219 Central Ave Salt Lake City, UT 84116
- Land
- 7.18 lot acres
Current Use by Public Records
- Car Deal Auto Sales / Car Dealer
Property Details for 219 Central Ave
- Lot size
- 7.18 lot acres
- Property type
- Land
Description
This exceptional 7.18-acre land parcel in Salt Lake City, UT, presents a remarkable opportunity for multifamily development. Zoned RM Multi-Housing, this fully entitled project allows for the construction of 423 apartments across four buildings, plus 7,000 square feet of commercial space on Central Avenue. The approved design includes an upscale clubhouse, pools, fitness center, dog parks, walking trails, and stunning Wasatch Mountain views. Conveniently located near two UTA Trax stations (Murray North and Meadowbrook), this site boasts a prime location along beautiful Big Cottonwood Creek. The property includes a $3.5 million Tax Increment Financing (TIF) agreement, significantly reducing construction costs. Comprehensive due diligence has already been completed, encompassing surveys, geotechnical and environmental studies, and final grading plans. The APNs are 15364530100000, 21012030030000, and 21012060050000. The asking price is $11,877,000, with a land value of $43.66 per square foot. This Qualified Opportunity Zone property offers a compelling investment prospect with significant upside potential. The addresses associated with the property are 219 W Central Ave, Millcreek, UT 84116 and 175 W Central Ave, Millcreek City, UT 84107. Sophisticated building designs are in place, ready for final construction drawings.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Salt Lake City
- County
- Salt Lake
- State
- Utah
- Longitude
- -111.897
- Latitude
- 40.6825
