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Spencer Court Apartments 240 N Spencer Ct 22 Unit Apartment Building $5,117,159 CAD ($232,598 CAD/Unit) 6.13% Cap Rate Salt Lake City, UT 84103
INVESTMENT HIGHLIGHTS
- 22 Units
- 100% Occupied
- Walking Distance to City Creek Center
- Value Add Opportunity
EXECUTIVE SUMMARY
Price improvement! 6% in place CAP rate. Value add opportunity for multi-family property located in one of the best areas of Salt Lake City. Spencer Court Apartments. Located near memory grove park, City Creek Center, and the State Capital. The property was originally built in the early 20th century and consists of six charming multi-unit buildings to make up the 22 units. Each building is unique and offers a variety of layouts and options for tenants. Property is 100% occupied and has a strong rental history. Measurements are given as a courtesy only. Buyer is advised to obtain an independent measurement.
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $5,117,159 CAD | Apartment Style | Garden |
| Price Per Unit | $232,598 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.57 AC |
| Cap Rate | 6.13% | Building Size | 22,676 SF |
| No. Units | 22 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1940 |
| Property Subtype | Apartment | ||
| Zoning | SR-1A - The purpose of the SR-1 special development pattern residential district is to maintain the unique character of older predominantly single-family and | ||
| Price | $5,117,159 CAD |
| Price Per Unit | $232,598 CAD |
| Sale Type | Investment |
| Cap Rate | 6.13% |
| 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 - The purpose of the SR-1 special development pattern residential district is to maintain the unique character of older predominantly single-family and |
AMENITIES
UNIT AMENITIES
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
1 1
Walk Score®
Very Walkable (74)
Bike Score®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $2,448,823 CAD | |
| Land Assessment | $1,912,252 CAD | Total Assessment | $4,361,075 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,912,252 CAD
Improvements Assessment
$2,448,823 CAD
Total Assessment
$4,361,075 CAD
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Spencer Court Apartments | 240 N Spencer Ct
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