1539 Roberta StSalt Lake City, UT 84115

Property Details for 1539 Roberta St

Year built

1964

Lot size

0.17 AC

Property size (Sq ft)

7,405 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a well-maintained, five-unit apartment building situated in the desirable Liberty Wells neighborhood of Salt Lake City, Utah. The property, built in 1964, boasts a total of 7,405 square feet, with 4,664 square feet of net rentable space. Currently operating at 100% occupancy, the property generates a strong net operating income (NOI) of $63,904, representing a 5.39% cap rate. Pro-forma projections indicate a potential NOI of $84,265 and a 7.11% cap rate, showcasing significant upside potential. Each of the five units features two bedrooms and one bathroom, with three units recently renovated. Modern mini-split AC units ensure year-round tenant comfort. Convenient off-street parking and a coin-operated laundry facility add to the property's appeal. The 0.17-acre lot is located at 1539 Roberta St, Salt Lake City, UT 84115 (APN: 16-18-178-009-0000). The property's prime location, minutes from downtown Salt Lake City, offers easy access to the city's vibrant amenities while maintaining a tranquil residential atmosphere. High rental demand, fueled by proximity to downtown and the University of Utah, ensures consistent rental income and low vacancy rates. The property is well-maintained, minimizing immediate repair costs and maximizing long-term value. This is a turnkey investment with strong potential for appreciation and cash flow. The asking price is $1,185,000, or $237,000 per unit, and the price per square foot is $160.03. The property is a two-story building on a single lot.

Location Insight

City

Salt Lake City

County

Salt Lake

State

Utah

Latitude

40.7358

Longitude

-111.884

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