Remodeled Ground-Level
For Sale
$244,000
1555 E 3900 South #Apt 112, Salt Lake City, UT 84124
One-bedroom condominium with in-unit laundry, covered parking, and stair-free entry near transit and major institutions.
Property Size603 SF
Price / SF$404.64
Days on Market26
Property Features for 1555 E 3900 South #Apt 112
General Information
Standard status
Active
Size
603 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
updated cabinets
updated countertops
updated flooring
dishwasher
in-unit washer and dryer
central air conditioning
storage closet
Building Details
Year Built
1964
Listing Agency:
BHHS Utah Properties - Sv
Listed By:
Laura Willis
(435) 731-5148
Source:
Laurawillisrealestate
Added: Sep 11
Changed: Oct 4
Last Checked: Oct 5 at 6:57PM
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 BHHS Utah Properties - Sv
Investment Insights
Based on property information with market context.
This ground-level condominium offers 603 square feet with one bedroom and one bathroom in a 1964 residential income property. The unit has been remodeled with updated cabinetry, countertops, flooring, and appliances, including a dishwasher. Central air conditioning, an in-unit washer and dryer, a covered carport space, and a downstairs storage closet add practical functionality.
The property is located at 1555 E 3900 South #Apt 112 in Salt Lake City, near public transportation, the University of Utah, Millcreek Canyon, and St. Mark's Hospital. Its ground-level layout provides stair-free access, while the one-bedroom configuration offers a straightforward residential floor plan.
The property is located at 1555 E 3900 South #Apt 112 in Salt Lake City, near public transportation, the University of Utah, Millcreek Canyon, and St. Mark's Hospital. Its ground-level layout provides stair-free access, while the one-bedroom configuration offers a straightforward residential floor plan.
Key Highlights
- 603 SF ground‑level condominium with 1 bedroom and 1 bathroom
- Remodeled with updated cabinets, countertops, flooring, and appliances
- In‑unit washer and dryer plus central air conditioning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,470
Cap Rate
3.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$149,400
$149.4K
Cap Rate 7%
$106,714
$106.7K
Cap Rate 9%
$83,000
$83.0K
Market Conditions
NOI Build-Up for 603 SF
Gross rent
$14.3K $23.76/SF
− Vacancy
−$745 −$1.24/SF
EGI
$13.6K $22.52/SF
− OpEx
−$6.1K −$10.14/SF
NOI
$7.5K $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%
$149,400
Cap Rate 7%
$106,714
Cap Rate 9%
$83,000
Alternative Uses
Best Use
Apartment 5plus
$106.7K
$93.4K – $124.5K
NOI $7,470 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$162.5K
$142.2K – $189.5K
NOI $11,372 @ 7.0% cap · market cap 4.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,044
Businesses Nearby
Explore this area
Business Placement
Demographics for 84124, UT
22,872
Population
8,976
Households
2.5
Avg Household Size
38
Median Age
60%
College-Educated
98%
High-School Grad
7.7 sq mi
ZIP Area
2,970
Density / Sq Mi
$117,500
Median Household Income
$53,551
Median Earnings
$1,460
Median Rent
$704,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom condominium with in-unit laundry, covered parking, and stair-free entry near transit and major institutions.
Where is this residential income property located?
The property is located at 1555 E 3900 South #Apt 112 Salt Lake City, UT.
What is the asking price?
The asking price for this property is $244,000.
What are key features of this property?
This property features: 603 SF ground‑level condominium with 1 bedroom and 1 bathroom; Remodeled with updated cabinets, countertops, flooring, and appliances; In‑unit washer and dryer plus central air conditioning
