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245 S 800 E
Salt Lake City, UT 84102
Multifamily Property For Sale
·
8 Units
Investment Highlights
- Comprehensive 2021 Renovation: The property was extensively remodeled in 2021. Upgrades included new interiors, plumbing, electrical, HVAC systems.
- Dedicated Covered Parking: Each unit benefits from a reserved, covered parking space.
- Prime “Walkable” Location: Boasting a Walk Score of 85 and a Bike Score of 91. Walking distance of Trolley Square, the TRAX light rail system.
- Onsite Storage Units: The building features eight private storage units, currently included in the rent. Upside Opportunity.
- High-Speed Connectivity: The property is fully wired for CenturyLink high- speed internet.
Executive Summary
Strategically located in the heart of the “East Central” neighborhood, this eight-plex represents a premier opportunity to acquire a turnkey, stabilized asset in one of Salt Lake City’s most high-demand rental corridors. This property consist of Eight fully renovated One Bed / One Bath Units.
Having undergone a comprehensive remodel in 2021, the property features modern interiors and updated systems. Fully updated interiors, plumbing, electrical, individual central air units, new roof, new water and sewer main line, and a new parking lot drainage system was installed to carry surface water around the building and out to the street, significantly reducing near-term capital expenditure risks for a new owner. Positioned perfectly between the University of Utah and Downtown Salt Lake City, the property caters to a high-quality tenant base of young professionals and students, ensuring consistently high occupancy.
Having undergone a comprehensive remodel in 2021, the property features modern interiors and updated systems. Fully updated interiors, plumbing, electrical, individual central air units, new roof, new water and sewer main line, and a new parking lot drainage system was installed to carry surface water around the building and out to the street, significantly reducing near-term capital expenditure risks for a new owner. Positioned perfectly between the University of Utah and Downtown Salt Lake City, the property caters to a high-quality tenant base of young professionals and students, ensuring consistently high occupancy.
Property Facts
| Price Per Unit | $249,875 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 5.29% | Building Size | 5,580 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1960/2021 |
| Property Subtype | Apartment | Parking Ratio | 1.79/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | RMF35 | ||
| Price Per Unit | $249,875 |
| Sale Type | Investment |
| Cap Rate | 5.29% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 5,580 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1960/2021 |
| Parking Ratio | 1.79/1,000 SF |
| Zoning | RMF35 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $1,300 | 600 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,536,200 | |
| Land Assessment | $452,900 | Total Assessment | $1,989,100 |
Property Taxes
Parcel Numbers
Land Assessment
$452,900
Improvements Assessment
$1,536,200
Total Assessment
$1,989,100
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