3403 200 South Salt Lake, UT 84115
- Commercial real estate
- 1.47 lot acres
Current Use by Public Records
- The Mesa Verde / Apartment Complex
Property Details for 3403 200
- Year built
- 1971
- Lot size
- 1.47 lot acres
- Property type
- Commercial real estate
- APN
- 16-30-379-033, 16-30-379-034, 16-30-379-014, & 16-30-379-015
Description
This exceptional 48-unit apartment building, known as Mesa Verde Apartments, presents a compelling investment opportunity in the thriving South Salt Lake City market. Located at 3403 S 200 E, 84115, this property boasts a total net rentable area of 26,400 square feet, spread across four, two-story buildings situated on a 1.47-acre lot. The property features 48 units, each recently renovated in 2019, offering a blend of comfort and modern amenities. Built in 1971, the complex benefits from its prime location, providing convenient access to I-15 and just 12 minutes from Downtown Salt Lake City. The property's strong financial performance is highlighted by a pro-forma NOI of $568,983 and a pro-forma cap rate of 5.52%, with an asking price of $10,300,000 ($214,583 per unit). The property's APN numbers are 16-30-379-033, 16-30-379-034, 16-30-379-014, and 16-30-379-015. Salt Lake County's robust population growth, high rate of college graduates, and strong job market contribute to a consistently high demand for rental housing, making this a particularly attractive investment. The property includes a picnic area and well-maintained landscaping. This property offers a unique combination of strong financial performance, desirable location, and recent renovations, making it an ideal addition to any investment portfolio.
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
- -111.88554133973
- Latitude
- 40.69744832872
