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Multifamily

Sunset Apartments

76 W Apricot Ave, Salt Lake City, UT 84103

Listing Price: $1,800,000

Cap Rate
2.89%
Number of Units
5
Occupancy
97.0%
Price/Unit
$360,000

Investment Overview

Located a block west of the Utah State capital building lies the Sunset Apartments. This property features 5 value add units for investors. With great proximity to Down Town Salt Lake City it give tenants easy access to the many employment opportunities there. The 1 Bedroom / 1 Bath units are currently earning an average monthly rent of $1,006. Based on market rent survey, we fell that these rents could be $1,250 per month. This difference in current rent vs market rent gives a buyer the great opportunity to come in and raise rents and take better advantage of the increasing rental market along the Wasatch Front.

Investment Highlights

  • Great Location!
  • Under Market Rents!
  • Great Value Add near Downtown SLC!

Exclusively Listed By

  • Kristopher Mortensen

    Senior Associate

    (801) 736-2634

    Email Kristopher

    License(s): UT: 9789720-SA00

    Salt Lake City

  • Jacob J. Miles

    Senior Associate

    Email Jacob

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

    Salt Lake City

  • Daniel Shin

    Senior Managing Director Investments

    (801) 736-2628

    Email Daniel

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

    Salt Lake City

  • Brock Zylstra

    Senior Vice President Investments

    (801) 736-2642

    Email Brock

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

    Salt Lake City

Multifamily

Sunset Apartments

Listing Price: $1,800,000

Cap Rate
2.89%
Number of Units
5
Occupancy
97.0%
Price/Unit
$360,000

Investment Highlights

  • Great Location!
  • Under Market Rents!
  • Great Value Add near Downtown SLC!

Investment Overview

Located a block west of the Utah State capital building lies the Sunset Apartments. This property features 5 value add units for investors. With great proximity to Down Town Salt Lake City it give tenants easy access to the many employment opportunities there. The 1 Bedroom / 1 Bath units are currently earning an average monthly rent of $1,006. Based on market rent survey, we fell that these rents could be $1,250 per month. This difference in current rent vs market rent gives a buyer the great opportunity to come in and raise rents and take better advantage of the increasing rental market along the Wasatch Front.

Exclusively Listed By

  • Kristopher Mortensen

    Senior Associate

    (801) 736-2634

    Email Kristopher

    License(s): UT: 9789720-SA00

    Salt Lake City

  • Jacob J. Miles

    Senior Associate

    Email Jacob

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

    Salt Lake City

  • Daniel Shin

    Senior Managing Director Investments

    (801) 736-2628

    Email Daniel

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

    Salt Lake City

  • Brock Zylstra

    Senior Vice President Investments

    (801) 736-2642

    Email Brock

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

    Salt Lake City

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