Multifamily Property for Sale in Salt Lake City, UT

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Salt Lake City, UT 84106

Description

Marcus & Millichap is pleased to present Mansfield Ave, an 8-unit multifamily community located along Salt Lake City’s 3300 South corridor near Brickyard Plaza. The property features an all two-bedroom unit mix with functional layouts and presents a compelling value-add opportunity, with in-place rents estimated 25%–35% below market and clear upside through targeted interior upgrades and repositioning. Mansfield Ave benefits from excellent access to I-80, I-15, public transit, and major employment centers throughout the Salt Lake Valley, enhancing tenant appeal and supporting long-term occupancy. Its location, favorable unit configuration, and opportunity for continued NOI growth position the asset as an attractive investment for buyers seeking a well-located, high-potential property. Investment Highlights: • VALUE-ADD UPSIDE: In-place rents are 25%–35% below market, creating clear upside through targeted interior renovations and repositioning. • INFILL, TRANSIT-ORIENTED LOCATION: Located near Brickyard Plaza along the 3300 South corridor, offering convenient access to retail, transit, and major employment centers. • FAVORABLE TWO-BEDROOM UNIT MIX: All two-bedroom layouts appeal to a broad renter base, supporting stable occupancy and durable rental demand.

Market Context

This multifamily in Salt Lake City, UT is listed for sale. It is offered at an approximate 1.4% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 68 days. Compare it against other multifamily listings for sale in Salt Lake City, UT — <a href="/search/sale/multifamily/utah/salt-lake-city">view the full market</a>.

As of Q4 2023, the Salt Lake City multifamily market showed average asking rents near $1055.00/unit/mo, rents up 5.4% year over year, and cap rates around 6.0%. Source: Consensus Q4 2023 market report.

Its 1.4% asking cap rate is below the Salt Lake City multifamily market average of about 6.0%, reflecting premium pricing relative to comparable assets. Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

What is the typical cap rate for multifamily in Salt Lake City?
About 6.0% as of Q4 2023, per Consensus.

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