805-558-4574
1810 S Main St, Salt Lake City, UT for Sale
Apartments - FOR SALE
1/62
null | Request Cap Rate

1810 S Main St
Salt Lake City, UT 84115
People's Freeway


HIGHLIGHTS

  • Additional Information: Please call for more details and visit the website link below
  • Strategic QCT Location: HUD-Designated Census Tract
  • Exceptional Affordability Advantage: 17.3% RTI Ratio Providing $1,500+/Month Cushion to the 30% Threshold
  • Dual Investment Pathway Flexibility: Appeals to Both Value-Add Investors and Mission-Driven Affordable Housing Converters
  • Significant Rental Growth Runway: Below-Market Rents Averaging $1,084/Month Across 174 Units with 109,048 SF

OVERVIEW

Jones Lang LaSalle Americas, Inc., as exclusive advisor, is pleased to present for sale Towers on Main (the "Property"), a 174-unit multifamily community located in Salt Lake City, Utah. Delivered in 1963, the Property offers residents an affordable living experience through classic mid-century architecture and functional floor plans across a diverse unit mix of studios, 1, 2, and 3-bedroom residences averaging 618 square feet. Towers on Main delivers consistent operational performance with 90% occupancy—a direct result of the property's compelling affordability and strong appeal to workforce renters in one of the Intermountain West's fastest growing urban cores. The asset's strategic South Salt Lake location offers immediate freeway access to both Interstate 15 and Interstate 80, placing residents within minutes of downtown Salt Lake City's employment centers, the University of Utah, Salt Lake International Airport, and premier lifestyle destinations across the Wasatch Front. With a 17.3% rent-to-income ratio, the submarket's exceptional affordability provides significant runway for rental growth while maintaining the property's competitive edge and quality-of-life proposition. Towers on Main presents a unique investment thesis that appeals to both value-add investors and affordable housing converters. For value-add buyers, the Property offers the ability to capitalize on below-market rents, implement interior and exterior upgrades, and capture meaningful upside in a market supported by transformational redevelopment catalysts and strong demographic tailwinds. For mission-driven affordable housing investors, the Property's location within a HUD-designated Qualified Census Tract (QCT) unlocks a substantial basis boost for LIHTC conversion strategies—delivering approximately 30% more tax-credit equity than comparable deals outside a QCT. This rare combination of operational stability, repositioning potential, and tax-credit eligibility positions Towers on Main as one of the most flexible and compelling investment opportunities in the Salt Lake City market.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

174

CAP RATE

Request Cap Rate

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Towers on Main

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

7

YEAR BUILT

1963

PARKING SPACES

200

LAND DETAILS

LAND ACRES

3.12 AC

LAND SF

135,907 SF

ZONING

RMF45

APN/PARCEL ID

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805-558-4574

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805-558-4574

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