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2030 Nevada Cir
Provo, UT 84606
Nevada Circle · Multifamily Property For Sale
·
6 Units
Investment Highlights
- STRONG RENTAL DEMAND: BYU and the Silicon Slopes tech corridor drive consistent renter demand, supporting stable occupancy and rent growth.
- IMMEDIATE VALUE-ADD UPSIDE: Rents are 20%–30% below market, creating a clear path to NOI growth through light interior upgrades.
- PREMIUM UNIT MIX: Spacious two-bedroom layouts attract long-term tenants, reduce turnover, and support predictable cash flow.
Executive Summary
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.
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.
Property Facts
| Price Per Unit | $284,139 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.27 AC |
| No. Units | 6 | Building Size | 5,463 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1978 |
| Apartment Style | Garden |
| Price Per Unit | $284,139 CAD |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 5,463 SF |
| No. Stories | 3 |
| Year Built | 1978 |
Property Taxes
| Parcel Number | 36-141-0016 | Improvements Assessment | $811,918 CAD |
| Land Assessment | $417,371 CAD | Total Assessment | $676,109 CAD |
Property Taxes
Parcel Number
36-141-0016
Land Assessment
$417,371 CAD
Improvements Assessment
$811,918 CAD
Total Assessment
$676,109 CAD
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