Rare 15-unit acquisition opportunity in the highly sought-after Salt Lake City Avenues (687 E 2nd Ave & 119 N K St). This historic 1905 trophy asset offers massive, immediate upside. Three units are scheduled for vacancy in March 2026, allowing the new owner to capture top-of-market rents on Day 1… Read More and force instant equity. Current average rents are significantly below market (Studios averaging $560/mo; 1-Bedrooms averaging $882/mo), providing a clear and proven path to aggressive revenue growth. -------------- The heavy lifting has already been completed with over $62,000 in recent CapEx, including a $32,000 driveway replacement, a $22,000 electrical upgrade, and an $8,000 new porch. Situated on a 0.39-acre corner lot with a 74 Walk Score, the property is perfectly positioned just 1.3 miles from Downtown SLC and 1.7 miles from the University of Utah, ensuring historically near-zero vacancy and a premium tenant base. Ideal value-add opportunity to command top-tier returns in one of SLC's highest-barrier-to-entry neighborhoods. Square footage figures are provided as a courtesy based on County records; buyer is advised to obtain an independent measurement and verify all information to their own satisfaction. Read Less
Courtesy of Zach Droubay, Bybee & Co Realty, LLC 801-210-1461
Listing Snapshot
Days Online
0
Last Updated
Property Type
> 4 Units
Beds
10
Square Ft.
8,513
Lot Size
0.39 Acres
Year Built
1905
MLS Number
2141710
Additional Details
Building
Building Area Total: 8513, Living Area: 8513, Living Area Units: Square Feet, Year Built: 1905
Current Use: Residential, Direction Faces: South, Parcel Number: 09-32-353-023, Property Condition: Blt./Standing, Property Sub Type: > 4 Units, Property Type: Residential, View: Mountain(s), Valley, View YN: t
Lot
Lot Features: Road: Paved, Sidewalks, Terrain: Grad Slope, View: Mountain, View: Valley, Lot Size Acres: 0.39, Lot Size Area: 0.39, Lot Size Dimensions: 0.0x0.0x0.0, Lot Size Square Feet: 16988, Lot Size Units: Acres, Topography: Road: Paved, Sidewalks, Terrain: Grad Slope, View: Mountain, View: Valley
Parking
Parking Features: Covered, Parking Total: 8
Taxes
Tax Annual Amount: 15792
Utilities
Utilities: Natural Gas Connected, Electricity Connected, Sewer Connected, Water Connected
Find The Perfect Home
'VIP' Listing Search
Whenever a listing hits the market that matches your criteria you will be immediately notified.