Remodeled 6-Unit Apartment
For Sale
$1,299,000
120 E UTOPIA AVE S, Salt Lake City, UT 84105
Residential apartment property with covered parking, separate utility metering, and shared coin-operated laundry.
Property Size3 SF
Price / SF$278.46
Days on Market51
Property Features for 120 E UTOPIA AVE S
General Information
Standard status
Active
Size
3 SF
Property subtype
> 4 Units
Site & Location
Neighborhood
South Boulevard
Units
Unit Mix
6 x 2BR/1BA
Multifamily Units
6
Parking per Unit
1
Amenities
coin-operated laundry
Building Details
Building Size
3 SF
Year Built
1972
Year Renovated
2021
Buildings
1
Stories
3
Listing Agency:
Conrad Cruz Real Estate Services, LLC
Listed By:
Matt B Strong
(801) 244-3888
Source:
Liftrealty
Added: Sep 14
Changed: Nov 1
Last Checked: Nov 1 at 4:55AM
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 Conrad Cruz Real Estate Services, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This six-unit apartment property contains six matching 2-bed/1-bath residences arranged in two three-story stacks. The 4,665-square-foot building was remodeled in 2021 and includes a lower-level shared coin-operated laundry area. Each apartment has a dedicated covered carport space, while gas and electric service are separately metered.
Built in 1972, the property is located in Salt Lake City with freeway access and proximity to downtown. The combination of consistent unit layouts, individual utility metering, covered parking, and on-site laundry provides a straightforward multifamily configuration.
Built in 1972, the property is located in Salt Lake City with freeway access and proximity to downtown. The combination of consistent unit layouts, individual utility metering, covered parking, and on-site laundry provides a straightforward multifamily configuration.
Key Highlights
- Six 2‑bed/1‑bath apartment units
- 4,665 SF building remodeled in 2021
- Two three‑story stacks with matching layouts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,792
Cap Rate
4.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,155,840
$1.2M
Cap Rate 7%
$825,600
$825.6K
Cap Rate 9%
$642,133
$642.1K
Market Conditions
NOI Build-Up for 4,665 SF
Gross rent
$110.8K $23.76/SF
− Vacancy
−$5.8K −$1.24/SF
EGI
$105.1K $22.52/SF
− OpEx
−$47.3K −$10.14/SF
NOI
$57.8K $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 Rate 5%
$1,155,840
Cap Rate 7%
$825,600
Cap Rate 9%
$642,133
Alternative Uses
Best Use
Apartment 5plus
$825.6K
$722.4K – $963.2K
NOI $57,792 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $87,977 @ 7.0% cap · market cap 6.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,532
Businesses Nearby
Explore this area
Business Placement
Demographics for 84105, UT
22,856
Population
10,953
Households
2.1
Avg Household Size
35
Median Age
66%
College-Educated
97%
High-School Grad
3.1 sq mi
ZIP Area
7,373
Density / Sq Mi
$94,145
Median Household Income
$52,785
Median Earnings
$1,482
Median Rent
$632,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Residential apartment property with covered parking, separate utility metering, and shared coin-operated laundry.
Where is this apartment building located?
The property is located at 120 E UTOPIA AVE S Salt Lake City, UT.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Six 2‑bed/1‑bath apartment units; 4,665 SF building remodeled in 2021; Two three‑story stacks with matching layouts
