2880 200South Salt Lake, UT 84115

Property Details for 2880 200

Year built

1962

Lot size

0.84 AC

Property size (Sq ft)

12,000 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 20-unit apartment building, located at 2880 S 200 E in South Salt Lake, Utah, presents a compelling value-add investment opportunity. The property, built in 1962, comprises five single-story buildings totaling 12,000 square feet on a 0.84-acre lot (APN: 16-30-107-030-0000). Currently boasting a 5.16% cap rate and $175,388 NOI, the property offers significant upside potential. A pro-forma analysis projects a 6.39% cap rate and $217,352 NOI, indicating substantial room for improvement through strategic renovations and expense management. The asking price is $3,400,000, translating to $170,000 per unit and $283.33 per square foot. The property is zoned for multifamily use and benefits from its prime location in a vibrant community with strong rental demand. This fee-simple ownership offers a rare chance to acquire a well-maintained asset with clear potential for enhanced profitability. The property's current condition presents an excellent opportunity to increase rental income through interior upgrades and operational efficiencies. This is a strong value-add play in a desirable Salt Lake City location.

Location Insight

City

South Salt Lake

County

Salt Lake

State

Utah

Latitude

40.7084

Longitude

-111.886

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