5-Unit Victorian Apartment
163 S 600 E, Salt Lake City, UT 84102
For Sale
$1,450,000
Historic character, individual electrical meters, shared laundry and private entrances distinguish this fully occupied residential property.
Property Size1,904 SF
Price / SF$287.81
Days on Market11
Property Features for 163 S 600 E
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Occupancy
Site & Location
Neighborhood
Public Transit
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Amenities
shared laundry facilities
storage
private entrances
Building Details
Building Size
Year Built
Buildings
Construction
Tenancy
Listing Agency:
Pride and Property Realty LLC
Listed By:
Bryce Abplanalp · License UT #8930479
(801) 673-0959
Source:
Liftrealty
Added: Nov 5
Changed: Nov 14
Last Checked: Nov 14 at 2:26PM
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 Pride and Property Realty LLC
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Investment Insights
Based on property information with market context.
Built in 1904, this 5,038-square-foot Victorian contains five apartments: four one-bedroom units and one three-bedroom, three-bathroom residence. The remodeled top-floor one-bedroom, one-bathroom apartment has two private patios. Shared laundry, storage, private entrances and six off-street parking spaces serve the property. Electrical meters are separate, and HVAC, plumbing and electrical systems have received major improvements.
The property is in Salt Lake City between downtown and the University of Utah. All five apartments are occupied, and rents have risen approximately 43% since 2020.
The property is in Salt Lake City between downtown and the University of Utah. All five apartments are occupied, and rents have risen approximately 43% since 2020.
Key Highlights
- Five apartments: four one‑bedroom units and one three‑bedroom, three‑bathroom unit
- 5,038 square feet; built in 1904
- Remodeled top‑floor one‑bedroom, one‑bathroom unit with two private patios
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,413
Cap Rate
4.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,248,260
$1.2M
Cap Rate 7%
$891,614
$891.6K
Cap Rate 9%
$693,478
$693.5K
Market Conditions
NOI Build-Up for 5,038 SF
Gross rent
$119.7K $23.76/SF
− Vacancy
−$6.2K −$1.24/SF
EGI
$113.5K $22.52/SF
− OpEx
−$51.1K −$10.14/SF
NOI
$62.4K $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%
$1,248,260
Cap Rate 7%
$891,614
Cap Rate 9%
$693,478
Alternative Uses
Best Use
Apartment 5plus
$891.6K
$780.2K – $1.04M
NOI $62,413 @ 7.0% cap · market cap 4.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.36M
$1.19M – $1.58M
NOI $95,012 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,574
Businesses Nearby
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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
$487,200
Median Home Value
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Market
Average Price Trend$/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 character, individual electrical meters, shared laundry and private entrances distinguish this fully occupied residential property.
Where is this apartment building located?
The property is located at 163 S 600 E Salt Lake City, UT.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Five apartments: four one‑bedroom units and one three‑bedroom, three‑bathroom unit; 5,038 square feet; built in 1904; Remodeled top‑floor one‑bedroom, one‑bathroom unit with two private patios
