Liberty Wells Four Plex
1499-1503 S 400 E, Salt Lake City, UT 84115
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.
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%
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 7%
Property Proforma
INCOME
EXPENSES
$76,800
RENTS
$(3,840)
VACANCY(5%)
$72,960
EFFECTIVE GROSS
$10,000
OTHER INCOME
$82,960
TOTAL INCOME
$3,347
ADMINISTRATIVE
$3,135
maintenance/REPAIRS
$4,020
utilities
$7,104
PROPERTY TAXES/Insurance
$1,200
RESERVES
$18,806
TOTAL OPERATING EXPENSES
$64,154
Net Operating Income
property image Gallery
Entrance
Facing North-West
Hallway to Bedroom
Facing East
Bedroom
Facing West
Carports
Facing East
Carports
Facing East
Marketed by:
Axis Realty
Contact
Peter Corroon