905 E 200 S, Salt Lake City, UT 84102

Property Description

Rarely does an offering combine this much location, character, and untapped income potential in one package. Situated in the heart of East Central, this 16-unit brick apartment community sits perfectly between downtown Salt Lake City's core and the University of Utah - just three blocks from TRAX, and walking distance to shopping, dining, and everything the neighborhood has to offer. Built in 1937, the property retains the timeless charm of Salt Lake's classic walk-up apartment stock, while benefiting from significant recent capital improvements: a new roof, refurbished exterior siding, and plumbing and electrical upgrades completed in 2024. Seven of the sixteen units have also been individually updated, offering a strong mix of renovated and classic units to support a flexible leasing and value-add strategy. The unit mix - 8 studios, 5 one-bedrooms, and 3 two-bedrooms - appeals to a broad renter pool, from students and young professionals to downtown commuters. With current rents sitting meaningfully below market across the studio and one-bedroom units, this property offers a clear, executable path to increased NOI through strategic lease-up and renewal pricing, without requiring major capital investment beyond what's already been completed. Whether you're targeting a value-add reposition or a stabilized hold with embedded upside, 905 East 200 South presents a compelling opportunity in one of Salt Lake City's most in-demand rental corridors.