2880 200 South Salt Lake, UT 84115
- Commercial real estate
- 12,000 SF
- 0.84 lot acres
Current Use by Public Records
- Handyman Direct LLC / Handyman/Handywoman/Handyperson
Property Details for 2880 200
- Year built
- 1962
- Lot size
- 0.84 lot acres
- Property size
- 12,000 SF
- Property type
- Commercial real estate
- APN
- 16-30-107-030-0000
Description
This exceptional 20-unit apartment building, located at 2880 S 200 E in South Salt Lake, Utah, presents a compelling value-add investment opportunity. The property, built in 1962, comprises five single-story buildings totaling 12,000 square feet on a 0.84-acre lot (APN: 16-30-107-030-0000). Currently boasting a 5.16% cap rate and $175,388 NOI, the property offers significant upside potential. A pro-forma analysis projects a 6.39% cap rate and $217,352 NOI, indicating substantial room for improvement through strategic renovations and expense management. The asking price is $3,400,000, translating to $170,000 per unit and $283.33 per square foot. The property is zoned for multifamily use and benefits from its prime location in a vibrant community with strong rental demand. This fee-simple ownership offers a rare chance to acquire a well-maintained asset with clear potential for enhanced profitability. The property's current condition presents an excellent opportunity to increase rental income through interior upgrades and operational efficiencies. This is a strong value-add play in a desirable Salt Lake City location.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- South Salt Lake
- County
- Salt Lake
- State
- Utah
- Longitude
- -111.8858213
- Latitude
- 40.7083558
