200 South Apartments
19-Unit Investment Opportunity - East Central Neighborhood
Marketing description
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire the 200 South Apartments (the “Property”), a 19-unit apartment community located in the vibrant East Central neighborhood of Salt Lake City, Utah.
Originally constructed in 1964 on a 0.34-acre site, the Property is a well-maintained brick walk-up building that offers classic appeal and strong value-add potential. The community features thoughtfully designed layouts with durable finishes and recent improvements, while maintaining opportunities for modernization and operational enhancements. Residents benefit from practical amenities including onsite laundry, storage units, and ample parking complemented by convenient access to the city’s best amenities.
This Property represents a rare chance to acquire a well-located property with multiple paths for physical and income growth in one of the mountain west’s most desirable cities.
Investment highlights
Compelling Value-Add Upside with Immediate Rent Growth
The property has average in-place rents of $1,013/month versus market rents of $1,151/month. With six vacant units and multiple month-to-month leases, an investor can drive NOI through lease-up and rent mark-to-market, increasing NOI from approximately $121,000 in-place to over $200,000 at market.
Well-Located Asset in a Transit-Oriented, High-Demand Submarket
Located along 200 South, the Property benefits from 10 bus routes, proximity to the 900 East TRAX station, and walkability to daily needs including Sprouts Farmers Market. The East Central neighborhood continues to see strong renter demand driven by proximity to Downtown and the University of Utah.
Multiple Paths to Value Through Physical and Income Enhancements
The asset offers clear opportunities for value creation through light interior upgrades and revenue enhancements, including utility bill-backs, parking monetization, and bulk internet billing.
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