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Investment Opportunity with Immediate Income & Future Expansion Potential 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.
| DAYS ON MARKET | 2 | LAST UPDATED | 8/12/2026 |
|---|---|---|---|
| TRACT | Not Applicable | YEAR BUILT | 1985 |
| COMMUNITY | 01 – Cedar City | COUNTY | Iron |
| STATUS | Active | PROPERTY TYPE(S) | Commercial |
| ADDITIONAL DETAILS | |
| APPLIANCES | Electric Water Heater |
|---|---|
| AREA | 01 – Cedar City |
| CONSTRUCTION | Frame, Shingle Siding |
| HEAT | Baseboard, Forced Air, Heat Pump, Natural Gas |
| INTERIOR | High Visibility, Multi-Story Building, Paved |
| LOT | 0.4 acre(s) |
| SUBDIVISION | Not Applicable |
| TAXES | 1581.77 |
| UTILITIES | Natural Gas Connected, Sewer Connected |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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