17-Unit Apartment
New
For Sale
$3,000,000
35 O St, Salt Lake City, UT 84103
Two buildings combine covered parking with a mix of one- and two-bedroom apartments.
Property Size12,495 SF
Price / SF$240.10
Days on Market7
Property Features for 35 O St
General Information
Standard status
Active
Size
12,495 SF
Total Parking Spaces
19
Property subtype
Multi-Family
Units
Unit Mix
6 x 2BR/1BA, 11 x 1BR/1BA
Multifamily Units
17
Amenities
covered parking
Building Details
Year Built
1953
Buildings
2
Listing Agency:
Bt Dynamic Realty, LLC
Listed By:
The One Group Utah
(385) 350-2888
Source:
Theonegrouputah
Added: Sep 30
Changed: Oct 6
Last Checked: Oct 5 at 6:07PM
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 Bt Dynamic Realty, LLC
Investment Insights
Based on property information with market context.
This multifamily property comprises two buildings with 17 apartments and 19 covered parking stalls. The building at 25 O Street contains six two-bedroom, one-bath units, while the 35 O Street building has eleven one-bedroom, one-bath units. The property was built in 1953 and totals 12,495 square feet.
Located in Salt Lake City’s Avenues neighborhood, the property is near downtown, the University of Utah, employment centers, dining, shopping, and recreation.
Located in Salt Lake City’s Avenues neighborhood, the property is near downtown, the University of Utah, employment centers, dining, shopping, and recreation.
Key Highlights
- 17 apartments across two buildings
- 19 covered parking stalls
- 25 O Street: six 2‑bedroom/1‑bath units with nine covered stalls
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$154,794
Cap Rate
5.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,095,880
$3.1M
Cap Rate 7%
$2,211,343
$2.2M
Cap Rate 9%
$1,719,933
$1.7M
Market Conditions
NOI Build-Up for 12,495 SF
Gross rent
$296.9K $23.76/SF
− Vacancy
−$15.4K −$1.24/SF
EGI
$281.4K $22.52/SF
− OpEx
−$126.6K −$10.14/SF
NOI
$154.8K $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%
$3,095,880
Cap Rate 7%
$2,211,343
Cap Rate 9%
$1,719,933
Alternative Uses
Best Use
Apartment 5plus
$2.21M
$1.93M – $2.58M
NOI $154,794 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.37M
$2.95M – $3.93M
NOI $235,643 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
17
Residential units
Location Intelligence
Trade Area within ½ mile
1,634
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two buildings combine covered parking with a mix of one- and two-bedroom apartments.
Where is this apartment building located?
The property is located at 35 O St Salt Lake City, UT.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 17 apartments across two buildings; 19 covered parking stalls; 25 O Street: six 2‑bedroom/1‑bath units with nine covered stalls
