32 E 1450 S - Excellent located 11 individual tax ID condos

We have available some hard to find multifamily units in Orem. Centrally located between the mall and UVU. Get them now before they hit the MLS as condo units. Excellent Location
* 2 fourplexes are nicer 1210 sqst units with single car garages
* The third fourplex is standard 2 up, 2 down, 975 sqft, 2 bd, 1ba variety with carport. One main level unit is not part of the sell
* Units are condominized and can be purchased or sold individually. You might as well get the economy of scale and purchase all 11 and sell the ones you don't want at a higher price
* Two units have been remodeled recently and are pretty nice, others will need some love over time
* Have dissolved the old non-functioning HOA and we are putting and brand new shiny one in its place
* There is some deferred maintenance and we've taken most of that in to account in the sale price
* Public transit stop a block away on University Parkway
So how did we land on the asking price? Follow me on this, management company figures CAP is something like 4.9 but they said forget it. Rents are under market at $1195/mo and there is a tremendous upside.
Previously listed for a few weeks at $925K per 4-plex and had ton of interest but had to pull the listing to fix the non-functioning HOA
I got come comps on similar 4-plex units built in the 1970's that sold within the last 3 months from Costar:
* One 4-plex in Orem $222K/door ($888K)
* Three 4-plexes in Orem $255K/door ($1,020,000)
* One more in Orem $259K/door (1,036,000)
* And another in Orem at 303K/door. (1,212,000)
These 11 units listed herein are at $190K/door. That's why if enterprising someone doesn't buy the whole bundle, units will be sold as condos at a higher rate.
Offered for sale by JD Brisk. I am an absentee principle in this property and a commercial Agent licensed with Colliers Int., Pleasant Grove, Utah. More about JD follow this link: https://services.ksl.com/real-estate-consultants/buy-sell-lease-jd-brisk-vp-colliers-int/234770
Property is co-listed with Jena Hunt, find the property also being marketed as condo units on the MLS (soon). Call/text her, (801-400-7787) she knows more than I do about these units if you want to buy one or more of the condo'd units.
Fine print: 2% commission to buyers agent. Info provided is believed to be correct but Buyer must do their own due-diligence
Video of the best unit here: https://www.youtube.com/watch?v=C9CvL0CeQeE