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Multifamily

Millcreek 6 Unit

4021 S 500 E, Millcreek, UT 84107

Listing Price: $2,350,000

Cap Rate
3.22%
Number of Units
6
Occupancy
97.0%
Price/Unit
$391,667
Price/Gross SF
$320.51
Gross SF
7,332

Investment Overview

Positioned in the heart of Salt Lake Valley in the bedroom community of Millcreek Utah, these units in Millcreek offers 6 Value-Add apartment units for investors. The Millcreek 6 apartments have a great location just off of 500 E giving tenants easy access to the major employment centers throughout the valley. The property is currently earning $1.15 PSF in rents and should be at or above $1.64 PSF. This property is a great opportunity to take advantage of the amazing rent growth on the Wasatch Front! In addition, there is a possibility that the city would allow you to build an additional 2 units if a variance is granted. There is ample parking and open space for the units. This would have to be confirmed with the City.

Investment Highlights

  • 6 Units in highly sought after Millcreek Area.
  • Under Market Rents.
  • Value Add Opportunity!

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

Financing By

Multifamily

Millcreek 6 Unit

Listing Price: $2,350,000

Cap Rate
3.22%
Number of Units
6
Occupancy
97.0%
Price/Unit
$391,667
Price/Gross SF
$320.51
Gross SF
7,332

Investment Highlights

  • 6 Units in highly sought after Millcreek Area.
  • Under Market Rents.
  • Value Add Opportunity!

Investment Overview

Positioned in the heart of Salt Lake Valley in the bedroom community of Millcreek Utah, these units in Millcreek offers 6 Value-Add apartment units for investors. The Millcreek 6 apartments have a great location just off of 500 E giving tenants easy access to the major employment centers throughout the valley. The property is currently earning $1.15 PSF in rents and should be at or above $1.64 PSF. This property is a great opportunity to take advantage of the amazing rent growth on the Wasatch Front! In addition, there is a possibility that the city would allow you to build an additional 2 units if a variance is granted. There is ample parking and open space for the units. This would have to be confirmed with the City.

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

Financing By

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