Nine-Unit Multifamily
For Sale
Contact for pricing
828 South 500 East, Salt Lake City, UT 84102
Nine-unit multifamily with updated interiors on a compact parcel at 828 South 500 East.
Property Size6,068 SF
Lot Size0.19 Acres
Price / SF$313.12
Days on Market111
Property Features for 828 South 500 East
General Information
Standard status
Active
Size
6,068 SF
Class
B
Total Parking Spaces
9
Lot size
0.19 Acres
Property subtype
Multifamily
Zoning
RMF-30
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$95,722
Additional Details
Multifamily Units
9
Building Details
Year Built
1967
Year Renovated
2019
Units
9
Tenancy
Multi
Listing Agency:
Align Complete Real Estate Services
Listed By:
Greg Ratliff · License #UT 5485327-SA00
Source:
Crexi
Added: Jun 18
Changed: Oct 4
Last Checked: Oct 5 at 7:02PM
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 Align Complete Real Estate Services
Investment Insights
Based on property information with market context.
This well-maintained nine-unit multifamily property is offered for sale on a 0.19-acre parcel. The building features updated unit interiors, providing a refreshed residential product within a compact footprint. Total property size is listed at 6,068 square feet, supporting a straightforward, income-oriented layout typical of small multifamily ownership.
Located at 828 South 500 East in Salt Lake City, the property is situated in the Liberty Park neighborhood. For buyers, this central residential setting can be important for day-to-day tenant demand and long-term usability of the asset.
As a residential income property, the configuration is designed for investors or operators seeking a manageable, nine-unit building with interior updates already in place. Updated interiors can help position the units for competitive leasing and resident retention, while the small-scale size may be attractive for buyers who prefer hands-on oversight and ongoing property management rather than larger, more complex portfolios.
Located at 828 South 500 East in Salt Lake City, the property is situated in the Liberty Park neighborhood. For buyers, this central residential setting can be important for day-to-day tenant demand and long-term usability of the asset.
As a residential income property, the configuration is designed for investors or operators seeking a manageable, nine-unit building with interior updates already in place. Updated interiors can help position the units for competitive leasing and resident retention, while the small-scale size may be attractive for buyers who prefer hands-on oversight and ongoing property management rather than larger, more complex portfolios.
Key Highlights
- 9‑unit multifamily property built in 1967
- Located at 828 South 500 East on a 0.19‑acre parcel
- Updated unit interiors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,173
Cap Rate
3.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,503,460
$1.5M
Cap Rate 7%
$1,073,900
$1.1M
Cap Rate 9%
$835,256
$835.3K
Market Conditions
NOI Build-Up for 6,068 SF
Gross rent
$144.2K $23.76/SF
− Vacancy
−$7.5K −$1.24/SF
EGI
$136.7K $22.52/SF
− OpEx
−$61.5K −$10.14/SF
NOI
$75.2K $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%
$1,503,460
Cap Rate 7%
$1,073,900
Cap Rate 9%
$835,256
Alternative Uses
Best Use
Apartment 5plus
$1.07M
$939.7K – $1.25M
NOI $75,173 @ 7.0% cap · market cap 3.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.63M
$1.43M – $1.91M
NOI $114,436 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
1,623
Businesses Nearby
Explore this area
Business Placement
Demographics for 84102, UT
18,857
Population
11,348
Households
1.7
Avg Household Size
29
Median Age
56%
College-Educated
94%
High-School Grad
1.9 sq mi
ZIP Area
9,925
Density / Sq Mi
$50,040
Median Household Income
$32,432
Median Earnings
$1,305
Median Rent
$487,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Nine-unit multifamily with updated interiors on a compact parcel at 828 South 500 East.
Where is this apartment building located?
The property is located at 828 South 500 East Salt Lake City, UT.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 9‑unit multifamily property built in 1967; Located at 828 South 500 East on a 0.19‑acre parcel; Updated unit interiors
