Renovated 5-Unit Apartment
For Sale
Contact for pricing
937 E 300 S, Salt Lake City, UT 84102
Five furnished apartments offer individual climate control, shared outdoor space, laundry, and designated parking.
Property Size5,678 SF
Price / SF$334.61
Days on Market203
Property Features for 937 E 300 S
General Information
Standard status
Active
Size
5,678 SF
Class
B
Total Parking Spaces
5
Property subtype
Multifamily
Zoning
R-3
Investment Type
Stabilized
Building Details
Year Built
1911
Year Renovated
2024
Buildings
1
Stories
3
Units
5
Tenancy
Multi
Listing Agency:
Lift Realty
Listed By:
Spencer Clawson · License #6608967-PB00
(801) 636-8426
Source:
Crexi
Added: Feb 13
Changed: Sep 2
Last Checked: Sep 2 at 10:10AM
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 Lift Realty
Investment Insights
Based on property information with market context.
This 5-unit apartment property includes 5678 SF of furnished residential space, with each apartment arranged with two bedrooms, one full bathroom, a living area, and dining space. Remote-controlled mini-split systems provide separate heating and cooling control throughout the units. The property has undergone extensive interior and infrastructure improvements while retaining its 1911 construction date.
Outdoor and operational features include private front porches or decks, a shared rear patio, on-site laundry, and designated parking. The property is located at 937 E 300 S in Salt Lake City, near the University of Utah, TRAX, and major employment centers. R-3 zoning supports the property's apartment use.
Outdoor and operational features include private front porches or decks, a shared rear patio, on-site laundry, and designated parking. The property is located at 937 E 300 S in Salt Lake City, near the University of Utah, TRAX, and major employment centers. R-3 zoning supports the property's apartment use.
Key Highlights
- 5‑unit furnished apartment property with 5678 SF
- Each apartment includes two bedrooms, one full bathroom, living area, and dining space
- Remote‑controlled mini‑split heating and cooling systems in every room
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$70,342
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.70%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,406,840
$1.4M
Cap Rate 7%
$1,004,886
$1.0M
Cap Rate 9%
$781,578
$781.6K
Market Conditions
NOI Build-Up for 5,678 SF
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.
Gross rent
$134.9K $23.76/SF
− Vacancy
−$7.0K −$1.24/SF
EGI
$127.9K $22.52/SF
− OpEx
−$57.6K −$10.14/SF
NOI
$70.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,406,840
Cap Rate 7%
$1,004,886
Cap Rate 9%
$781,578
Alternative Uses
Best Use
Apartment 5plus
$1.00M
$879.3K – $1.17M
NOI $70,342 @ 7.0% cap · market cap 3.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $107,081 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,770
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five furnished apartments offer individual climate control, shared outdoor space, laundry, and designated parking.
Where is this apartment building located?
The property is located at 937 E 300 S Salt Lake City, UT.
What is the asking price?
The asking price for this property is $1,899,900.
What are key features of this property?
This property features: 5‑unit furnished apartment property with 5678 SF; Each apartment includes two bedrooms, one full bathroom, living area, and dining space; Remote‑controlled mini‑split heating and cooling systems in every room
