3403 200South Salt Lake, UT 84115

Property Details for 3403 200

Year built

1971

Lot size

1.47 AC

Property type

Residential income properties

Property subtype

Multifamily properties

Description

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.

Location Insight

City

South Salt Lake

County

Salt Lake

State

Utah

Latitude

40.6974

Longitude

-111.886

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