247 E Vine St - Apartments FOR SALE


Salt Lake City, UT 84107
$8,200,000 USD
801-736-2634
247 E Vine St, Salt Lake City, UT for Sale
$8,200,000 USD
Apartments - FOR SALE
1/8
null | 5.2% Cap Rate

247 E Vine St
Salt Lake City, UT 84107


HIGHLIGHTS

  • Located in central Murray with convenient access to I-15 and I-215.
  • Mark-to-Market Rent Growth – Opportunity to continue aligning in-place rents with current Murray market levels as leases roll.
  • Strong Long-Term Demand Drivers

OVERVIEW

Parkview On Vine is a well-located multifamily community situated along Vine Street in the heart of Murray, Utah. Positioned within one of Salt Lake County’s most established and supply-constrained rental corridors, the property benefits from immediate access to I-15, I-215, State Street retail, and Intermountain Medical Center. The offering consists of a professionally maintained multifamily community situated across two legal parcels, providing efficient site layout, functional unit designs, and strong tenant appeal. The property features attractive curb presence, on-site parking, and a location embedded within a mature residential neighborhood supported by stable demographics and longterm rental demand. Parkview On Vine offers investors a combination of in-place cash flow and future upside through continued rent growth, operational efficiencies, and strategic interior upgrades where applicable. The asset is well positioned to capitalize on Murray’s central location, strong employment base, and proximity to major retail and transit infrastructure. Priced at $8,200,000, Parkview On Vine represents an opportunity to acquire a stabilized multifamily investment in a high-demand Salt Lake County submarket with durable fundamentals and long-term appreciation potential.

FOR SALE DETAILS

PRICE

$8,200,000 USD

PRICE/SF

$245 USD /SF

# OF UNITS

31

PRICE/UNIT

$264,516

CAP RATE

5.2%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Murray Park View

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1970

PARKING SPACES

37

LAND DETAILS

LAND ACRES

0.9 AC

LAND SF

39,248 SF

ZONING

R-M

APN/PARCEL ID

22-07-177-012-0000,22-07-177-013-0000

ASK ABOUT THIS PROPERTY

Kris MortensenNewmark Mountain WestMore Info
801-736-2634

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Kris MortensenNewmark Mountain WestMore Info
801-736-2634

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