Stunning Multi-Family Investment
146 E 2ND AVE Salt Lake City, UT 84103
146 E 2ND AVE, Salt Lake City, UT, 84103
$4,345,000
For Sale
$4,345,000
MULTI_FAMILY - Other - Salt Lake City, UT
Property Size14,850 SF
Lot Size0.62 Acres
Price / SF$292.59
Days on Market156
Property Features for 146 E 2ND AVE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Multi-Family
- Bedrooms
- 28
- Bathrooms
- 21
- Rooms
- Bedroom 20, Bedroom 18, Bedroom 22, Bedroom 3, Bedroom 14, Bedroom 13, Bedroom 9, Bedroom 2, Bathroom 8, Bathroom 6, Bedroom 4, Bedroom 28, Bedroom 8, Bathroom 10, Bedroom 26, Bathroom 21, Bathroom 14, Bathroom 19, Bathroom 9, Bathroom 5, Bathroom 11, Bedroom 25, Bathroom 16, Bedroom 23, Bedroom 24, Bedroom 21, Bathroom 1, Bathroom 7, Bathroom 17, Bedroom 11, Bedroom 12, Bedroom 6, Bathroom 4, Bathroom 15, Bathroom 20, Bathroom 18, Bathroom 2, Bathroom 13, Bathroom 12, Bedroom 16, Bedroom 1, Bedroom 7, Bedroom 17, Bedroom 15, Bedroom 10, Bedroom 19, Bedroom 5, Bedroom 27, Bathroom 3
- Parking features
- Covered
- Window features
- Blinds
- Standard status
- Active
- APN
- 09-31-379-011
- Size
- 14,850 SF
- Lot size
- 0.62 Acres
Taxes and HOA fees
- Tax Annual Amount
- 24632
Utilities
- Heating system
- Natural Gas, Wall Furnace, Central
- Water source
- Private
Building Details
- Year built
- 1923
- Floors in Building
- 3
- Number of units
- 21
- Flooring type
- Hardwood, Carpet, Tile
- Building materials
- Brick
- Roof type
- Membrane
- Architectural style
- Other
Listing Agency
Investment Realty Advisors LLC
(435) 485-7070
411 W 7200 S Ste 201, Salt Lake City, UT
Listed by
Cory Waddoups
(801) 609-8342
Added: Feb 12 Checked: Jul 18 at 11:06 am
MLS# 2136942
Listing URL
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Investment Insights
Based on property information with market context.
The Stanton-Yale Apartments present a unique multi-family investment opportunity, featuring two buildings in a historic and desirable neighborhood of Salt Lake City, Utah. This 21-unit brick property combines architectural charm with modern upgrades. The units have been renovated with new countertops, cabinets, and contemporary finishes, while preserving the original hardwood flooring and penny tile bathrooms. The property, situated on a 0.62-acre lot, offers potential for operational upside through improved management, occupancy stabilization, and system upgrades. The property size is 14,850 square feet. Parking and a strong rental location enhance the value-add potential. Parcel 09-31-379-010 is also included in the sale. The zoning is Multi-Family.
Key Highlights
- 21‑unit brick multi‑family property built in 1923
- Each unit has been renovated with new countertops and cabinets plus contemporary finishes
- Flooring includes original hardwood floors and penny tile bathroom finishes
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 | $352.8k | $23.76 |
| − Vacancy | −$18.3k | −$1.24 |
| EGI | $334.5k | $22.52 |
| − OpEx | −$150.5k | −$10.14 |
| NOI | $184.0k | $12.39 |
14,850 SF · lease $23.76/SF/yr · vacancy 5.20% · expense 45.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Rare dual building multi-family property in historic Salt Lake City.
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 brick multi‑family property built in 1923; Each unit has been renovated with new countertops and cabinets plus contemporary finishes; Flooring includes original hardwood floors and penny tile bathroom finishes
