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    The Largest CRE Database in the US with Over 1 Million Listings

    884 Rowley Dr, Unit 106 Salt Lake City, UT 84107

    Sponsored
    For Sale
    $7,220,000

    MULTI_FAMILY - Other - Millcreek, UT

    Property size:
    19,600 SF
    Lot size:
    0.28 Acres
    Days on Market:
    16
    Last Refresh:
    Feb 6 at 12:06 pm

    Property Features for 884 Rowley Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Multi-Family
    Rooms
    Bathroom 32, Bedroom 16, Bedroom 27, Bathroom 22, Bathroom 31, Bedroom 8, Bedroom 10, Bedroom 28, Bedroom 26, Bathroom 1, Bathroom 3, Bathroom 33, Bathroom 30, Bedroom 2, Bedroom 14, Bathroom 6, Bathroom 23, Bathroom 2, Bedroom 20, Bedroom 23, Bedroom 3, Bedroom 24, Bedroom 22, Bathroom 20, Bathroom 35, Bedroom 19, Bedroom 6, Bedroom 15, Bedroom 12, Bathroom 10, Bathroom 13, Bedroom 18, Bedroom 7, Bedroom 13, Bathroom 14, Bathroom 18, Bathroom 16, Bathroom 27, Bathroom 26, Bathroom 29, Bathroom 8, Bedroom 9, Bathroom 15, Bedroom 25, Bathroom 9, Bathroom 5, Bathroom 24, Bathroom 17, Bathroom 34, Bedroom 5, Bathroom 21, Bathroom 12, Bathroom 28, Bedroom 1, Bathroom 7, Bathroom 25, Bedroom 11, Bathroom 19, Bathroom 11, Bedroom 17, Bathroom 4, Bedroom 4, Bedroom 21
    Bedrooms
    28
    Bathrooms
    35
    APN
    22-05-183-028
    Parking
    36
    Interior features
    Disposal, Range/Oven: Built-In, Dishwasher: Built-In
    Size
    19,600 SF
    Lot size
    0.28 Acres

    Utilities

    Heating system
    Electric (Heating)

    Building Details

    Year built
    2026
    Floors in Building
    3
    Number of units
    14
    Flooring type
    Carpet, Tile
    Building materials
    Brick, Concrete, Stucco, Clapboard
    Roof type
    Flat
    Architectural style
    Other

    We can help!

    Listing Contact
    John Loveday

    Equity Utah Real Estate (800) 785-9995

    Listing agent John Loveday (801) 917-5597

    Listing date Jan 22, 2026

    MLS# 2132304 Listing URL

    Copyright © 2026 UtahRealEstate.com. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    New Townhomes in Millcreek

    An opportunity exists to acquire 14 new rental townhomes located in Millcreek. The complex consists of thirty-one total units, each with its own tax ID, allowing for the purchase of two full buildings of 14 units or a division into different unit counts. Each townhome features premium interior finishes, including quartz waterfall countertops, modern cabinetry, high-efficiency HVAC systems, Google Fiber, and ample windows providing natural daylight. Each unit also includes a tandem two-car garage. The property includes a common area pickleball/sport court and park. The location in east side Millcreek provides proximity to ski resorts, downtown Salt Lake, schools, and shopping. The property is zoned for multi-family use and has a lot size of 0.28 acres. The property size is 19600 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Salt Lake City
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.866104
    Latitude
    40.67672

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    FAQs

    What type of property is this?
    Apartment building - 14 new townhomes with premium finishes in Millcreek, Utah.
    Where is this apartment building located?
    The property is located at 884 Rowley Dr, Unit 106 Salt Lake City, UT.
    What is the asking price?
    The asking price for this property is $7,220,000.
    What are key features of this property?
    This property features: - Opportunity to own brand new rental townhomes in Millcreek, with options to purchase multiple units or individual buildings.; - Enjoy high-end interior finishes including **quartz waterfall countertops**, **modern cabinetry**, and ample natural daylight.; - Each townhome includes a **tandem 2-car garage**.
    (801) 917-5597
    Request Owner's contact information
    884 Rowley Dr, Unit 106 Salt Lake City, UT 84107
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    Salt Lake City, UT 84107
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    884 Rowley Dr, Unit 106 Salt Lake City, UT 84107
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    We can help!
    Listing Contact
    John Loveday
    (801) 917-5597
    Learn more
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