Historic 5-Plex with Conversion
For Sale
$1,600,000
128 S 1000 E, Salt Lake City, UT 84102
Well-maintained 5-plex with vaulted ceilings, stained glass, and heated flooring; tenant occupied with 24-hour notice.
Property Size4,900 SF
Days on Market109
Property Features for 128 S 1000 E
General Information
Standard status
Active
Size
4,900 SF
Property subtype
> 4 Units
Additional Details
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$7,984
Building Details
Building Size
4,900 SF
Year Built
1910
Tenancy
Multi
Listing Agency:
Rum Real Estate
Listed By:
Curtis Rumel
(801) 790-4030
Source:
Acresutah
Added: Jul 2
Changed: Oct 13
Last Checked: Oct 16 at 6:07PM
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 Rum Real Estate
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Investment Insights
Based on property information with market context.
This beautifully built, well-maintained 5-plex features historic charm with vaulted ceilings, stained glass, and heated flooring. Interior details include quality finishes, wooden Pella doors and windows, and a WOLF range. The property is described as capable of converting into a 3- or 4-plex.
Located at 128 S 1000 E in Salt Lake City, UT 84102, the building is currently tenant occupied. Please allow 24-hour notice for all showings. A Matterport tour is available prior to requesting a showing.
Located at 128 S 1000 E in Salt Lake City, UT 84102, the building is currently tenant occupied. Please allow 24-hour notice for all showings. A Matterport tour is available prior to requesting a showing.
Key Highlights
- 1910‑built well‑maintained 5‑plex with historic charm
- Property can be converted into a 3‑plex or 4‑plex
- Interior features include vaulted ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,703
Cap Rate
3.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,214,060
$1.2M
Cap Rate 7%
$867,186
$867.2K
Cap Rate 9%
$674,478
$674.5K
Market Conditions
NOI Build-Up for 4,900 SF
Gross rent
$116.4K $23.76/SF
− Vacancy
−$6.1K −$1.24/SF
EGI
$110.4K $22.52/SF
− OpEx
−$49.7K −$10.14/SF
NOI
$60.7K $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%
$1,214,060
Cap Rate 7%
$867,186
Cap Rate 9%
$674,478
Alternative Uses
Best Use
Apartment 5plus
$867.2K
$758.8K – $1.01M
NOI $60,703 @ 7.0% cap · market cap 3.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,409 @ 7.0% cap · market cap 5.78%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,273
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 5-plex with vaulted ceilings, stained glass, and heated flooring; tenant occupied with 24-hour notice.
Where is this apartment building located?
The property is located at 128 S 1000 E Salt Lake City, UT.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 1910‑built well‑maintained 5‑plex with historic charm; Property can be converted into a 3‑plex or 4‑plex; Interior features include vaulted ceilings
