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The Harvey Condominium's 501 E 2700 S 12 Unit Apartment Building $8,398,583 CAD ($699,882 CAD/Unit) 6.41% Cap Rate Salt Lake City, UT 84106
Investment Highlights
- Luxury finishes and high-quality construction.
- Thriving Sugar House Area.
Executive Summary
Luxury finishes and high-qualityThe Harvey presents a rare opportunity to acquire 12 units in a newly built, Class A 1-unit multi-family asset in the thriving Sugar House submarket of Salt Lake City. Luxury finishes and high-quality construction. Unit Mix: 5 Brownstone Units w/ separate walk-out basement 4 Penthouse condos (ADA adaptive) 3 Garden-style townhomes 12 covered carport spaces, dedicated bike parking, elevator, interior mail delivery, All-electric building, gypcrete sound insulation, zoned mini-split HVAC, fire sprinklers, Panasonic WhisperGreen ventilation, Google Fiber, skylights for natural light, Modern systems and energy-efficient design reduce near-term maintenance and operating costs. Situated in Sugar House, one of Salt Lake City's strongest rental and owner-occupant markets with robust demand and low vacancy. All condos/townhomes are separately parceled. There is currently a commercial condo available for purchase in addition to the 12 residential units, the commercial space is not included in the multi-unit sale and is platted as a separate parcel.
Data Room Click Here to Access
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$604,801
|
$50.40
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$604,801
|
$50.40
|
| Net Operating Income |
-
|
-
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $604,801 |
| Annual Per SF | $50.40 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $604,801 |
| Annual Per SF | $50.40 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $8,398,583 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $699,882 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.41 AC |
| Cap Rate | 6.41% | Building Size | 12,000 SF |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2026 |
| Property Subtype | Apartment | Parking Ratio | 0.27/1,000 SF |
| Zoning | CN - CN Zoning | ||
| Price | $8,398,583 CAD |
| Price Per Unit | $699,882 CAD |
| Sale Type | Investment |
| Cap Rate | 6.41% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.41 AC |
| Building Size | 12,000 SF |
| No. Stories | 3 |
| Year Built | 2026 |
| Parking Ratio | 0.27/1,000 SF |
| Zoning | CN - CN Zoning |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Washer/Dryer Hookup
- Refrigerator
- Oven
- Sprinkler System
- Stainless Steel Appliances
- Range
- Tub/Shower
- Wi-Fi
- Double Pane Windows
- Freezer
- Island Kitchen
- Patio
- Vinyl Flooring
- Quartz Countertops
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- On-Site Retail
- Package Service
- Wi-Fi
- Bicycle Storage
- Elevator
- Online Services
- Google Fiber
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2.5 | 3 | $4,129 CAD | 1,148 - 1,196 |
| 3+3.5 | 5 | $4,983 CAD | 1,677 - 1,713 |
| 2+1 | 2 | $3,559 CAD | 888 - 891 |
| 1+1 | 2 | $2,990 CAD | 662 - 702 |
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Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 CAD (2025) | |
| Land Assessment | $985,696 CAD (2025) | Total Assessment | $985,696 CAD (2025) |
Property Taxes
Parcel Numbers
Land Assessment
$985,696 CAD (2025)
Improvements Assessment
$0 CAD (2025)
Total Assessment
$985,696 CAD (2025)
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The Harvey Condominium's | 501 E 2700 S
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