2722 Edison St South Salt Lake, UT 84115
- Apartment buildings
- 0.69 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 2722 Edison St
- Year built
- 1984
- Lot size
- 0.69 lot acres
- Property type
- Apartment buildings
Description
This exceptional 11-unit apartment building, situated on a 0.69-acre lot in South Salt Lake, Utah (APN: 16-19-363-012), presents a compelling value-add opportunity. The property, comprised of three, two-story buildings totaling 14,025 net rentable square feet, was constructed in 1984 and is zoned CC. Currently boasting a 6.96% pro-forma cap rate and a $187,873 pro-forma NOI, this investment offers significant potential for increased profitability. Located at 2722 S Edison St, 84115, the property benefits from its convenient proximity to I-15 and Murray Central Station, providing residents easy access to downtown Salt Lake City (a mere 12-minute drive) and numerous outdoor recreational opportunities. The asking price is $2,700,000, translating to $245,454.55 per unit. This property is an excellent investment in a thriving market characterized by strong population growth, high rates of college graduates, and robust job creation, making it an attractive acquisition for discerning investors. The property's strong location and value-add potential make it a rare opportunity in the Salt Lake City multifamily market.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- South Salt Lake
- County
- Salt Lake
- State
- Utah
- Longitude
- -111.887
- Latitude
- 40.7118
