6-Unit Apartment
135 B ST, Salt Lake City, UT 84103
For Sale
$699,000
Pending
Historic multifamily property with studio and one-bedroom residences, shared laundry, and rear off-street parking.
Property Size3,000 SF
Days on Market216
Property Features for 135 B ST
General Information
Standard status
Size
Property subtype
Property Condition
Severity
Evidence
Site & Location
Neighborhood
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
off-street parking
mature landscaping
shared laundry
storage areas
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Summit Sotheby's International Realty
Listed By:
Thomas Wright · License UT #5487887
(801) 652-5700
Source:
Moveutahrealestate
Added: Apr 9
Changed: Nov 7
Last Checked: Nov 9 at 12:48PM
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 Summit Sotheby's International Realty
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Investment Insights
Based on property information with market context.
Built in 1899, this apartment property contains six conforming residences, primarily studios and one-bedroom layouts. The building remains in original condition and will require substantial updating. Shared laundry and storage areas serve the units, with open off-street parking behind the building. The property has a historic designation.
The building occupies a corner lot in Salt Lake City’s Avenues neighborhood. Downtown, the University of Utah, parks, restaurants, and trail systems are among the nearby destinations. Street parking is also available in the surrounding area.
The building occupies a corner lot in Salt Lake City’s Avenues neighborhood. Downtown, the University of Utah, parks, restaurants, and trail systems are among the nearby destinations. Street parking is also available in the surrounding area.
Key Highlights
- Six conforming units, primarily studios and one‑bedroom layouts
- 1899 construction; building is in original condition and requires significant updating
- Corner lot in Salt Lake City’s Avenues neighborhood
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,165
Cap Rate
5.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$743,300
$743.3K
Cap Rate 7%
$530,929
$530.9K
Cap Rate 9%
$412,944
$412.9K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$71.3K $23.76/SF
− Vacancy
−$3.7K −$1.24/SF
EGI
$67.6K $22.52/SF
− OpEx
−$30.4K −$10.14/SF
NOI
$37.2K $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%
$743,300
Cap Rate 7%
$530,929
Cap Rate 9%
$412,944
Alternative Uses
Best Use
Apartment 5plus
$530.9K
$464.6K – $619.4K
NOI $37,165 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$808.2K
$707.2K – $943.0K
NOI $56,577 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
5,365
Businesses Nearby
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Business Placement
Demographics for 84103, UT
22,788
Population
13,528
Households
1.7
Avg Household Size
36
Median Age
66%
College-Educated
98%
High-School Grad
20.5 sq mi
ZIP Area
1,112
Density / Sq Mi
$81,386
Median Household Income
$54,787
Median Earnings
$1,374
Median Rent
$710,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Salt Lake City, UT
Properties on Market for Apartment buildings in Salt Lake City
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Historic multifamily property with studio and one-bedroom residences, shared laundry, and rear off-street parking.
Where is this apartment building located?
The property is located at 135 B ST Salt Lake City, UT.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Six conforming units, primarily studios and one‑bedroom layouts; 1899 construction; building is in original condition and requires significant updating; Corner lot in Salt Lake City’s Avenues neighborhood
