Listed by Marcus & Millichap - Salt Lake City
$2,400,000
4345 & 4347 S Highland Dr
Details
APN 22-04-252-005-0000, 22-04-252-006-0000
Property Type Multifamily
Sub Type Apartment Building
Net Rentable (SqFt) 6,400
Units 8
Cap Rate 4.53%
NOI $108,790
Occupancy 100%
Pro-Forma Cap Rate 4.56%
Pro-Forma NOI $109,449
Class B
Year Built 1960
Buildings 2
Stories 2
Acreage 0.360
Zoning RM
Parking Spaces 8 spaces
Investment Type Core+
Ownership Fee Simple
Multifamily | 8 Units | Well-Located
Marketing description
Marcus & Millichap is pleased to present this exclusive listing of a core+ multifamily asset in Salt Lake City's Holladay corridor, one of the region's most resilient rental submarkets.
The investment thesis is straightforward: in-place cash flow paired with clearly defined upside through natural tenant turnover and ancillary income strategies. In-place rents reflect a tenured resident base, with an average tenancy of approximately two and a half years, signaling stability while presenting a mark-to-market opportunity as units turn.
The asset benefits from strong demographic tailwinds driven by Utah's sustained population growth and a widening mortgage-to-rent affordability gap that continues to push would-be buyers into the rental market.
Listing Contacts
Listed by Marcus & Millichap - Salt Lake City
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$108,790.00
$9,065.83/mo
Valuation Metrics
0
DSCR
4.53%
Cap Rate
4.53%
ROI
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