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Multifamily

The Monterey Apartments

1155 E 200 S, Salt Lake City, UT 84102

Listing Price: $5,300,000

Cap Rate
4.28%
Number of Units
23
GRM
15.36
Occupancy
96.0%
Price/Unit
$230,435
Price/Gross SF
$335.42
Gross SF
15,801

Investment Overview

Marcus & Millichap is pleased to present The Monterey Apartments, a rare opportunity to acquire a well-maintained multifamily asset located near the University of Utah in one of Salt Lake City’s most established rental corridors. The property offers investors a value-add investment with immediate upside through targeted interior renovations.

Positioned in a high-demand pocket of Salt Lake City, Monterey benefits from durable tenant demand driven by its proximity to major employment, higher education, and healthcare anchors. With the potential to capture ~$250 rent premiums through interior upgrades, Monterrey presents a compelling value-add opportunity in a market known for its economic resilience, consistent renter demand, and long-term growth trajectory.

Investment Highlights

  • Prime University Proximity: Located near the University of Utah, a consistent driver of rental demand.
  • Value-Add Potential: ~$250 rent upside through targeted interior renovations.
  • Clean Asset: Well-maintained with no deferred maintenance

Exclusively Listed By

  • Jacob J. Miles

    Senior Director Investments

    (801) 736-2654

    Email Jacob

    License(s): UT: 11449836-SA00, ID: SP53647

    Salt Lake City

  • Brock Zylstra

    Senior Managing Director Investments

    (801) 736-2642

    Email Brock

    License(s): UT: 8726586-SA00, ID: SP47190

    Salt Lake City

  • Daniel Shin

    Senior Managing Director Investments

    (801) 736-2628

    Email Daniel

    License(s): UT: 6298928-SA00, ID: SP38035

    Salt Lake City

Financing By

Multifamily

The Monterey Apartments

Listing Price: $5,300,000

Cap Rate
4.28%
Number of Units
23
GRM
15.36
Occupancy
96.0%
Price/Unit
$230,435
Price/Gross SF
$335.42
Gross SF
15,801

Investment Highlights

  • Prime University Proximity: Located near the University of Utah, a consistent driver of rental demand.
  • Value-Add Potential: ~$250 rent upside through targeted interior renovations.
  • Clean Asset: Well-maintained with no deferred maintenance

Investment Overview

Marcus & Millichap is pleased to present The Monterey Apartments, a rare opportunity to acquire a well-maintained multifamily asset located near the University of Utah in one of Salt Lake City’s most established rental corridors. The property offers investors a value-add investment with immediate upside through targeted interior renovations. Positioned in a high-demand pocket of Salt Lake City, Monterey benefits from durable tenant demand driven by its proximity to major employment, higher education, and healthcare anchors. With the potential to capture ~$250 rent premiums through interior upgrades, Monterrey presents a compelling value-add opportunity in a market known for its economic resilience, consistent renter demand, and long-term growth trajectory.

Exclusively Listed By

  • Jacob J. Miles

    Senior Director Investments

    (801) 736-2654

    Email Jacob

    License(s): UT: 11449836-SA00, ID: SP53647

    Salt Lake City

  • Brock Zylstra

    Senior Managing Director Investments

    (801) 736-2642

    Email Brock

    License(s): UT: 8726586-SA00, ID: SP47190

    Salt Lake City

  • Daniel Shin

    Senior Managing Director Investments

    (801) 736-2628

    Email Daniel

    License(s): UT: 6298928-SA00, ID: SP38035

    Salt Lake City

Financing By

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