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404 E 5600 S 31 Unit Apartment Building $10,500,000 ($338,710/Unit) Salt Lake City, UT 84107
INVESTMENT HIGHLIGHTS
- Value Add
- Central Murray
- 31 Unit Multi Family
EXECUTIVE SUMMARY
Nestled in the core of Salt Lake County, Murray is fondly referred to as the “Hub of Salt Lake County.” Its central position provides residents with convenient access to major transportation routes, including I-15 and I-215, as well as TRAX light rail. Murray boasts a thriving economic landscape supported by various industries, making it an attractive area for both businesses and residents. Local amenities include diverse retail options, quality healthcare facilities such as Intermountain Medical Center, and abundant recreational opportunities at nearby parks and trails. Its blend of suburban comfort and urban access continues to draw steady rental demand and long-term property appreciation.
This newly renovated 39-unit multifamily property offers an exceptional buy-and-hold opportunity in the heart of Murray, Utah. Originally built in 1969, it has been tastefully upgraded in 2023, featuring modern interiors and community amenities. Residents enjoy a brand-new fitness center, resident lounge, fire pits, and a spacious BBQ courtyard for social gatherings. Each unit comes with an individual locked storage room, while assigned covered parking ensures convenience and security. The property spans 2.6 acres, providing ample green space for relaxation and recreation. With 79.49% occupancy, there’s immediate room to increase rental income by leasing the remaining eight vacant units. Proximity to shopping, healthcare, and public transit boosts the property’s long-term investment appeal. Priced at $10,500,000, this complex presents robust upside potential in one of Utah’s most vibrant submarkets.
This newly renovated 39-unit multifamily property offers an exceptional buy-and-hold opportunity in the heart of Murray, Utah. Originally built in 1969, it has been tastefully upgraded in 2023, featuring modern interiors and community amenities. Residents enjoy a brand-new fitness center, resident lounge, fire pits, and a spacious BBQ courtyard for social gatherings. Each unit comes with an individual locked storage room, while assigned covered parking ensures convenience and security. The property spans 2.6 acres, providing ample green space for relaxation and recreation. With 79.49% occupancy, there’s immediate room to increase rental income by leasing the remaining eight vacant units. Proximity to shopping, healthcare, and public transit boosts the property’s long-term investment appeal. Priced at $10,500,000, this complex presents robust upside potential in one of Utah’s most vibrant submarkets.
PROPERTY FACTS Under Contract
| Price | $10,500,000 | Building Class | C |
| Price Per Unit | $338,710 | Lot Size | 2.62 AC |
| Sale Type | Investment | Building Size | 39,374 SF |
| Sale Condition | 1031 Exchange | No. Stories | 3 |
| No. Units | 31 | Year Built | 1969 |
| Property Type | Multifamily | Tenancy | Single |
| Property Subtype | Apartment | Parking Ratio | 1.93/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-M-15 | ||
| Price | $10,500,000 |
| Price Per Unit | $338,710 |
| Sale Type | Investment |
| Sale Condition | 1031 Exchange |
| No. Units | 31 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.62 AC |
| Building Size | 39,374 SF |
| No. Stories | 3 |
| Year Built | 1969 |
| Tenancy | Single |
| Parking Ratio | 1.93/1,000 SF |
| Zoning | R-M-15 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Carpet
- Smoke Free
SITE AMENITIES
- Courtyard
- Fenced Lot
- Property Manager on Site
- Smoke Free
- Elevator
PROPERTY TAXES
| Parcel Number | 22-18-177-045-0000 | Improvements Assessment | $4,451,700 |
| Land Assessment | $4,149,400 | Total Assessment | $8,601,100 |
PROPERTY TAXES
Parcel Number
22-18-177-045-0000
Land Assessment
$4,149,400
Improvements Assessment
$4,451,700
Total Assessment
$8,601,100
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404 E 5600 S
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