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226 N Spencer Ct 22 Unit Apartment Building $4,976,459 CAD ($226,203 CAD/Unit) 6.31% Cap Rate Salt Lake City, UT 84103
Executive Summary
Spencer Court Apartments is a unique 22-unit multifamily community comprised of six smaller multi-family buildings nestled in one of Salt Lake City's most sought-after neighborhoods. The property boasts a proven operational history with strong rental performance and healthy NOI, currently offered at an attractive 6.3% in-place cap rate with compelling price-per-unit metrics. There is significant opportunity to improve asset quality, push rents, and drive meaningful appreciation. Do not disturb tenants. Buyer to obtain independent measurements and verify all information independently.
Property Facts
| Price | $4,976,459 CAD | Apartment Style | Garden |
| Price Per Unit | $226,203 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.57 AC |
| Cap Rate | 6.31% | Building Size | 22,676 SF |
| No. Units | 22 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1940 |
| Property Subtype | Apartment | ||
| Zoning | SR-1A - SR-1 is a special development pattern residential district is to maintain the unique character of older predominantly single-family & multi-family. | ||
| Price | $4,976,459 CAD |
| Price Per Unit | $226,203 CAD |
| Sale Type | Investment |
| Cap Rate | 6.31% |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.57 AC |
| Building Size | 22,676 SF |
| No. Stories | 2 |
| Year Built | 1940 |
| Zoning | SR-1A - SR-1 is a special development pattern residential district is to maintain the unique character of older predominantly single-family & multi-family. |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | - |
| 2+1 | 5 | - | - |
| 3+1 | 1 | - | - |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $2,411,233 CAD | |
| Land Assessment | $1,882,899 CAD | Total Assessment | $4,294,132 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$1,882,899 CAD
Improvements Assessment
$2,411,233 CAD
Total Assessment
$4,294,132 CAD
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226 N Spencer Ct
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