Renovated Apartment
215 S 300 E Salt Lake City, UT 84111
215 S 300 E, Salt Lake City, UT, 84111
$2,300,000
For Sale
$2,300,000
Renovated multifamily building with updated kitchens and baths, 72-inch windows, and interior finishes including hardwood and tile.
Property Size7,711 SF
Price / SF$298.28
Days on Market461
Property Features for 215 S 300 E
General Information
- Standard status
- Active
- Size
- 7,711 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1918
Listing agency
Equity Real Estate (Solid)
(801) 557-2887
Listed by
John J Everitt · License #5459786
(801) 557-2887
Source
Exitrealty
Added: Apr 17, 2025 Updated: Jul 20 at 7:40PM Checked: Jul 21 at 5:43AM
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 Equity Real Estate (Solid)
Investment Insights
Based on property information with market context.
This renovated apartment building blends 1900s character with 21st-century updates. Public remarks indicate renovated studs to 2008 code, along with electrical and plumbing updates. Units feature updated kitchens and baths, bright interior color schemes, 72-inch windows, and finishes that include hardwood floors and tile throughout.
Improvements also include a new parking lot installed in 2020, followed by gated parking and driveway updates in 2024.
The property is offered for sale as a residential income asset and is listed at 7,711 (as provided) for the building’s size.
Improvements also include a new parking lot installed in 2020, followed by gated parking and driveway updates in 2024.
The property is offered for sale as a residential income asset and is listed at 7,711 (as provided) for the building’s size.
Key Highlights
- Renovated multifamily building built in 1918 with interior finishes including hardwood floors and tile
- Updated kitchens and baths as part of renovations through 2008 code (renovated studs out to 2008 code)
- Electrical and plumbing updated during renovations
Local 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 | $183.2k | $23.76 |
| − Vacancy | −$9.5k | −$1.24 |
| EGI | $173.7k | $22.52 |
| − OpEx | −$78.2k | −$10.14 |
| NOI | $95.5k | $12.39 |
7,711 SF · lease $23.76/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.36M
$1.19M – $1.59M
NOI $95,527 @ 7.0% cap · market cap 4.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.08M
$1.82M – $2.42M
NOI $145,422 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
The Rainier
Apartment Building
United Modern Groups
Construction Company
Above and Beyond Accounting
Accounting Firm
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Renovated multifamily building with updated kitchens and baths, 72-inch windows, and interior finishes including hardwood and tile.
Where is this apartment building located?
The property is located at 215 S 300 E 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: Renovated multifamily building built in 1918 with interior finishes including hardwood floors and tile; Updated kitchens and baths as part of renovations through 2008 code (renovated studs out to 2008 code); Electrical and plumbing updated during renovations
