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32392724

157 South 800 East, Salt Lake City, UT 84102

TC
UT UT 5460516-SA00
Masters Utah Real Estate
Listed by Masters Utah Real Estate
$975,000
29 days on market
Updated 28 days ago

157 South 800 East

Details
APN 16-05-161-005
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,989
Units 10
Cap Rate 4.50%
NOI $69,920
Occupancy 98%
Tenancy Multi
Pro-Forma NOI $43,226
Price per SqFt $162
Broker Co-Op True
Class C
Year Built 1950
Buildings 1
Acreage 0.220
Zoning multi family
Ground Lease No
Ceiling Height 8

Currently a Boarding House, could Be a Hostel or a Group home facility. Properly licensed

Marketing description

see Investment highlights

Investment highlights

RENTS ARE LOW! IN MANY CASES THEY HAVE NOT BEEN RAISED IN 5 YEARS PLUS The property was originally designed and built as an elderly care facility. For th past 30 plus years it has been licensed and operated as a boarding home. There is a two bedroom and one bath apartment on the main floor and a one bedroom one bath apartment on the main floor. The 2nd floor has 8 one room units that are individually leased out. tenants are typically long term ranging from 1 year to 20 plus years. The second floor single unit rooms share 2 common full baths and share a common kitchen.. The architectural shingle roof is approximately 15 years old. The boiler was recently replaced with a $30,000 high efficient system. the building has a built in water suppression (fire) system from original construction. OFF STREET PARKING IS AVALABLE1

Listing Contacts

TC
UT UT 5460516-SA00
Masters Utah Real Estate
Listed by Masters Utah Real Estate

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$69,920.00
$5,826.67/mo

Valuation Metrics

0
DSCR
7.17%
Cap Rate
7.17%
ROI

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Additional Information

Name
Susie Martindale
License
5457850-PBOO
Brokerage
Susie Martindale
Title
Broker of Record
Brokerage Address
7070 South 2300 East
Name
Terry Cononelos
License
UT 5460516-SA00
Brokerage
Masters Utah Real Estate
Brokerage Address
7070 South 2300 East
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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