Connie Jean | 2880-2910 S 200 E
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Connie Jean 2880-2910 S 200 E 20 Unit Apartment Building $3,250,000 ($162,500/Unit) 5.75% Cap Rate Salt Lake City, UT 84115
INVESTMENT HIGHLIGHTS
- VALUE-ADD POTENTIAL: Currently renting below-market, a new owner can increase base rents by ±$172 per month to add ±$41,280 in gross annual income
- GROWTH POTENTIAL: Utah is projected to grow in population by over 500,000 people in the next nine years further increasing tenant demand
- WELL-LOCATED: Connie Jean benefits from its central location, near I-15, I-80, and major employment centers including Downtown Salt Lake
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to announce the exclusive listing of Connie Jean Apartments. Located in the growing Salt Lake market, this opportunity offers value-add potential for a new owner through physical improvements and increasing rents and ancillary fees to market rates. Connie Jean benefits from its proximity to downtown, I-15, and I-80. Salt Lake is the state's largest business center and offers various economic and recreational appeals. Large companies and schools nearby such as Goldman Sach's, Zion's Bank, the University of Utah, and Westminster University, add to the strong and growing local economy.
PROPERTY FACTS
| Price | $3,250,000 | Building Class | C |
| Price Per Unit | $162,500 | Lot Size | 0.84 AC |
| Sale Type | Investment | Building Size | 12,000 SF |
| Cap Rate | 5.75% | Average Occupancy | 100% |
| No. Units | 20 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 1.67/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | R1 | ||
| Price | $3,250,000 |
| Price Per Unit | $162,500 |
| Sale Type | Investment |
| Cap Rate | 5.75% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.84 AC |
| Building Size | 12,000 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1962 |
| Parking Ratio | 1.67/1,000 SF |
| Zoning | R1 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Disposal
- Fireplace
- Storage Space
- Washer/Dryer Hookup
- Tile Floors
- Refrigerator
- Range
- Carpet
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 20 | - | 600 |
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Walk Score®
Very Walkable (73)
PROPERTY TAXES
| Parcel Number | 16-30-107-030-0000 | Improvements Assessment | $1,495,600 |
| Land Assessment | $698,400 | Total Assessment | $2,194,000 |
PROPERTY TAXES
Parcel Number
16-30-107-030-0000
Land Assessment
$698,400
Improvements Assessment
$1,495,600
Total Assessment
$2,194,000
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Connie Jean | 2880-2910 S 200 E
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