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REAL ESTATE

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Liberty Four-Plex - Facing East

REAL ESTATE

Liberty Wells Four-Plex

1499-1503 S 400E, Salt Lake City 84115

Overview

This investment offering provides the opportunity to acquire the LIBERTY WELLS 4-PLEX, four two-bedroom apartments situated in the Liberty Wells neighborhood of Salt Lake City.  The site’s premium location makes this an attractive investment in one of the fastest growing apartment markets in the country.

Liberty Four-Plex - Facing South-East

Investment Summary

UNIT MIX:  Four 2 BR, 1 BA (950 sq. ft.)
SITE SIZE:  0.22 acres
PARCEL NUMBER:  16-18-210-032
AGE:  1959 / 2016
ZONING:  R1-5000
PARKING:  4 covered/2 uncovered
PRICING:  $1,240,000
PROFORMA CAP RATE:  4.75%
Liberty Four-Plex - Entrance & Living Room - Facing West
Liberty Four-Plex - Kitchen - Facing North-East
Liberty Four-Plex - Kitchen - Facing South-East

Highlights Include:

  • 100% occupied
  • Quaint single-family neighborhood
  • Just blocks from Liberty Park and close to Downtown
  • Near Salt Lake Community College, restaurants, bars and retail
  • Fully renovated in 2016
  • Rooftop Solar
  • Washer/Dryer hook ups in each unit
  • Carports with storage units
  • Current Salt Lake City Vacancy below 3%

Property Proforma

INCOME

EXPENSES

$76,800

RENTS

$(3,840)

VACANCY(5%)

$72,960

EFFECTIVE GROSS

$6,381

OTHER INCOME

$79,341

TOTAL INCOME

$1,000

REPAIRS

$2,400

LANDSCAPING

$500

ADMINISTRATIVE

$250

LICENSES

$3,600

UTILITIES

$4,630

PROPERTY TAXES

$1,200

RESERVES

$20,427

TOTAL OPERATING
EXPENSES

$58,914

TOTAL INCOME

$1,000

REPAIRS

$2,400

LANDSCAPING

$500

ADMINISTRATIVE

$250

LICENSES

$3,600

UTILITIES

$4,630

PROPERTY TAXES

$1,200

RESERVES

Contact Us

MARKETED BY: AXIS REALTY

Peter Corroon

801-597-7471 | pcorroon@sentry.financial