Property
Beds
10
Full Baths
None
1/2 Baths
None
Year Built
1905
Sq.Footage
8,513
Rare 15-unit acquisition opportunity in the highly sought-after Salt Lake City Avenues (687 E 2nd Ave & 119 N K St). This historic 1905 trophy asset offers massive, immediate upside. Three units are scheduled for vacancy in March 2026, allowing the new owner to capture top-of-market rents on Day 1 and force instant equity. Current average rents are significantly below market (Studios averaging $560/mo; 1-Bedrooms averaging $882/mo), providing a clear and proven path to aggressive revenue growth. -------------- The heavy lifting has already been completed with over $62,000 in recent CapEx, including a $32,000 driveway replacement, a $22,000 electrical upgrade, and an $8,000 new porch. Situated on a 0.39-acre corner lot with a 74 Walk Score, the property is perfectly positioned just 1.3 miles from Downtown SLC and 1.7 miles from the University of Utah, ensuring historically near-zero vacancy and a premium tenant base. Ideal value-add opportunity to command top-tier returns in one of SLC's highest-barrier-to-entry neighborhoods. Square footage figures are provided as a courtesy based on County records; buyer is advised to obtain an independent measurement and verify all information to their own satisfaction.
Features & Amenities
Interior
-
Total Bedrooms
10
-
Bathrooms
N/A
-
Cooling YN
NO
-
Cooling
None
-
Fireplace YN
NO
-
Heating YN
NO
-
Heating
None
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Parking
Covered
-
Pool
No
-
View
Mountain(s), Valley
Area & Lot
-
Lot Size(acres)
0.39
-
Property Type
Residential Income
-
Property Sub Type
Multi Family
Price
-
Sales Price
$2,100,000
-
Tax Amount
$15,792
-
Zoning
SR-1A
-
Sq. Footage
8, 513
-
Price/SqFt
$246
HOA
-
Association
No
School District
-
Elementary School
Salt Lake
-
Middle School
Bryant
-
High School
West
Property Features
-
Senior Community YN
NO
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Location
County
Salt Lake
Elementary School
Salt Lake
Middle School
Bryant
High School
West
Listing Courtesy of Zach Droubay , Bybee & Co Realty, LLC
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Principal Broker
Micah Pearson
Call Micah today to schedule a private showing.
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