221 N 600 W - Apartments FOR SALE


Salt Lake City, UT 84116- Central Salt Lake City
$1,290,000 USD
801-828-7290
221 N 600 W, Salt Lake City, UT for Sale
$1,290,000 USD
Apartments - FOR SALE
1/11
null | Request Cap Rate

221 N 600 W
Salt Lake City, UT 84116
Central Salt Lake City


HIGHLIGHTS

  • Underperforming rents-month to month leases
  • Value add Single Family homes and Duplex
  • Opportunity to work with the city to plat subdivision and individually sell assets
  • Convenient location to downtown

OVERVIEW

Below-Market Rental Portfolio with Value-Add Upside: Salt Lake City Graystone Capital Advisors is pleased to present 221 N 600 W, a cash-flowing, value-add investment opportunity in a prime Salt Lake City location. This offering comprises 0.41 acres on a single parcel featuring five residential rental units—three single-family homes and one duplex, currently generating $4,650 in monthly revenue (well below market). All units are leased month-to-month with rents significantly below market rates, presenting substantial upside potential through strategic improvements and rent optimization. Proforma financial estimates considering post renovation rental. Several scenarios exist, perhaps the most lucrative being individual sale of assets after implementing a subdivision plat with the city. Rent/Renovation Upside: The five existing units are leased month-to-month at rates below market, presenting upside opportunity through strategic renovations and rent optimization. With capital improvements, the property can command market-rate rents while attracting higher-quality tenants. The flexible lease structure allows for immediate implementation of a phased value-add strategy, enabling investors to systematically increase cash flow with minimal vacancy risk. *Home Sale Comps Available in deal room.

FOR SALE DETAILS

PRICE

$1,290,000 USD

PRICE/SF

$229 USD /SF

# OF UNITS

5

PRICE/UNIT

$258,000

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Value-Add: 3 SF HOMES, 1 DUPLEX (Salt Lake)

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1890

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.41 AC

LAND SF

17,860 SF

ZONING

SR-1A

APN/PARCEL ID

08-36-304-032-0000

ASK ABOUT THIS PROPERTY

Daniel FaleGraystone Capital AdvisorsMore Info
801-828-7290

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Daniel FaleGraystone Capital AdvisorsMore Info
801-828-7290

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.