3-Unit
For Sale
$555,000
1131 W ARAPAHOE AVE, Salt Lake City, UT 84104
The property combines two two-bedroom apartments with a one-bedroom unit, including one currently vacant residence.
Property Size2,230 SF
Price / SF$248.88
Days on Market143
Property Features for 1131 W ARAPAHOE AVE
General Information
Standard status
Active
Size
2,230 SF
Property subtype
Triplex
Site & Location
Neighborhood
Poplar Grove
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$2,648
Building Details
Building Size
2,230 SF
Year Built
1962
Tenancy
Multi
Listing Agency:
Investment Realty Advisors LLC
Listed By:
Porter Criddle
(801) 694-5291
Source:
Moveutahrealestate
Added: Jun 11
Changed: Oct 30
Last Checked: Oct 30 at 1:52AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Investment Realty Advisors LLC
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Investment Insights
Based on property information with market context.
This 2,230-square-foot triplex in Salt Lake City was built in 1962. Its three apartments comprise two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit. Two apartments are occupied, while the one-bedroom residence is vacant.
Key Highlights
- 2,230‑square‑foot triplex
- Three apartments: two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit
- Two units occupied; one unit vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,739
Cap Rate
5.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$594,780
$594.8K
Cap Rate 7%
$424,843
$424.8K
Cap Rate 9%
$330,433
$330.4K
Market Conditions
NOI Build-Up for 2,230 SF
Gross rent
$45.0K $20.16/SF
− Vacancy
−$2.5K −$1.11/SF
EGI
$42.5K $19.05/SF
− OpEx
−$12.7K −$5.72/SF
NOI
$29.7K $13.34/SF
Area
Salt Lake City, UT
Vacancy
5.50%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$594,780
Cap Rate 7%
$424,843
Cap Rate 9%
$330,433
Alternative Uses
Best Use
Multifamily LT 5
$424.8K
$371.7K – $495.7K
NOI $29,739 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$394.7K
$345.3K – $460.4K
NOI $27,626 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$600.8K
$525.7K – $700.9K
NOI $42,056 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
406
Businesses Nearby
Explore this area
Business Placement
Demographics for 84104, UT
23,487
Population
8,452
Households
2.8
Avg Household Size
31
Median Age
22%
College-Educated
78%
High-School Grad
21.6 sq mi
ZIP Area
1,087
Density / Sq Mi
$61,326
Median Household Income
$35,013
Median Earnings
$1,235
Median Rent
$318,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - The property combines two two-bedroom apartments with a one-bedroom unit, including one currently vacant residence.
Where is this triplex located?
The property is located at 1131 W ARAPAHOE AVE Salt Lake City, UT.
What is the asking price?
The asking price for this property is $555,000.
What are key features of this property?
This property features: 2,230‑square‑foot triplex; Three apartments: two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit; Two units occupied; one unit vacant
