1,046 SqFt
1,046 SqFt
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 1,046 sqft
Price per Sqft $1,147
MLS Listing ID 116684
Construction Status Existing
Year Built 1985
Annual Tax Amount $1,581
Lot Size 1,046 Sqft
Acres 0.4
Property Sub-Type Apartment
Source Iron County Board of REALTORS®
Property Description
Exceptional opportunity to own a 5-unit apartment complex in one of Cedar City's most desirable rental locations. Situated in the heart of town directly across from East Elementary and just minutes from Southern Utah University, Cedar High School, shopping, dining, and medical facilities, this property offers consistent rental appeal and long-term investment potential.
Each of the five thoughtfully designed units features 2 bedrooms, 1.5 bathrooms, a unique three-level floor plan, a private 2-car garage, spacious living areas, upper-level bedrooms, in-unit laundry, generous storage, and two private decks. Quality construction includes 14" TJI floor systems and double insulated walls between units for exceptional sound reduction, privacy, and lasting durability.
Beyond the existing income-producing improvements lies one of this property's greatest assets--an oversized parcel with exceptional future development potential. The current improvements occupy only a portion of the property, leaving approximately half of the site available for future expansion. This presents a rare opportunity to increase density and maximize long-term returns, with the potential for additional multifamily development, garages, storage units, expanded parking, or other income-producing improvements, subject to buyer verification of zoning, density requirements, and city approvals.
Whether you're seeking a stable, cash-flowing investment or a property with significant value-add potential, opportunities like this are becoming increasingly rare. With strong rental demand, quality construction, a prime central location, and built-in expansion possibilities, this property offers the unique combination of immediate income today and substantial upside for tomorrow.
Location
State UT
County Iron
Community Not Applicable
Direction From 200 N, turn right onto 200 E, turn left onto Freedom Blvd, units are on the right.
Interior
Heating Natural Gas, Baseboard, Forced Air, Heat Pump
Laundry Yes
Exterior
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Electric Separate, Gas Separate, Culinary, City
Building
Structure Type Frame,Steel Siding
New Construction No
Construction Status Existing
Schools
High Schools Cedar
Others
Senior Community No
Tax ID B-0805-0000-0000
Nearby Locations
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "