404 E 5600 S - Apartments FOR SALE


Salt Lake City, UT 84107
$10,500,000 USD
801-609-8342
404 E 5600 S, Salt Lake City, UT for Sale
$10,500,000 USD
Apartments - FOR SALE
1/107
null | Request Cap Rate

404 E 5600 S
Salt Lake City, UT 84107


HIGHLIGHTS

  • Value Add
  • 31 Unit Multi Family
  • Central Murray

OVERVIEW

Nestled in the core of Salt Lake County, Murray is fondly referred to as the “Hub of Salt Lake County.” Its central position provides residents with convenient access to major transportation routes, including I-15 and I-215, as well as TRAX light rail. Murray boasts a thriving economic landscape supported by various industries, making it an attractive area for both businesses and residents. Local amenities include diverse retail options, quality healthcare facilities such as Intermountain Medical Center, and abundant recreational opportunities at nearby parks and trails. Its blend of suburban comfort and urban access continues to draw steady rental demand and long-term property appreciation. This newly renovated 39-unit multifamily property offers an exceptional buy-and-hold opportunity in the heart of Murray, Utah. Originally built in 1969, it has been tastefully upgraded in 2023, featuring modern interiors and community amenities. Residents enjoy a brand-new fitness center, resident lounge, fire pits, and a spacious BBQ courtyard for social gatherings. Each unit comes with an individual locked storage room, while assigned covered parking ensures convenience and security. The property spans 2.6 acres, providing ample green space for relaxation and recreation. With 79.49% occupancy, there’s immediate room to increase rental income by leasing the remaining eight vacant units. Proximity to shopping, healthcare, and public transit boosts the property’s long-term investment appeal. Priced at $10,500,000, this complex presents robust upside potential in one of Utah’s most vibrant submarkets.

FOR SALE DETAILS

PRICE

$10,500,000 USD

PRICE/SF

$450 USD /SF

# OF UNITS

31

PRICE/UNIT

$338,710

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1969

PARKING SPACES

76

LAND DETAILS

LAND ACRES

2.62 AC

LAND SF

114,127 SF

ZONING

R-M-15

APN/PARCEL ID

22-18-177-045-0000

ASK ABOUT THIS PROPERTY

Cory WaddoupsInvestment Realty AdvisorsMore Info
801-609-8342

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Cory WaddoupsInvestment Realty AdvisorsMore Info
801-609-8342

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