Off Market

270 E 5100 S, Washington Terrace, UT 84405

$797,900

7 bed · 4 bath · 5,200 sqft

Once in a lifetime opportunity to buy an extremely profitable real estate rental business. This is not a typical duplex; it is a gorgeously remodeled, nightly rental business that cash flows an average of $5,500 over the last 12 months ($3,900 a month from nightly rentals and $1,625 from the long-term tenants with a corporate lease). Long-term tenant's lease ends in September but they have asked for an additional two year lease. With a gross operating income of $66,000 a year, at a 47% expense ratio, this property offers a 4.3% cap rate! Owners currently manage the property themselves and have an expense ration in the low 20 percent range. Even with 8-10% property management fee this investment pays a higher return than other investments in the area. To add to the attractiveness of this property, the furnishings in the nightly rental will be sold with the property. If you want to invest in real estate and buy a successful business at the same time, this property is for you! This legal nightly rental boasts a 5-star VRBO rating, a newer roof (2015) and water heaters (2016 and 2020), a fully fenced yard-includes mature fruit and walnut trees, a basketball court, oversized 4-car garage which could be rented separately for RV or boat storage-increasing your already amazing cashflow. Nestled in a quiet neighborhood, this energy efficient property is close to nearby universities, business centers, ski resorts, and outdoor activities; providing your guests with a luxurious, comfortable and refined experience. Square footage figures are provided as a courtesy estimate only and were obtained from owner. Buyer is advised to obtain an independent measurement.

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Listing courtesy of Clayton Morgan, Ask Andrew Real Estate.

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