Five-Unit Apartment
For Sale
$1,899,000
937 E 300 S, Salt Lake City, UT 84102
Residential, Salt Lake City, UT
Property Size5,678 SF
Lot Size0.12 Acres
Price / SF$334.45
Days on Market209
Property Features for 937 E 300 S
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Zoning description
R-3
Bedrooms
10
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 10, Bedroom 3, Bedroom 9, Bathroom 3, Bathroom 5, Bedroom 5, Bedroom 8, Bathroom 4, Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 6, Bedroom 4, Bedroom 7
Parking
5
Window features
Drapes
Patio and Porch features
Deck, Patio
Interior features
Disposal, Kitchen: Updated, Range/Oven: Free Stdng., Dishwasher: Built-In
Exterior features
Basement Entrance, Deck; Covered, Double Pane Windows, Patio: Covered, Patio: Open
Lot features
Road: Paved, Sidewalks, Sprinkler: Auto- Full, View: Mountain
Elementary school
Wasatch
Middle school
Bryant
High school
East
Elementary school district
Salt Lake
Middle school district
Salt Lake
High school district
Salt Lake
Subdivision
Salt Lake City; So. Salt Lake
Standard status
Active
APN
16-05-182-025
Size
5,678 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
6151
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Amenities
private front porches or decks
shared rear patio
on-site laundry
designated parking
remote-controlled mini-split heating and cooling systems
Building Details
Year built
1911
Number of units
5
Flooring type
Tile, Carpet
Building materials
Brick, Composition, Stone
Roof type
Rubber
Architectural style
Other
Listing Agency:
Lift Realty
(801) 609-8511
Listed By:
Lucile Walbeck
(801) 792-4847
Added: Feb 4
Changed: Aug 21
Last Checked: Sep 1 at 7:06PM
MLS# 2135108
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.
This 5-unit apartment property contains 5,678 square feet and was built in 1911. Each residence includes two bedrooms, one full bathroom, a living area, and dining space. Improvements include remote-controlled mini-split heating and cooling systems, updated kitchens with ranges and built-in dishwashers, double-pane windows, and a combination of tile and carpet flooring. Brick, stone, and composition construction are complemented by a rubber roof and public sewer service.
Outdoor features include private front porches or decks, a shared rear patio, and designated on-site parking. The property also has on-site laundry facilities. Located at 937 E 300 S in Salt Lake City, the apartments are near the University of Utah, TRAX, and major employment centers. The property is zoned Multi-Family and occupies 0.12 acres.
Outdoor features include private front porches or decks, a shared rear patio, and designated on-site parking. The property also has on-site laundry facilities. Located at 937 E 300 S in Salt Lake City, the apartments are near the University of Utah, TRAX, and major employment centers. The property is zoned Multi-Family and occupies 0.12 acres.
Key Highlights
- 5‑unit apartment property with 5,678 square feet
- Each apartment includes two bedrooms and one full bathroom
- Built in 1911 with brick, stone, and composition construction
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
Lease Details
5
Residential units
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Updated apartments offer individual heating and cooling, 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 $1,899,000.
What are key features of this property?
This property features: 5‑unit apartment property with 5,678 square feet; Each apartment includes two bedrooms and one full bathroom; Built in 1911 with brick, stone, and composition construction
