Renovated Brick Apartment
For Sale
Contact for pricing
146 E 2nd Ave, Salt Lake City, UT 84103
Dual-building multifamily asset with updated interiors and preserved period finishes.
Property Size14,850 SF
Price / SF$292.59
Days on Market171
Property Features for 146 E 2nd Ave
General Information
Standard status
Active
Size
14,850 SF
Property subtype
Multifamily
Zoning
RMF-75
Additional Details
Multifamily Units
21
Building Details
Year Built
1923
Buildings
2
Stories
3
Units
21
Construction
brick
Listing Agency:
Investment Realty Advisors
Listed By:
Porter Criddle · License #UT
(435) 485-7070
Source:
Crexi
Added: May 1
Changed: Oct 4
Last Checked: Oct 16 at 9:27AM
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 Investment Realty Advisors
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Investment Insights
Based on property information with market context.
Stanton-Yale Apartments comprises two brick apartment buildings with 21 units and 14,850 square feet, originally constructed in 1923. Every unit has undergone renovation, including new countertops, cabinetry, and contemporary finishes. Original hardwood flooring and penny-tile bathrooms remain, combining updated interiors with historic building details. On-site parking is also included.
The property is located at 146 E 2nd Ave in Salt Lake City, Utah, within the RMF-75 zoning district. The sale includes parcel 09-31-379-010 in addition to the primary property. The offering provides a substantial multifamily configuration with renovated units, retained architectural character, and a two-building layout.
The property is located at 146 E 2nd Ave in Salt Lake City, Utah, within the RMF-75 zoning district. The sale includes parcel 09-31-379-010 in addition to the primary property. The offering provides a substantial multifamily configuration with renovated units, retained architectural character, and a two-building layout.
Key Highlights
- 21‑unit, 14,850‑square‑foot apartment property
- Two brick apartment buildings constructed in 1923
- Renovated units with new countertops, cabinets, and contemporary finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$183,969
Cap Rate
4.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,679,380
$3.7M
Cap Rate 7%
$2,628,129
$2.6M
Cap Rate 9%
$2,044,100
$2.0M
Market Conditions
NOI Build-Up for 14,850 SF
Gross rent
$352.8K $23.76/SF
− Vacancy
−$18.3K −$1.24/SF
EGI
$334.5K $22.52/SF
− OpEx
−$150.5K −$10.14/SF
NOI
$184.0K $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%
$3,679,380
Cap Rate 7%
$2,628,129
Cap Rate 9%
$2,044,100
Alternative Uses
Best Use
Apartment 5plus
$2.63M
$2.30M – $3.07M
NOI $183,969 @ 7.0% cap · market cap 4.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.00M
$3.50M – $4.67M
NOI $280,056 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
21
Residential units
Location Intelligence
Trade Area within ½ mile
5,407
Businesses Nearby
Explore this area
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
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Dual-building multifamily asset with updated interiors and preserved period finishes.
Where is this apartment building located?
The property is located at 146 E 2nd Ave Salt Lake City, UT.
What is the asking price?
The asking price for this property is $4,345,000.
What are key features of this property?
This property features: 21‑unit, 14,850‑square‑foot apartment property; Two brick apartment buildings constructed in 1923; Renovated units with new countertops, cabinets, and contemporary finishes
