245 S 800 E - Apartments FOR SALE


Salt Lake City, UT 84102- East Central
$1,999,000 USD
435-851-0951
245 S 800 E, Salt Lake City, UT for Sale
$1,999,000 USD
Apartments - FOR SALE
1/9
null | 5.29% Cap Rate

245 S 800 E
Salt Lake City, UT 84102
East Central


HIGHLIGHTS

  • Comprehensive 2021 Renovation: The property was extensively remodeled in 2021. Upgrades included new interiors, plumbing, electrical, HVAC systems.
  • Onsite Storage Units: The building features eight private storage units, currently included in the rent. Upside Opportunity.
  • Dedicated Covered Parking: Each unit benefits from a reserved, covered parking space.
  • High-Speed Connectivity: The property is fully wired for CenturyLink high- speed internet.
  • 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.

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,999,000 USD

PRICE/SF

$358 USD /SF

# OF UNITS

8

PRICE/UNIT

$249,875

CAP RATE

5.29%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,712 SF

ZONING

RMF35

APN/PARCEL ID

16-05-164-001-0000,16-05-164-002-0000

ASK ABOUT THIS PROPERTY

Jake NielsonNewmark Mountain WestMore Info
435-851-0951

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Jake NielsonNewmark Mountain WestMore Info
435-851-0951

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