349 1st Ave - Apartments FOR SALE


Salt Lake City, UT 84103- Greater Avenues
$1,540,000 USD
801-303-5569
349 1st Ave, Salt Lake City, UT for Sale
$1,540,000 USD
Apartments - FOR SALE
1/7
null | Request Cap Rate

349 1st Ave
Salt Lake City, UT 84103
Greater Avenues


HIGHLIGHTS

  • Flexible Use in a Prime Location
  • Attractive Unit Mix & Upside Potential
  • Salt Lake City Market Strength

OVERVIEW

Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire Downtown Commons I (“DTC I” or the “Property”), an 11-unit student housing apartment building located at 349 East 1st Avenue, Salt Lake City, Utah. Previously operated as student housing for the University of Utah, the Property will be sold vacant, offering flexibility for a range of future uses. These include conversion to traditional multifamily housing or continued use as student housing. DTC I features on-site laundry facilities, a community room, and is conveniently located less than three miles from the University of Utah. This offering represents a compelling opportunity for investors seeking a bite-sized entry point into multifamily within a strong submarket in Salt Lake City’s growing urban core.

FOR SALE DETAILS

PRICE

$1,540,000 USD

PRICE/SF

$127 USD /SF

# OF UNITS

11

PRICE/UNIT

$140,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Downtown Commons I

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1980

PARKING SPACES

41

LAND DETAILS

LAND ACRES

0.58 AC

LAND SF

25,265 SF

ZONING

RMF-35

APN/PARCEL ID

09-31-455-021-0000,09-31-455-022-0000

ASK ABOUT THIS PROPERTY

JT ReddCushman & WakefieldMore Info
801-303-5569

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JT ReddCushman & WakefieldMore Info
801-303-5569

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