Renovated 8-Unit Apartment
For Sale
$2,695,000
1127 E S TEMPLE, Salt Lake City, UT 84102
Residential, Salt Lake City, UT
Property Size7,607 SF
Lot Size0.31 Acres
Price / SF$354.28
Days on Market117
Property Features for 1127 E S TEMPLE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Zoning description
RMF-35
Bedrooms
10
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 5, Bathroom 7, Bedroom 10, Bedroom 7, Bedroom 4, Bathroom 4, Bedroom 5, Bedroom 8, Bathroom 3, Bedroom 6, Bathroom 6, Bedroom 1, Bathroom 1, Bedroom 3, Bedroom 2, Bedroom 9, Bathroom 2, Bathroom 8
Parking
12
Parking features
Covered
Patio and Porch features
Patio
Exterior features
Patio: Covered, Stained Glass Windows
Lot features
Fenced: Part, Road: Paved, Sprinkler: Auto- Full, View: Mountain
Elementary school
Wasatch
Middle school
Bryant
High school
West
Elementary school district
Salt Lake
Middle school district
Salt Lake
High school district
Salt Lake
Subdivision
Salt Lake City; So. Salt Lake
Standard status
Active
APN
09-32-459-015
Size
7,607 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Annual Amount
12169
Utilities
Heating system
Electric (Heating)
Water source
Private
Building Details
Year built
1906
Floors in Building
3
Number of units
8
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Investment Realty Advisors LLC
(435) 485-7070
Listed By:
Porter Criddle
(801) 694-5291
Added: Apr 28
Changed: Aug 20
Last Checked: Aug 22 at 10:06PM
MLS# 2153723
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Investment Insights
Based on property information with market context.
This 7,607-square-foot apartment building contains eight rented units within a brick property constructed in 1906. A comprehensive renovation completed in 2022 included new electrical and plumbing systems, refreshed kitchens and bathrooms, updated cabinetry, tile backsplashes, and new paint. High-efficiency mini-split HVAC systems serve every unit. Covered parking, a patio, stained glass windows, hardwood flooring, and tile flooring add to the existing features.
The property occupies 0.31 acres at 1127 E S Temple in Salt Lake City, near downtown and the University of Utah. A third-floor studio area and basement space are also present. The property is zoned Multi-Family and is currently 100% rented.
The property occupies 0.31 acres at 1127 E S Temple in Salt Lake City, near downtown and the University of Utah. A third-floor studio area and basement space are also present. The property is zoned Multi-Family and is currently 100% rented.
Key Highlights
- Eight‑unit multifamily property with 7,607 SF of building area
- 100% rented across the eight units
- 2022 renovation included new electrical and plumbing systems
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$94,239
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.50%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,884,780
$1.9M
Cap Rate 7%
$1,346,271
$1.3M
Cap Rate 9%
$1,047,100
$1.0M
Market Conditions
NOI Build-Up for 7,607 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$180.7K $23.76/SF
− Vacancy
−$9.4K −$1.24/SF
EGI
$171.3K $22.52/SF
− OpEx
−$77.1K −$10.14/SF
NOI
$94.2K $12.39/SF
Area
Salt Lake City, UT
Vacancy
5.20%
Lease Rate
$23.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,884,780
Cap Rate 7%
$1,346,271
Cap Rate 9%
$1,047,100
Alternative Uses
Best Use
Apartment 5plus
$1.35M
$1.18M – $1.57M
NOI $94,239 @ 7.0% cap · market cap 3.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.05M
$1.79M – $2.39M
NOI $143,460 @ 7.0% cap · market cap 5.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,477
Businesses Nearby
Explore this area
Business Placement
Demographics for 84102, UT
18,857
Population
11,348
Households
1.7
Avg Household Size
29
Median Age
56%
College-Educated
94%
High-School Grad
1.9 sq mi
ZIP Area
9,925
Density / Sq Mi
$50,040
Median Household Income
$32,432
Median Earnings
$1,305
Median Rent
$487,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Brick apartment property with covered parking, hardwood and tile flooring, and high-efficiency mini-split HVAC systems.
Where is this apartment building located?
The property is located at 1127 E S TEMPLE Salt Lake City, UT.
What is the asking price?
The asking price for this property is $2,695,000.
What are key features of this property?
This property features: Eight‑unit multifamily property with 7,607 SF of building area; 100% rented across the eight units; 2022 renovation included new electrical and plumbing systems
