16-Unit Brick Apartment
905 E 200 S, Salt Lake City, UT 84102
For Sale
$2,950,000
Classic walk-up community with updated building systems and a mix of renovated and original residences.
Property Size1,937 SF
Price / SF$290.64
Days on Market103
Property Features for 905 E 200 S
General Information
Standard status
Size
Elevators
Property subtype
Site & Location
Neighborhood
Additional Details
Furnished
Opportunity Zone
Sprinkler System
Building Details
Building Size
Year Built
Abandoned
Listing Agency:
Christie's International Real Estate VUE (Christies VUE Salt Lake)
(801) 657-5453
Listed By:
Cherie M Major · License UT #6195710
(801) 557-5627
Source:
Liftrealty
Added: Aug 4
Changed: Nov 12
Last Checked: Nov 12 at 7:24AM
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 Christie's International Real Estate VUE (Christies VUE Salt Lake)
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Investment Insights
Based on property information with market context.
This 16-unit brick apartment property was built in 1937 and features a classic walk-up configuration. The unit mix includes 8 studios, 5 one-bedroom apartments, and 3 two-bedroom apartments. Seven residences have been updated, while the remaining units retain the building’s original character. Recent improvements include a new roof, refurbished exterior siding, and plumbing and electrical upgrades completed in 2024.
Located at 905 E 200 S in Salt Lake City’s East Central area, the property sits between downtown Salt Lake City and the University of Utah. TRAX is three blocks away, with shopping and dining within walking distance. The 10,150-square-foot community combines established brick construction, varied apartment layouts, and completed capital improvements in a central urban setting.
Located at 905 E 200 S in Salt Lake City’s East Central area, the property sits between downtown Salt Lake City and the University of Utah. TRAX is three blocks away, with shopping and dining within walking distance. The 10,150-square-foot community combines established brick construction, varied apartment layouts, and completed capital improvements in a central urban setting.
Key Highlights
- 16‑unit brick apartment property built in 1937
- Unit mix includes 8 studios, 5 one‑bedrooms, and 3 two‑bedrooms
- 7 units have been individually updated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$125,743
Cap Rate
4.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,514,860
$2.5M
Cap Rate 7%
$1,796,329
$1.8M
Cap Rate 9%
$1,397,144
$1.4M
Market Conditions
NOI Build-Up for 10,150 SF
Gross rent
$241.2K $23.76/SF
− Vacancy
−$12.5K −$1.24/SF
EGI
$228.6K $22.52/SF
− OpEx
−$102.9K −$10.14/SF
NOI
$125.7K $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%
$2,514,860
Cap Rate 7%
$1,796,329
Cap Rate 9%
$1,397,144
Alternative Uses
Best Use
Apartment 5plus
$1.80M
$1.57M – $2.10M
NOI $125,743 @ 7.0% cap · market cap 4.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.73M
$2.39M – $3.19M
NOI $191,419 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,970
Businesses Nearby
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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
$487,200
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Salt Lake City, UT
Properties on Market for Apartment buildings in Salt Lake City
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Classic walk-up community with updated building systems and a mix of renovated and original residences.
Where is this apartment building located?
The property is located at 905 E 200 S Salt Lake City, UT.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 16‑unit brick apartment property built in 1937; Unit mix includes 8 studios, 5 one‑bedrooms, and 3 two‑bedrooms; 7 units have been individually updated
