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Castle Heights 141 E 1st Ave 32 Unit Apartment Building $6,700,000 ($209,375/Unit) Salt Lake City, UT 84103
Executive Summary
Located in the heart of downtown Salt Lake City's Avenues neighborhood, Castle Heights Apartments is one of the cities most iconic multifamily buildings. 32-units just steps from Temple Square, City Creek, dining, employment, and public transit. The property includes 27 one-bedroom units, 4 studios, and 1 two-bedroom. Some interior cosmetic upgrades were completed in 2021, including new cabinets, countertops, and stainless steel appliance, but more work remains. Offered at $215,625 per unit, this is a compelling value-add opportunity in a premier, walkable downtown location with strong long-term upside.
Property Facts
| Price | $6,700,000 | Building Class | C |
| Price Per Unit | $209,375 | Lot Size | 0.38 AC |
| Sale Type | Investment | Building Size | 30,838 SF |
| No. Units | 32 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1930/2021 |
| Property Subtype | Apartment | Parking Ratio | 0.81/1,000 SF |
| Apartment Style | Mid-Rise | ||
| Zoning | RMF-75 - RMF - 75 | ||
| Price | $6,700,000 |
| Price Per Unit | $209,375 |
| Sale Type | Investment |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.38 AC |
| Building Size | 30,838 SF |
| No. Stories | 4 |
| Year Built/Renovated | 1930/2021 |
| Parking Ratio | 0.81/1,000 SF |
| Zoning | RMF-75 - RMF - 75 |
Amenities
Unit Amenities
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Range
- Views
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | 600 |
| 1+1 | 27 | - | 620 - 750 |
| 2+1 | 1 | - | 875 |
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Moderately walkable
70/100
Moderately drivable
60/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 09-31-379-018-0000 | Improvements Assessment | $2,943,500 |
| Land Assessment | $3,105,000 | Total Assessment | $6,048,500 |
Property Taxes
Parcel Number
09-31-379-018-0000
Land Assessment
$3,105,000
Improvements Assessment
$2,943,500
Total Assessment
$6,048,500
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Castle Heights | 141 E 1st Ave
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