643-657 S 700 E
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643-657 S 700 E
5 Unit Apartment Building $1,500,000 ($300,000/Unit) 4.40% Cap Rate Salt Lake City, UT 84102
Executive Summary
Historic charm meets modern convenience in these fully updated Central City units. Unique property with two separate parcels comprise the five total rental units. The property is conveniently located across the street from the Trolley Square development, which is sure to add value to the neighborhood as the area expands. This rare opportunity provides a chance for a new investor or a seasoned multi-family buyer to acquire a building with very little maintenance or deferred maintenance. Completely renovated in 2018, this property has new plumbing, electrical, HVAC, windows, and appliances. You can pick up a gem in Central City without any of the headaches that dated systems and appliances bring. This property provides the future owner with attractive, high-end, practically new properties. These buildings offer unique character and charm, including exposed brick, high ceilings, and private porches.
Property Facts
| Price | $1,500,000 | Building Class | B |
| Price Per Unit | $300,000 | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 3,460 SF |
| Cap Rate | 4.40% | Average Occupancy | 97% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1891/2018 |
| Property Subtype | Apartment | Parking Ratio | 1.44/1,000 SF |
| Apartment Style | Low Rise |
| Price | $1,500,000 |
| Price Per Unit | $300,000 |
| Sale Type | Investment |
| Cap Rate | 4.40% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.14 AC |
| Building Size | 3,460 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built/Renovated | 1891/2018 |
| Parking Ratio | 1.44/1,000 SF |
Unit Amenities
- Cable Ready
- Dishwasher
- Disposal
- Kitchen
- Oven
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $1,430 | 615 |
| 3+1 | 1 | $2,096 | 1,000 |
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Walk Score ®
Walker's Paradise (90)
Bike Score ®
Biker's Paradise (97)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,061,500 | |
| Land Assessment | $317,700 | Total Assessment | $1,379,200 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$317,700
Improvements Assessment
$1,061,500
Total Assessment
$1,379,200
zoning
| Zoning Code | RMF-30 |
| RMF-30 |
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643-657 S 700 E
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