202 S 800 E Salt Lake City, UT 84102
Listing Courtesy of: UTAH REAL ESTATE / Alliance Residential Real Estate LLC
$1,345,000
6
BED
3
BATH
4,148
SQFT

  202 S 800 E Salt Lake City, UT 84102

Active (6 Days)

Description

Do Not disturb tenants. Situated between downtown Salt Lake City and the University of Utah; this 1914 historic and charming legal tri-plex is the perfect location for consistent rental income and low vacancy rates. Walkable to all the best dining and shopping Salt Lake has to offer, and near a trax stop; making the location ideal for tenants who prefer a walkable neighborhood. The current owner has always been able to attract reliable tenants and has consistently increased rents on all units year over year without a vacancy. This year the building underwent major renovations totaling $170,000 in work with all receipts and ledger available upon request. These renovations included: a new roof, skylights, soffit and facia. All new double paned and aluminum wrapped windows throughout the whole building. The old steam boiler system and piping that previously heated the building was removed and replaced with independent HVAC systems for two lower units and a mini split for the top floor. Old water heaters were removed and replaced with a large instantaneous water heater. All electrical panels and all plumbing were inspected and updated/repaired where accessible and as required. Front entrance stairs and landing were removed and renovated with new floor, handrails, and lighting, as well as two new entry doors. First floor unit was completely renovated and repainted, with new lighting, lifetime replacement warranty blinds, kitchen, a new vent hood and all new kitchen appliances as well as in unit laundry added; with bathroom renovation in 2021. The main floor unit also has the original wood burning fireplace that was cleaned, and inspected. Second floor unit was renovated two years ago including bathroom, kitchen, paint, with in unit laundry added. The top floor unit was completely renovated in 2019, with a refresh this year including new paint, lighting and furnishings. The unfinished basement is currently rented out as storage space, with a washer and dryer for top floor tenant use, and a spare refrigerator. Currently total rents for the building are $5600 per month. First floor: $2,000, Second: $2,000, Attic: $1,300, and $300 for basement which is being used as storage. The two main floor units have leases through summer of 2023. The top unit is occupied month to month and will be sold as a furnished unit with exception of a few personal items. The current owner has submitted architectural drawings to the city, and has received comments on next steps to combine the two upper units and convert the basement into a third unit, this will require final city approval and additional work. Completing this process would increase cash flow on the property. This tri-plex has been impeccably renovated and maintained over the years, take the opportunity to make this income producing property yours! Buyer and buyer's agent to verify all information contained in listing.

MLS #:
1842997
Taxes
$4,022
Lot Size
2,178 SQFT
Type
Multifamily
Year Built
1914
Views
True
School District
Salt Lake
County
Salt Lake County
Community
Plat B
Bathroom Details
Interior Features
  • Laundry: Electric Dryer Hookup
  • Dishwasher: Built-In
  • Range/Oven: Free Stdng.
  • Range: Countertop
Subdivision
  • Plat B
Lot Information
  • Vegetation: Landscaping: Full
  • View: Mountain
  • Sidewalks
  • Road: Paved
  • Corner Lot
Property Features
  • View: Mountain
  • Sidewalks
  • Road: Paved
  • Corner Lot
Heating and Cooling
  • Gas: Central
  • Forced Air
  • Electric
Flooring
  • Tile
  • Laminate
Exterior Features
  • Roof: Asphalt
Utility Information
  • Utilities: Water Connected, Sewer: Public, Sewer Connected, Electricity Connected, Natural Gas Connected
  • Sewer: Sewer: Public, Sewer: Connected
School Information
  • Elementary School: Bennion (M Lynn)
  • Middle School: Bryant
  • High School: East
Stories
  • 0
Living Area
  • 4,148 sqft
Location
   
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Estimated Monthly Mortgage Payment

*Based on Fixed Interest Rate withe a 30 year term, principal and interest only

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Disclaimer: Square footage is based on information available to agent, including County records. Information has not been verified by agent and should be verified by buyer.