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Property profile & analytics
OFF-MARKET
Estimated value
$3,055,000
Apartment buildings
233 Redwood Rd Salt Lake City, UT 84116-3160
Entity Owned
4-yr Hold
Property ID
US86-1047991
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2017
Total area
134,935 SF
Lot
2.95 ac (128,502 SF)
Zoning code
TSAMUE
APN
08-34-332-001
UPID
US86-1047991
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
District North Apartments Apartment Building Apartment Complex
-
Dylan's Janitorial Services LLC. (Bike/Boat/Book/etc) Store
-
Romana Gold Line CDL Training Center Vocational School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.06M
Owner & transaction history
District Ivy Owner LLC · 4 yrs held
District Ivy Owner LLC
since 2022
6 recorded transactions
Zoning & alternative use
TSAMUE · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Salt Lake City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salt Lake City submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$4,300,000
Current use
Blend value · Realmo final
$3.06M
Range $2.75M – $3.36M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$23 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$148,660
Tax year 2023
Assessed value
$27,340,800
Assessed 2023
Previous assessed
$27,340,800
+0.0% YoY
Effective rate
0.54%
On assessed value
Assessed land
$6,980,200
Assessed improvement
$20,360,600
Land market value
$6,980,200
Improvement market value
$20,360,600
Total market value
$27,340,800
Applied tax rate
13.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2017
Heating
NONE
Cooling
YES
Stories
4
Units
23
Total area
134,935 SF
Lot
2.95 ac (128,502 SF)
Zoning code
TSAMUE
APN
08-34-332-001
UPID
US86-1047991
Jurisdiction
SALT LAKE
Zoning & alternative use
TSAMUE · Salt Lake City, UT
Zoning TSAMUE · permitted uses
TSAMUE · Salt Lake City, UT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salt Lake City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$4.3M
APARTMENT HOUSE (5+ UNITS) Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2017
Heating
NONE
Cooling
Yes
Stories
4
Units
23
Lot
2.95 ac
Current owner
From public records · entity-resolved
District Ivy Owner LLC
Entity
Mailing address
26895 ALISO CRK RD, ALISO VIEJO, CA 92656-5301
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 1, 2022
—
District Ivy Owner LLC
West Station North Apartments LP
Special Warranty Deed
$25,405,000 · Jll Real Estate Capital LLC
Sep 9, 2019
—
Rr Dev Partners LLC
West Station N Apts LP
Grant Deed
related
—
Nov 16, 2018
—
West Station N Apts LP
—
Grant Deed
related
$17,550,000 · Berkadia Com'l Mtg
Oct 7, 2016
—
West Stn North Apartments LP
—
Deed Of Trust
related
$12,500,000 · Zions First Nat'l Bk
Sep 27, 2016
—
West Stn North Apartments LP
Neil Fami
Grant Deed
related
—
—
—
West Station N Apts LP
—
Loan Modification
related
$17,550,000 · Federal Hm Ln M 2018-kt03 (ce)
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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