2030 East Nevada Circle — Sale in Provo, UT

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Provo, UT 84606

Investment Figures

Cap rate
3.73%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

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. Investment Highlights: • Strong Rental Demand: Anchored by BYU and the Silicon Slopes tech corridor, Provo benefits from consistent renter demand, supporting stable occupancy and long-term rent growth. • Premium Unit Mix: Spacious two-bedroom layouts attract long-term tenants willing to pay higher rents, reducing turnover and supporting predictable, stable cash flow. • Immediate Value-Add Upside: Rents are 20%–30% below market, creating a clear value-add opportunity through light interior upgrades and NOI growth.

Market Context

This multifamily in Provo, UT is listed for sale. It is offered at an approximate 3.7% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 100 days. Compare it against other multifamily listings for sale in Provo, UT — view the full market.

Contact

Explore this market

Similar Multifamily Property for Sale in Provo, UT