Converted Multifamily Apartment
653 E 300 S Salt Lake City, UT 84102
653 E 300 S, Salt Lake City, UT, 84102
$2,200,000
For Sale
$2,200,000
MULTI_FAMILY - Other - Salt Lake City, UT
Property Size11,564 SF
Lot Size0.22 Acres
Price / SF$190.25
Days on Market46
Property Features for 653 E 300 S
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Multi-Family
- Bedrooms
- 18
- Bathrooms
- 14
- Rooms
- Bathroom 10, Bathroom 11, Bedroom 4, Bathroom 13, Bedroom 8, Bathroom 1, Bedroom 10, Bathroom 8, Bathroom 3, Bathroom 14, Bedroom 7, Bedroom 9, Bathroom 5, Bathroom 2, Bathroom 9, Bedroom 16, Bathroom 7, Bathroom 4, Bedroom 1, Bedroom 5, Bedroom 2, Bedroom 12, Bathroom 12, Bedroom 17, Bedroom 15, Bedroom 14, Bedroom 11, Bedroom 13, Bedroom 6, Bedroom 3, Bedroom 18, Bathroom 6
- Parking
- 9
- Patio and Porch features
- Patio
- Exterior features
- Patio: Covered
- Standard status
- Active
- APN
- 16-05-153-009
- Size
- 11,564 SF
- Lot size
- 0.22 Acres
Taxes and HOA fees
- Tax Annual Amount
- 14400
Utilities
- Sewer type
- Public Sewer
- Heating system
- Steam
Building Details
- Year built
- 1913
- Floors in Building
- 3
- Number of units
- 14
- Flooring type
- Hardwood, Carpet
- Building materials
- Brick
- Roof type
- Asphalt
- Architectural style
- Other
Listing agency
Realtypath LLC (Preferred)
(801) 386-5908
Listed by
Michael Lund
(801) 889-8724
Added: Jun 6 Updated: Jul 17 at 10:37AM Checked: Jul 21 at 9:06AM
MLS# 2163456
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.
Investment Insights
Based on property information with market context.
The George is a historic apartment building originally opened in 1911 as Salt Lake City’s first hotel and later converted into a modern multifamily property. The building features 14 apartment units in total, including four 2-bedroom apartments and ten 1-bedroom apartments. This configuration creates a straightforward mix of unit types for residential income use within a single ownership.
Located in downtown Salt Lake City, the property is described as providing easy access to local dining and entertainment, as well as shopping opportunities. The remarks also note access to the Trax station, which can be a practical consideration for tenants who prefer public transit options.
For investors and operators, the unit mix of one-bedroom and two-bedroom apartments can support tenant demand across different household needs while keeping leasing and property management concentrated within one building. The building’s continued residential conversion and defined unit count may also simplify underwriting around current operational structure. This offering is for sale as a multifamily asset under Multi-Family zoning.
Located in downtown Salt Lake City, the property is described as providing easy access to local dining and entertainment, as well as shopping opportunities. The remarks also note access to the Trax station, which can be a practical consideration for tenants who prefer public transit options.
For investors and operators, the unit mix of one-bedroom and two-bedroom apartments can support tenant demand across different household needs while keeping leasing and property management concentrated within one building. The building’s continued residential conversion and defined unit count may also simplify underwriting around current operational structure. This offering is for sale as a multifamily asset under Multi-Family zoning.
Key Highlights
- Brick apartment building built in 1913
- 14 total units: four 2‑bedroom apartments and ten 1‑bedroom units
- Covered patio
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 | $274.8k | $23.76 |
| − Vacancy | −$14.3k | −$1.24 |
| EGI | $260.5k | $22.52 |
| − OpEx | −$117.2k | −$10.14 |
| NOI | $143.3k | $12.39 |
11,564 SF · lease $23.76/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.05M
$1.79M – $2.39M
NOI $143,260 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.12M
$2.73M – $3.63M
NOI $218,086 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
World Class Painting
Painting Service
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Historically converted building offers a mix of one- and two-bedroom units with convenient downtown access.
Where is this apartment building located?
The property is located at 653 E 300 S Salt Lake City, UT.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Brick apartment building built in 1913; 14 total units: four 2‑bedroom apartments and ten 1‑bedroom units; Covered patio
