Marcus & Millichap is pleased to present this exclusive listing of a core+ multifamily asset in Salt Lake City's Millcreek corridor, one of the region's most resilient rental submarkets. The property is being offered individually as part of a two-property, 16-unit portfolio, with the seller preferring a package sale but… Read More willing to consider individual offers. 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. Do not disturb tenants. Square footage figures are provided as a courtesy estimate only. Buyer is advised to obtain an independent measurement. Contact listing agent for financials or to schedule a tour. Read Less
Courtesy of Evan Clark, Marcus & Millichap Real Estate Investment Services of Atlanta, INC 303-328-2050
Listing Snapshot
Days Online
2
Last Updated
Property Type
> 4 Units
Beds
14
Square Ft.
7,072
Lot Size
0.36 Acres
Year Built
1960
MLS Number
2151411
Additional Details
Building
Architectural Style: Stories: 2, Building Area Total: 7072, Living Area: 7072, Living Area Units: Square Feet, Year Built: 1960