$1,299,000
For more information regarding the value of a property, please contact us for a free consultation.
5 Beds
4 Baths
2,697 SqFt
SOLD DATE : 04/08/2025
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Square Footage 2,697 sqft
Price per Sqft $470
MLS Listing ID 2071301
Sold Date 04/08/25
Style Stories: 2
Bedrooms 5
Construction Status Blt./Standing
HOA Y/N No
Year Built 1924
Annual Tax Amount $3,894
Lot Size 6,098 Sqft
Acres 0.14
Lot Dimensions 0.0x0.0x0.0
Property Sub-Type Quadruplex
Property Description
Key Financials: Gross Rent Multiplier (GRM): Only 199 - immediate, strong cash flow with upside potential. 100% occupancy with market-rate, professionally screened tenants. Consistent rent roll with stable, long-term collections history. Property Highlights: Fully renovated 2 years ago - custom kitchens (new appliances), new bathrooms, new paint, solid surface flooring, updated lighting, and new HVAC systems in every unit. Energy-efficient windows throughout the building. Electric and sewer systems updated. On-site multi-unit laundry room for potential additional revenue. Low-maintenance xeriscaping. Location: Minutes from the University, downtown business district, and public transit (TRAX). Located in a highly desirable, low-vacancy rental corridor with strong rental trends. Investor Advantages: Parcel #1605379041000 included - providing dedicated tenant off-street parking, a rare amenity in this market. This parcel also offers significant future development potential, Turnkey, cash-flowing asset with minimal management required. One of the highest-income producing properties in the area, with measurable upside through additional development, paid parking, or storage unit, or ADU income.
Location
State UT
County Salt Lake
Area Salt Lake City; So. Salt Lake
Zoning Multi-Family
Interior
Interior Features Basement Apartment, Kitchen: Updated, Range/Oven: Free Stdng.
Heating Wall Furnace
Flooring Laminate, Tile
Equipment Window Coverings
Fireplace false
Window Features Blinds
Exterior
Exterior Feature Basement Entrance, Double Pane Windows, Entry (Foyer), Secured Building, Patio: Open
Utilities Available Natural Gas Connected, Electricity Connected, Sewer Connected, Sewer: Public, Water Connected
View Y/N No
Roof Type Asphalt,Pitched
Present Use Residential
Topography Additional Land Available, Fenced: Part, Road: Paved, Road: Unpaved, Sidewalks, Terrain, Flat, Terrain: Grad Slope
Porch Patio: Open
Total Parking Spaces 8
Private Pool false
Building
Lot Description Additional Land Available, Fenced: Part, Road: Paved, Road: Unpaved, Sidewalks, Terrain: Grad Slope
Faces West
Sewer Sewer: Connected, Sewer: Public
Water Culinary
Structure Type Brick
New Construction No
Construction Status Blt./Standing
Schools
Elementary Schools Bennion (M Lynn)
Middle Schools Bryant
High Schools East
School District Salt Lake
Others
Senior Community No
Tax ID 16-05-379-020
Ownership Agent Owned
Acceptable Financing Cash, Conventional
Horse Property No
Listing Terms Cash, Conventional
Financing Exchange
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with C-Squared Real Estate
“My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! ”