Victorian Triplex with Separate
For Sale
$799,000
361 N Main St W, Salt Lake City, UT 84103
Grandfathered triplex use combines a Victorian duplex with a converted former storefront studio.
Property Size1,830 SF
Price / SF$436.61
Days on Market53
Property Features for 361 N Main St W
General Information
Standard status
Active
Size
1,830 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Amenities
cobblestone driveway
basement laundry
Building Details
Year Built
1905
Construction
Victorian
Listing Agency:
Equity Real Estate
Listed By:
Farmhouse Realty Group
(801) 721-8150
Source:
Farmhouserealty
Added: Aug 26
Changed: Oct 16
Last Checked: Oct 16 at 8:24AM
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 Equity Real Estate
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Investment Insights
Based on property information with market context.
Built in 1905, this Salt Lake City triplex includes a Victorian duplex and a separate studio created from a former storefront. The property offers three units within a distinctive residential configuration, with a reported 1,830 square feet excluding basement area. A cobblestone driveway serves the property, and the duplex units share basement laundry facilities.
The property is located on N Main St W in Salt Lake City’s Marmalade neighborhood. The triplex use has been grandfathered by Salt Lake City, and a rebuild letter is on file. The property is currently occupied; tenants should not be disturbed, and showings are available with an accepted offer.
The property is located on N Main St W in Salt Lake City’s Marmalade neighborhood. The triplex use has been grandfathered by Salt Lake City, and a rebuild letter is on file. The property is currently occupied; tenants should not be disturbed, and showings are available with an accepted offer.
Key Highlights
- Three‑unit configuration with a Victorian duplex and separate studio
- Grandfathered triplex use in Salt Lake City
- Former storefront converted into a studio unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,405
Cap Rate
3.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$488,100
$488.1K
Cap Rate 7%
$348,643
$348.6K
Cap Rate 9%
$271,167
$271.2K
Market Conditions
NOI Build-Up for 1,830 SF
Gross rent
$36.9K $20.16/SF
− Vacancy
−$2.0K −$1.11/SF
EGI
$34.9K $19.05/SF
− OpEx
−$10.5K −$5.72/SF
NOI
$24.4K $13.34/SF
Area
Salt Lake City, UT
Vacancy
5.50%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$488,100
Cap Rate 7%
$348,643
Cap Rate 9%
$271,167
Alternative Uses
Best Use
Multifamily LT 5
$348.6K
$305.1K – $406.8K
NOI $24,405 @ 7.0% cap · market cap 3.05%
Second Best
Apartment 5plus
$323.9K
$283.4K – $377.9K
NOI $22,671 @ 7.0% cap · market cap 2.84%
Theoretical Best
Office A
$493.0K
$431.4K – $575.2K
NOI $34,512 @ 7.0% cap · market cap 4.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,065
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Grandfathered triplex use combines a Victorian duplex with a converted former storefront studio.
Where is this triplex located?
The property is located at 361 N Main St W Salt Lake City, UT.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Three‑unit configuration with a Victorian duplex and separate studio; Grandfathered triplex use in Salt Lake City; Former storefront converted into a studio unit
