Description
This is a a shovel-ready 4plex project in Orem specifically for seniors. Entitlements are in place and building plans have been approved by the city. Seller has even paid the permit fee--you get the permit as part of the purchase. It's literally shovel-ready because you can immediately start digging. Property has entitlements and building for a senior housing fourplex with rent limits for 3 bed units are $1336 but more likely to rent in $1100-1200 range. Seller has had the entitlements for a couple of years and permit ready for 8 months. He moved to Hawaii and just too hard to build from there. It's an awesome project targeting an ideal demographic. You have to rent to seniors who make up to $48k per year. Basically, middle class seniors--can you think of more stable and low-impact tenants? You have a little bit of hassle with with rent limits and income limits but should be easy enough to find great tenants who will stay long-term. Buyer/broker verify everything.
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0BEDS
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0.27ACRES
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0BATHS
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01/2 BATHS
School Information
Description
This is a a shovel-ready 4plex project in Orem specifically for seniors. Entitlements are in place and building plans have been approved by the city. Seller has even paid the permit fee--you get the permit as part of the purchase. It's literally shovel-ready because you can immediately start digging. Property has entitlements and building for a senior housing fourplex with rent limits for 3 bed units are $1336 but more likely to rent in $1100-1200 range. Seller has had the entitlements for a couple of years and permit ready for 8 months. He moved to Hawaii and just too hard to build from there. It's an awesome project targeting an ideal demographic. You have to rent to seniors who make up to $48k per year. Basically, middle class seniors--can you think of more stable and low-impact tenants? You have a little bit of hassle with with rent limits and income limits but should be easy enough to find great tenants who will stay long-term. Buyer/broker verify everything.
Based on information from the Wasatch Front Regional Multiple Listing Service, Inc. as of 2021-04-16T09:37:00.557. 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.The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed accurate. Buyer to verify all information.