Brick Triplex with Covered
1131 W ARAPAHOE Ave, Salt Lake City, UT 84104
For Sale
$555,000
Residential, Salt Lake City, UT
Property Size2,230 SF
Lot Size0.14 Acres
Price / SF$248.88
Days on Market157
Property Features for 1131 W ARAPAHOE Ave
General Information
Property type
Property subtype
Zoning description
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Parking features
Window features
Interior features
Exterior features
Subdivision
Lot features
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Annual Amount
Utilities
Sewer type
Heating system
Building Details
Year built
Number of units
Flooring type
Building materials
Roof type
Architectural style
Listing Agency:
Investment Realty Advisors LLC
(435) 485-7070
Listed By:
Porter Criddle
(801) 694-5291
Added: Jun 11
Changed: Oct 24
Last Checked: Nov 14 at 5:06AM
MLS# 2164743
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Investment Insights
Based on property information with market context.
This 2,230-square-foot triplex contains two two-bedroom, one-bath units and one one-bedroom, one-bath unit. The first two apartments are leased, while the third is vacant. Interior features include vinyl and carpet flooring, freestanding ranges, and forced-air heating with central service powered by natural gas. The building was constructed in 1962 with brick and frame construction, an asphalt roof, and a basement entrance.
Situated on a 0.14-acre parcel at 1131 W Arapahoe Ave in Salt Lake City, the property has public sewer service and covered parking. The unit mix provides varied residential configurations within a compact multifamily building.
Situated on a 0.14-acre parcel at 1131 W Arapahoe Ave in Salt Lake City, the property has public sewer service and covered parking. The unit mix provides varied residential configurations within a compact multifamily building.
Key Highlights
- 2,230‑square‑foot triplex on a 0.14‑acre parcel
- Two 2 bed / 1 bath units plus one 1 bed / 1 bath unit
- One apartment is vacant; two units are leased
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.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
406
Businesses Nearby
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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
$318,100
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Salt Lake County, UT
Properties on Market for Triplexes in Salt Lake County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential income property with a vacant one-bedroom apartment and covered parking.
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 on a 0.14‑acre parcel; Two 2 bed / 1 bath units plus one 1 bed / 1 bath unit; One apartment is vacant; two units are leased
