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Multifamily Asset in Millcreek Corridor

3910 1040 E, Salt Lake City, UT 84106

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For Sale

$2,100,000

Multifamily asset in Salt Lake City's Millcreek corridor.

Type:Multifamily

HighLights

Core+ multifamily asset in Salt Lake City's Millcreek corridor.
In‑place cash flow with upside potential.
Mark‑to‑market opportunity due to below‑market rents.
Strong demographic tailwinds from Utah's population growth.
Benefits from a widening mortgage‑to‑rent affordability gap.
Part of a two‑property portfolio (16 units total).

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Listing Contact

Evan Clark

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For Sale

$2,100,000

Multifamily asset in Salt Lake City's Millcreek corridor.

Type:Multifamily

Added:: Apr 20, 2026
Days on Market:: 50
Last Refresh:: Apr 20 at 8:09 pm

Property Features for 3910 1040 E

General Information

Standard status: Active
Property subtype: Multifamily

We can help!

Listing Contact

Evan Clark

Listing agent Evan Clark License #UT: 10187590-SA00, ID: 8071166

Listing office Salt Lake City Office

Listing date Apr 20, 2026

Source Marcusmillichap

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 Salt Lake City Office

HighLights

Core+ multifamily asset in Salt Lake City's Millcreek corridor.
In‑place cash flow with upside potential.
Mark‑to‑market opportunity due to below‑market rents.
Strong demographic tailwinds from Utah's population growth.
Benefits from a widening mortgage‑to‑rent affordability gap.
Part of a two‑property portfolio (16 units total).

Overview

This multifamily asset is located in Salt Lake City's Millcreek corridor, a resilient rental submarket. Offered as part of a two-property, 16-unit portfolio, the seller prefers a package sale but will consider individual offers. The investment offers in-place cash flow and potential upside through tenant turnover and ancillary income strategies. In-place rents reflect a tenured resident base, with an average tenancy of approximately two and a half years, signaling stability and presenting a mark-to-market opportunity as units turn. The asset benefits from demographic tailwinds driven by Utah's sustained population growth and a widening mortgage-to-rent affordability gap that continues to push would-be buyers into the rental market.

Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Salt Lake City
County: Salt Lake
State: Utah
Longitude: -111.861692
Latitude: 40.686909

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What type of property is this?

Apartment building - Multifamily asset in Salt Lake City's Millcreek corridor.

Where is this apartment building located?

The property is located at 3910 1040 E Salt Lake City, UT.

What is the asking price?

The asking price for this property is $2,100,000.

What are key features of this property?

This property features: Core+ multifamily asset in Salt Lake City's Millcreek corridor.; In‑place cash flow with upside potential.; Mark‑to‑market opportunity due to below‑market rents.

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3910 1040 E, Salt Lake City, UT 84106

Multifamily asset in Salt Lake City's Millcreek corridor.

Property Features for 3910 1040 E

General Information

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Educational Property in Salt Lake

Converted Multifamily Apartment Building

Unique Loft Office Space

Industrial Property in Prime Location

Duplex with Two 5-Bed Units

Professional Office Building in Sugarhouse

Remodeled Duplex in Sugar House

Immaculate Duplex with Fenced Yard

Salt Lake City Multifamily Investment

Duplex and House Multi-Family

Remodeled Legal Duplex

Downtown Salt Lake City Triplex

FAQs

3910 1040 E, Salt Lake City, UT 84106

Multifamily asset in Salt Lake City's Millcreek corridor.

Property Features for 3910 1040 E

General Information

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Educational Property in Salt Lake

Converted Multifamily Apartment Building

Unique Loft Office Space

Industrial Property in Prime Location

Duplex with Two 5-Bed Units

Professional Office Building in Sugarhouse

Remodeled Duplex in Sugar House

Immaculate Duplex with Fenced Yard

Salt Lake City Multifamily Investment

Duplex and House Multi-Family

Remodeled Legal Duplex

Downtown Salt Lake City Triplex

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