17-Unit Two-Building Apartment
35 O St, Salt Lake City, UT 84103
For Sale
$3,000,000
Residential, Salt Lake City, UT
Property Size12,495 SF
Lot Size0.43 Acres
Price / SF$240.10
Days on Market47
Property Features for 35 O St
General Information
Property type
Property subtype
Zoning description
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Window features
Lot features
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Subdivision
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Utilities
Heating system
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Architectural style
Buildings
Listing Agency:
Investment Realty Advisors LLC
(435) 485-7070
Listed By:
Porter Criddle
(801) 694-5291
Added: Sep 29
Changed: Oct 24
Last Checked: Nov 14 at 7:06PM
MLS# 2188158
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Investment Insights
Based on property information with market context.
Located at 25 and 35 O Street, the property comprises two apartment buildings with 17 residences across 12,495 square feet on 0.43 acres. Built in 1953, the buildings have brick exteriors and a combined 19 covered parking stalls. The unit mix includes six two-bedroom, one-bathroom apartments at 25 O Street and eleven one-bedroom, one-bathroom apartments at 35 O Street.
The property is in Salt Lake City’s Avenues neighborhood, with proximity to downtown, the University of Utah, employment centers, dining, shopping, and recreation. Flooring includes vinyl, hardwood, and tile; heating is radiant.
The property is in Salt Lake City’s Avenues neighborhood, with proximity to downtown, the University of Utah, employment centers, dining, shopping, and recreation. Flooring includes vinyl, hardwood, and tile; heating is radiant.
Key Highlights
- Two apartment buildings with 17 units across 12,495 square feet
- Unit mix: six 2‑bedroom/1‑bath units and eleven 1‑bedroom/1‑bath units
- 19 covered parking stalls: nine at 25 O Street and ten at 35 O Street
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.
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Property Analytics
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Lease Details
17
Residential units
Location Intelligence
Trade Area within ½ mile
1,634
Businesses Nearby
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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
$710,700
Median Home Value
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Market
Average Price Trend$/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 - Brick construction, covered parking, and a mix of one- and two-bedroom residences characterize the property.
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: Two apartment buildings with 17 units across 12,495 square feet; Unit mix: six 2‑bedroom/1‑bath units and eleven 1‑bedroom/1‑bath units; 19 covered parking stalls: nine at 25 O Street and ten at 35 O Street
