agent: Adam Lancaster

Interior Features

Interior Information:

  • Flooring Type: Tile
  • Interior: Disposal, Range/Oven: Built-In

Bedroom and Bathroom Information:

  • Total Bedroom Count: 14

Exterior Features

Exterior Information:

  • Private Pool: No
  • View: Mountain(s)
  • Exterior: Double Pane Windows, Porch: Open, Storm Doors

Parking Information:

  • Attached Garage: No
  • Parking: Parking: Uncovered

Lot Features

Lot Information:

  • Lot Size: 1.24 Acres

Utilities

Utilities Information:

  • Heating: Electric

Price Information

Listing Price Info

Price Summary:

  • List Price: $2,499,000
  • Price Per SqFt: $180/SqFt

Tax Information:

  • Annual Amount: $1,840
  • Tax Year: 2020
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Housing Market Comparison

See how this home compares to others in Richfield, UT.

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Richfield, UT

City

Med. List Price

$349K

Med. Price/SqFt

$154

Avg. Days On Market

91

1180 S Cove View Rd vs Richfield

13 DAYS ON ROCKET

-78 Days

$2,499,000

+$2.1M More

$180/SqFt

+$26 More

KEY TAKEAWAY

This property is $2.1M more than the Median List Price and $26/SqFt more than other homes in Richfield, UT.

Based on homes listed in November 2024

MLS Details

MLS Information:

  • MLS Name: UtahRealEstate.com
  • MLS Number: #2053214

Listing Office:

  • Office Name: Real Broker, LLC
  • Listing Agent: Adam Lancaster

IDXBased on information from UtahRealEstate.com All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or the MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Information deemed reliable but not guaranteed accurate. The compilation of listings and each individual listing are Copyright © 2024 UtahRealEstate.com All rights reserved.


Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/18/2024, 11:20:56 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2020$1,840$137,500
2019$1,940$137,500
2017$1,940$294,420

History based on county public records data.

Payment Calculator

$12.5K

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$7,559

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-4521487
6
/10

  • Pahvant School

  • 520 N 300 W

  • 1.67 miles

  • Public District Grades 3-5

school-card-donut-4521488
6
/10

  • Monroe School

  • 40 W Center St

  • 8.39 miles

  • Public District Grades KG-5

school-card-donut-4521489
5
/10

  • Salina School

  • 210 W 300 N

  • 19.08 miles

  • Public District Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $57,358. Most Richfield, UT residents have annual incomes between $35k-100k. Most families are married, with kids. Most residents in this area have post secondary degree education.

All data provided by Home Junction and Claritas

Rocket Homes›Utah›Sevier County›Richfield›84701›1180 S Cove View Rd

This home is located at 1180 S Cove View Rd in Richfield, UT and zip code 84701. This 13,920 square foot home, which was built in 1947, sits on a 1.24 acre lot. Features: 14 bedrooms, 22 bathrooms. It has been listed on Rocket Homes since December 04, 2024 and is currently priced at $2,499,000.

The inventory of homes for sale in Richfield, UT between October 2024 and November 2024 increased by 30%. The median list price of listings available in November 2024 was $349,000, while the average time on the real estate market was 91 days.

From Rocket Homes Real Estate and based on county public records data.

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