Six-Unit Apartment
For Sale
$1,049,900
243 S 800 E, Salt Lake City, UT 84102
The apartment mix includes a studio, one- and two-bedroom layouts, shared laundry, and off-street parking.
Property Size2 SF
Lot Size0.24 Acres
Price / SF$207.20
Days on Market9
Property Features for 243 S 800 E
General Information
Standard status
Active
Size
2 SF
Total Parking Spaces
10
Lot size
0.24 Acres
Property subtype
> 4 Units
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x studio, 4 x 1BR, 1 x 2BR
Multifamily Units
6
Amenities
shared laundry
fenced yard
Building Details
Building Size
2 SF
Year Built
1926
Buildings
1
Listing Agency:
Utah's Wise Choice Real Estate
(801) 679-9474
Listed By:
Keaton Godfrey
(801) 654-1609
Source:
Liftrealty
Added: Oct 9
Changed: Oct 16
Last Checked: Oct 16 at 9:00AM
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 Utah's Wise Choice Real Estate
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Investment Insights
Based on property information with market context.
Built in 1926, this six-unit apartment property contains approximately 5,067 square feet across three contiguous parcels totaling about 0.24 acres. The unit mix comprises one studio, four one-bedroom apartments, and a two-bedroom basement unit. Hardwood flooring is present in five apartments; fireplaces serve Units 1 and 2, and Units 1, 2, and 3 have updated bathrooms. Shared laundry, a fenced yard, and 10 off-street parking spaces are on site. The roof and boiler are approximately 6 years old, exterior paint is approximately 2 years old, and the sewer line was relined approximately 3 years ago. The water line has also been replaced and upgraded. Foundation settling is present on the building’s north side, and the property is being sold as-is.
The three parcels provide approximately 147 feet of frontage along E Markea Ave and 70.5 feet along 800 East. The building parcel is zoned RMF-30, while the two parcels fronting E Markea Ave carry SR-3 zoning. Trolley Square, Whole Foods, and Trader Joe’s are within walking distance; TRAX is two blocks away, and the University of Utah is minutes from the property. Tenants pay electricity in Units 1 through 5; the owner covers gas, water, sewer, garbage, and electricity for Unit 6 and common areas.
The three parcels provide approximately 147 feet of frontage along E Markea Ave and 70.5 feet along 800 East. The building parcel is zoned RMF-30, while the two parcels fronting E Markea Ave carry SR-3 zoning. Trolley Square, Whole Foods, and Trader Joe’s are within walking distance; TRAX is two blocks away, and the University of Utah is minutes from the property. Tenants pay electricity in Units 1 through 5; the owner covers gas, water, sewer, garbage, and electricity for Unit 6 and common areas.
Key Highlights
- Six apartments: one studio, four one‑bedroom units, and one two‑bedroom basement apartment
- Approximately 5,067 square feet on three contiguous parcels totaling about 0.24 acres
- 10 off‑street parking spaces, including 3 tandem bays
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,772
Cap Rate
5.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,255,440
$1.3M
Cap Rate 7%
$896,743
$896.7K
Cap Rate 9%
$697,467
$697.5K
Market Conditions
NOI Build-Up for 5,067 SF
Gross rent
$120.4K $23.76/SF
− Vacancy
−$6.3K −$1.24/SF
EGI
$114.1K $22.52/SF
− OpEx
−$51.4K −$10.14/SF
NOI
$62.8K $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%
$1,255,440
Cap Rate 7%
$896,743
Cap Rate 9%
$697,467
Alternative Uses
Best Use
Apartment 5plus
$896.7K
$784.7K – $1.05M
NOI $62,772 @ 7.0% cap · market cap 5.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.37M
$1.19M – $1.59M
NOI $95,559 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
6
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,357
Businesses Nearby
Explore this area
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
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The apartment mix includes a studio, one- and two-bedroom layouts, shared laundry, and off-street parking.
Where is this apartment building located?
The property is located at 243 S 800 E Salt Lake City, UT.
What is the asking price?
The asking price for this property is $1,049,900.
What are key features of this property?
This property features: Six apartments: one studio, four one‑bedroom units, and one two‑bedroom basement apartment; Approximately 5,067 square feet on three contiguous parcels totaling about 0.24 acres; 10 off‑street parking spaces, including 3 tandem bays
