Three-Unit Residential Income
254 FERN Salt Lake City, UT 84103
254 FERN, Salt Lake City, UT, 84103
$649,900
Pending
For Sale
$649,900
Pending
Two-story turn-of-the-century home converted into three apartment units with a functional one-unit-per-floor layout.
Property Size3,306 SF
Days on Market250
Property Features for 254 FERN
General Information
- Standard status
- Pending
- Size
- 3,306 SF
- Property subtype
- Triplex
Listing agency
Atara Investment Real Estate LLC
(801) 203-0298
Listed by
Chase Dixon
(801) 203-0298
Source
Xome
Added: Nov 15, 2025 Updated: Jul 23 at 2:57AM Checked: Jul 23 at 2:57AM
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 Atara Investment Real Estate LLC
Investment Insights
Based on property information with market context.
This for-sale three-unit residential income property consists of a beautiful two-story, turn-of-the-century house that has been converted into three apartment buildings. The layout is designed for straightforward living, with one unit on each floor.
The property is located in the Marmalade area of Salt Lake City, UT 84103, offering residents the combination of character and a practical, easy-to-rent setup.
As configured, the building provides separate apartment units within the existing two-story structure, supporting an income-focused rental arrangement while preserving the original home’s historic character.
The property is located in the Marmalade area of Salt Lake City, UT 84103, offering residents the combination of character and a practical, easy-to-rent setup.
As configured, the building provides separate apartment units within the existing two-story structure, supporting an income-focused rental arrangement while preserving the original home’s historic character.
Key Highlights
- Two‑story turn‑of‑the‑century home converted into 3 apartment units with a one‑unit‑per‑floor layout
- Brick exterior and asphalt roof
- Tile, vinyl, and carpet flooring throughout
Local Financial Insights For Multifamily LT 5
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 | $66.6k | $20.16 |
| − Vacancy | −$3.7k | −$1.11 |
| EGI | $63.0k | $19.05 |
| − OpEx | −$18.9k | −$5.72 |
| NOI | $44.1k | $13.34 |
3,306 SF · lease $20.16/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$629.8K
$551.1K – $734.8K
NOI $44,088 @ 7.0% cap · market cap 6.78%
Second Best
Apartment 5plus
$585.1K
$512.0K – $682.6K
NOI $40,956 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$890.7K
$779.4K – $1.04M
NOI $62,348 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Two-story turn-of-the-century home converted into three apartment units with a functional one-unit-per-floor layout.
Where is this triplex located?
The property is located at 254 FERN Salt Lake City, UT.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Two‑story turn‑of‑the‑century home converted into 3 apartment units with a one‑unit‑per‑floor layout; Brick exterior and asphalt roof; Tile, vinyl, and carpet flooring throughout
