8-Unit Apartment
For Sale
$2,300,000
1162 E 400 S, Salt Lake City, UT 84102
MULTI_FAMILY - Other - Salt Lake City, UT
Property Size9,563 SF
Lot Size0.27 Acres
Price / SF$240.51
Days on Market93
Property Features for 1162 E 400 S
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Zoning description
R-2
Bedrooms
16
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 1, Bedroom 2, Bedroom 11, Bedroom 1, Bedroom 5, Bedroom 14, Bathroom 4, Bedroom 3, Bedroom 8, Bathroom 5, Bathroom 6, Bedroom 4, Bedroom 12, Bedroom 6, Bedroom 15, Bathroom 7, Bathroom 3, Bathroom 2, Bedroom 10, Bedroom 7, Bathroom 8, Bedroom 16, Bedroom 13, Bedroom 9
Parking
12
Parking features
Covered
Window features
Blinds
Interior features
Disposal, Range/Oven: Free Stdng.
Subdivision
PLAT F
Lot features
Sidewalks, Sprinkler: Auto- Full, View: Mountain
Elementary school
Bennion (M Lynn)
Middle school
Bryant
High school
East
Elementary school district
Salt Lake
Middle school district
Salt Lake
High school district
Salt Lake
Standard status
Active
APN
16-05-408-055
Size
9,563 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Annual Amount
12164
Utilities
Heating system
Central, Natural Gas
Building Details
Year built
1973
Floors in Building
3
Number of units
8
Flooring type
Carpet, Vinyl, Laminate
Building materials
Brick
Roof type
Membrane
Architectural style
Other
Listing Agency:
Investment Realty Advisors LLC
(435) 485-7070
Listed By:
Porter Criddle
(801) 694-5291
Added: May 4
Changed: Aug 1
Last Checked: Aug 4 at 8:06AM
MLS# 2155284
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Investment Insights
Based on property information with market context.
This brick 8-unit apartment building was built in 1973 and sits on a 0.27-acre lot. The property totals 9,563 square feet and is described as a large-unit configuration with eight units, each offering approximately 1,100 square feet and a 2-bedroom, 1-bathroom layout. Interior features include a disposal and a free-standing range/oven. Heating is central with natural gas, with carpet, vinyl, and laminate flooring throughout, and a membrane roof. Covered parking is provided.
Located at 1162 E 400 S in Salt Lake City (84102), the property is described as steps from the University of Utah, with walking access to campus, transit, and downtown Salt Lake City. The offering notes that the building has historically operated under multiple leasing structures, and buyers are encouraged to verify details related to operating history and income approach.
Zoned Multi-Family, the building may appeal to operators looking for an 8-unit format with consistently sized 2-bedroom units.
Located at 1162 E 400 S in Salt Lake City (84102), the property is described as steps from the University of Utah, with walking access to campus, transit, and downtown Salt Lake City. The offering notes that the building has historically operated under multiple leasing structures, and buyers are encouraged to verify details related to operating history and income approach.
Zoned Multi-Family, the building may appeal to operators looking for an 8-unit format with consistently sized 2-bedroom units.
Key Highlights
- 0.27‑acre lot with 9,563 SF total building area
- 8 units, each approximately 1,100 SF with a 2‑bedroom, 1‑bath layout
- Zoned Multi‑Family
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $227.2k | $23.76 |
| − Vacancy | −$11.8k | −$1.24 |
| EGI | $215.4k | $22.52 |
| − OpEx | −$96.9k | −$10.14 |
| NOI | $118.5k | $12.39 |
9,563 SF · lease $23.76/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.69M
$1.48M – $1.97M
NOI $118,471 @ 7.0% cap · market cap 5.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.58M
$2.25M – $3.01M
NOI $180,349 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,104
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Zoned Multi-Family, brick 8-unit building with covered parking and central natural gas heating.
Where is this apartment building located?
The property is located at 1162 E 400 S Salt Lake City, UT.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 0.27‑acre lot with 9,563 SF total building area; 8 units, each approximately 1,100 SF with a 2‑bedroom, 1‑bath layout; Zoned Multi‑Family
