This exceptional 48-unit apartment building, known as Mesa Verde Apartments, presents a compelling investment opportunity in the thriving South Salt Lake City market. Located at 3403 S 200 E, 84115, this property boasts a total net rentable area of 26,400 square feet, spread across four, two-story buildings situated on a 1.47-acre lot. The property features 48 units, each recently renovated in 2019, offering a blend of comfort and modern amenities. Built in 1971, the complex benefits from its prime location, providing convenient access to I-15 and just 12 minutes from Downtown Salt Lake City. The property's strong financial performance is highlighted by a pro-forma NOI of $568,983 and a pro-forma cap rate of 5.52%, with an asking price of $10,300,000 ($214,583 per unit). The property's APN numbers are 16-30-379-033, 16-30-379-034, 16-30-379-014, and 16-30-379-015. Salt Lake County's robust population growth, high rate of college graduates, and strong job market contribute to a consistently high demand for rental housing, making this a particularly attractive investment. The property includes a picnic area and well-maintained landscaping. This property offers a unique combination of strong financial performance, desirable location, and recent renovations, making it an ideal addition to any investment portfolio.
Highlights
$10,300,000 asking price for a 48-unit apartment building.
5.52% pro-forma cap rate with a $568,983 pro-forma NOI.
26,400 square feet of net rentable space.
$214,583 per unit price.
Located at 3403 S 200 E, South Salt Lake, UT 84115, on a 1.47-acre lot.
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Contacts
Mark Numbers
Mark Jensen
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3403 200, South Salt Lake, Utah, 84115
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
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3403 200
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