423 E 1ST Ave N, Salt Lake City, UT 84103
MULTI_FAMILY - Other - Salt Lake City, UT
- Added:
- Jun 26, 2026
- Days on Market:
- 2
- Last Refresh:
- Jun 27 at 2:06 pm
Property Features for 423 E 1ST Ave N
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Multi-Family
- Bedrooms
- 5
- Bathrooms
- 5
- Rooms
- Bathroom 4, Bathroom 1, Bedroom 3, Bedroom 2, Bedroom 1, Bedroom 5, Bathroom 5, Bedroom 4, Bathroom 3, Bathroom 2
- Parking
- 10
- Parking features
- Covered
- Patio and Porch features
- Patio
- Exterior features
- Basement Entrance, Patio: Covered
- Standard status
- Active
- APN
- 09-31-480-014
- Size
- 3,195 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Annual Amount
- 4467
Utilities
- Sewer type
- Public Sewer
Building Details
- Year built
- 1904
- Floors in Building
- 2
- Number of units
- 5
- Building materials
- Brick, Concrete
- Roof type
- Asphalt
- Architectural style
- Other
Listing agent Casey Halliday (801) 520-6162
Listing office Windermere Real Estate 1240 E 2100 S 600, Salt Lake City, UT (801) 485-3151
Listing date Jun 26, 2026
Copyright © 2026 UtahRealEstate.com. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Five‑unit multifamily property with five 1‑bedroom, 1‑bathroom units
- Year built 1904 with brick and concrete construction materials
- Covered patio and patio area, plus a basement entrance
- Public sewer connected; asphalt roof
- Covered parking included
- Large lot with renovation needed (value‑add potential noted)
Overview
Located in Salt Lake City’s Avenues, the property is described as being just minutes from Downtown Salt Lake City and the University of Utah, along with major hospitals, restaurants, and outdoor recreation. The listing also notes that the oversized lot may offer future possibilities, subject to buyer verification.
For investors, this configuration of five separate one-bedroom units can appeal to buyers looking for a value-add project with clear unit count and layout. For owner-users, the same structure may support continued income generation while renovations are planned. All prospective buyers should confirm renovation scope and any future development options through their own due diligence, including feasibility tied to the lot size.
Local Financial Insights For Apartment 5plus
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 | $75.9k | $23.76 |
| − Vacancy | −$3.9k | −$1.24 |
| EGI | $72.0k | $22.52 |
| − OpEx | −$32.4k | −$10.14 |
| NOI | $39.6k | $12.39 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Salt Lake City
- County
- Salt Lake
- State
- Utah
- Longitude
- -111.876713
- Latitude
- 40.770826
