For Sale
$1,500,000

643 700 Salt Lake City, UT 84102

Five-unit multifamily, 4.4% cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
135
This stabilized multifamily investment property, located at 643 S 700 E in Salt Lake City, UT 84102, presents a compelling opportunity. The property consists of two buildings, each two stories, totaling 3,460 square feet of net rentable space across five units. Built in 1891 and extensively renovated in 2018, the property boasts a 100% occupancy rate, generating a strong net operating income (NOI) of $93,792, resulting in a 4.40% capitalization rate. The asking price is $1,500,000. Situated on a 0.14-acre lot, the property includes five parking spaces and is zoned RMF-30. The property's prime location offers convenient access to key amenities and transportation links within Salt Lake City. This is an exceptional opportunity for investors seeking a high-performing asset with significant income potential in a thriving urban market. The property's strong performance and desirable location make it an ideal addition to any investment portfolio. Parcel numbers are 16-05-355-008 and 16-05-355-009.

Highlights

  • Salt Lake City multifamily investment opportunity: 5-unit property, 3,460 sq ft, 100% occupancy.
  • Two 2-story buildings on a 0.14-acre lot with 5 parking spaces.
  • $1,500,000 asking price, $93,792 NOI, 4.40% cap rate.
  • Extensively renovated in 2018, RMF-30 zoning.
  • Parcel numbers: 16-05-355-008 & 16-05-355-009.

Property Details for 643 700

Property type
Residential income homes
Square Feet
3,460 SF
Year Built/Renovated
1891/2018
Buildings
2
Stories
2
Lot Size (sq. ft)
6,098 SF
Units
5

Location Insight

City
Salt Lake City
County
Salt Lake
State
Utah
Latitude
40.7551892
Longitude
-111.8706863

FAQs

What type of property is this?
Residential income home - Five-unit multifamily, 4.4% cap rate.
Where is the residential income home located?
The property is located at 643 700 Salt Lake City, UT.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Salt Lake City multifamily investment opportunity: 5-unit property, 3,460 sq ft, 100% occupancy.; Two 2-story buildings on a 0.14-acre lot with 5 parking spaces.; $1,500,000 asking price, $93,792 NOI, 4.40% cap rate.
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643 700
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