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Property profile & analytics
OFF-MARKET
Estimated value
$2,135,000
Apartment buildings
3965 300th E Salt Lake City, UT 84107-1601
Entity Owned
3-yr Hold
Property ID
US86-1311246
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2018
Total area
16,711 SF
Lot
1.25 ac (54,450 SF)
Zoning code
RM
APN
16-31-378-018
UPID
US86-1311246
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.19M
Blend (final)
Blend
$2.14M
Owner & transaction history
Lcarave LLC · 3 yrs held
Lcarave LLC
since 2022
7 recorded transactions
Zoning & alternative use
RM · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.4M
+95.0%
Commercial (general)
$1.6M
+32.6%
Restaurant
$1.6M
+28.7%
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
MEDICAL BUILDING
$2,415,000
Change: +95% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,645,000
Change: +33% · Conversion: Moderate
RESTAURANT
$1,595,000
Change: +29% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,570,000
Change: +26% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,335,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$2.14M
Range $1.92M – $2.35M · ±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
$128 / 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
$77,910
Tax year 2023
Assessed value
$11,702,200
Assessed 2023
Previous assessed
$11,702,200
+0.0% YoY
Effective rate
0.67%
On assessed value
Assessed land
$1,278,000
Assessed improvement
$10,424,200
Land market value
$1,278,000
Improvement market value
$10,424,200
Total market value
$11,702,200
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
2018
Heating
NONE
Cooling
YES
Buildings
4
Stories
1
Units
12
Total area
16,711 SF
Lot
1.25 ac (54,450 SF)
Zoning code
RM
APN
16-31-378-018
UPID
US86-1311246
Jurisdiction
SALT LAKE
Zoning & alternative use
RM · Salt Lake City, UT
Zoning RM · permitted uses
RM · 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
MEDICAL BUILDING
Est. value
$2.4M
COMMERCIAL (GENERAL)
Est. value
$1.6M
RESTAURANT
Est. value
$1.6M
WAREHOUSE, STORAGE
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.3M
MEDICAL BUILDING
COMMERCIAL (GENERAL)
RESTAURANT
WAREHOUSE, STORAGE
AUTO REPAIR, GARAGE
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
2018
Heating
NONE
Cooling
Yes
Stories
1
Buildings
4
Units
12
Lot
1.25 ac
Current owner
From public records · entity-resolved
Lcarave LLC
Entity
Mailing address
1 CENTERPOINTE DR, LA PALMA, CA 90623-1052
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
19 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 29, 2022
—
Lcarave LLC
Eastwind Construction LLC
Correction Deed
related
—
Dec 15, 2021
—
East Property Investments LLC
Rockin W Farms LLC
Special Warranty Deed
$7,500,000 · Fidelity Bridge Loans LLC
Apr 9, 2021
—
Cooper Real Estate Holdings LLC
Eastwirid Construction LLC
Correction Deed
related
—
Feb 24, 2021
—
Cooper Real Estate Holdings LLC
Eastwind Construction LLC
Special Warranty Deed
—
Dec 11, 2020
—
Eastwind Construction LLC
David W Steffensen
Warranty Deed
$800,000 · Brmk Lndg LLC
Oct 2, 2020
—
David W Steffensen
Wimmer J Bion
Grant Deed
related
—
Jun 11, 2018
—
Millcreek Cove Apartments LLC
—
Loan Modification
related
$5,065,000 · Brelf II LLC
May 18, 2018
—
Millcreek Cove Apartments LLC
—
Trustees Deed
related
$91,000 · Ready Made Concrete INC
Dec 9, 2016
—
Millcreek Cove Apartments LLC
Millcreek Cove Apartments LLC
Quit Claim Deed
related
—
Jul 6, 2016
—
Millcreek Cove Apartments LLC
Bdb & Associates LLC
Warranty Deed
related
—
Oct 21, 2015
—
Bdb & Associates LLC
—
Trustees Deed
related
$285,000 · Blaine Glasmann
Oct 13, 2015
—
Bdb & Associates LLC
Evans Afton & Eula Trust
Warranty Deed
related
—
—
—
Evans,afton & Eula Family Trust
—
Deed Of Trust
related
$105,000 · America First Cu
—
—
Randall R Krantz
—
Deed Of Trust
related
$100,000 · David W Steffensen
—
—
Millcreek Cove Apartments LLC
—
Deed Of Trust
related
$132,057 · Phaze Concrete INC
—
—
Millcreek Cove Apartments LLC
—
Deed Of Trust
related
$800,000 · Brelf II LLC
—
—
Millcreek Cove Apartments LLC
—
Deed Of Trust
related
$487,539 · Robert G Steffensen
—
—
Millcreek Cove Apartments LLC
—
Loan Modification
related
$4,699,500 · Brelf II LLC
—
—
Evans,afton & Eula Family Trust
—
Deed Of Trust
related
$123,000 · America First FCU
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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