0.47 Acres, Prime Townhome Development Land-Salt Lake City
Land | 20,419 SqFt
Marketing description
Graystone Capital Advisors is pleased to present 240 N Rendon Court, a two-lot offering and development opportunity in a prime Salt Lake City location that is close to everything.
The offering comprises 0.47 acres of development-ready land across two adjacent, contiguous parcels, both zoned SR-3 (Attached Dwelling). The site is well-suited for a new townhome project with by-right development potential, eliminating lengthy rezone processes and reducing time to develop.
Located in a neighborhood with excellent transit connectivity and proximity to downtown employment centers, this offering provides investors the opportunity to capitalize on Salt Lake City's robust population growth and strong demand in the for-sale housing market.
The SR-3 zoning streamlines the approval process for townhome builds, facilitating project execution in one of the city's most dynamic markets.
*Please see additional listing for lot with existing assets to the East of 240 Rendon (241 N 600W), Zoned SR1-A and with 3 SF homes and 1 Duplex. Properties can be purchased together.
Investment highlights
Strong Market Fundamentals and Growth Potential
SR-3 Zoning allows streamlined approvals and accelearated timelines for by-right townhome development, reducing regulatory barriers and enabling investors to move quickly toward development.
Prime Location with Excellent Accessibility
Located at 240 Rendon Court and 640 West 200 North, the property is within a 5-10 minute walk of Arena Station (Green/Blue Lines, 0.3 miles) and North Temple Station (Green Line/FrontRunner, 0.2 miles). This makes it easy for residents to access downtown employment, the airport via Green Line, and essential services with multiple UTA bus routes nearby.
Favorable Terms
The portfolio consists of two parcels: SR-3 zoned lots (0.47 acres) that permit townhome development.
Development Upside:
With 0.47 acres (20,419 SF) across two SR-3 zoned lots, the property offers significant upside potential for townhome construction. The land is in high demand given the transit-accessible housing market in Salt Lake City. The site's accessibility to public transportation and utilities makes it an attractive option for future development.
Attractive Market Valuation:
The two SR-3 townhome development lots have been appraised at $1,120,000, with an asking price of $915,000 or $44.81/SF. The pricing positions the portfolio competitively in the current market, offering investors a solid opportunity in a high demand housing market.
*Townhome Sold Comps Available in Deal Room
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