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701 E 2nd Ave
Salt Lake City, UT 84103
Langford House Apartments · Multifamily Property For Sale
·
7 Units
PROPERTY FACTS
| No. Units | 7 | Lot Size | 0.12 AC |
| Property Type | Multifamily | Building Size | 6,635 SF |
| Property Subtype | No. Stories | 4 | |
| Apartment Style | Garden | Year Built/Renovated | 1931/2018 |
| Building Class | B | ||
| Zoning | SR-1 Multi | ||
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.12 AC |
| Building Size | 6,635 SF |
| No. Stories | 4 |
| Year Built/Renovated | 1931/2018 |
| Zoning | SR-1 Multi |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Storage Space
- Washer/Dryer
- Tile Floors
- Kitchen
- Granite Countertops
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Wi-Fi
- Yard
- Grill
- Window Coverings
SITE AMENITIES
- Trash Pickup - Curbside
- Bicycle Storage
ABOUT 701 E 2ND AVE , SALT LAKE CITY, UT 84103
Trophy location in the heart of the Avenues offers investors top rents and low vacancy. New price yields 5.96% in place Cap Rate (6.43% Proforma), a projected 28% Internal Rate of Return (IRR) and 3.26x Equity Multiple for a 5 year hold. Completely new units blend modern amenities with historic details that tenants desire. Attractive seller financing available as a short term bridge to permanent financing. Property is offered with 100% rent guarantee for 12 months until property is stabilized. Designed by CRSA, a top architecture firm specializing in historic preservation. Completely turn-key with all new plumbing and electrical service to the building. New appliances, cabinets, quartz counters, subway tile backsplash and tub surrounds. High end designer grade fixtures include LED lighting, low-flow faucets and toilets. Includes 2 car garage, 2 parking spots plus endless street parking around the church. Please review the attached Offering Memoranda for complete property information.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | $1,295 | 506 - 614 |
| 2+1 | 1 | $1,650 | 836 |
PROPERTY TAXES
| Parcel Number | 09-32-354-013-0000 | Improvements Assessment | $1,748,000 |
| Land Assessment | $318,400 | Total Assessment | $2,066,400 |
PROPERTY TAXES
