$574,000
$579,000
0.9%For more information regarding the value of a property, please contact us for a free consultation.
8 Beds
4 Baths
3,360 SqFt
SOLD DATE : 12/04/2020
Key Details
Sold Price $574,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Square Footage 3,360 sqft
Price per Sqft $170
Subdivision Oakley
MLS Listing ID 1672183
Sold Date 12/04/20
Style Up And Down
Bedrooms 8
Construction Status Blt./Standing
HOA Y/N No
Year Built 1971
Annual Tax Amount $3,445
Lot Size 0.260 Acres
Acres 0.26
Lot Dimensions 0.0x0.0x0.0
Property Description
There is constant growing demand for safe and affordable housing in Salt Lake City and this cash-flowing 4-plex fills that need. This property has been through a series of renovations over the last few years including custom tile in the kitchens and baths and a new TPO rubber membrane flat roof in the last few years. The property is a perfect set up for this use and includes a BBQ patio area, storage sheds, off-street parking, fully fenced lot and automatic sprinklers. The 2 bed 1 bath units are spacious and include laundry hookups. The two top units are fully leased with great tenants and in really good shape. The two bottom units are currently vacant and ready for renovation and occupancy. Pro-forma figures to fully renovate the bottom two units are $6,500 each based on a recent estimate from a trusted general contractor. The pro-forma rents for these two units post remodel will be $1,200-$1,300 per month. This is a rare residential rental investment opportunity or occupy one unit and pay the mortgage with the other three rental incomes. Professional property management services are currently in place.
Location
State UT
County Salt Lake
Area Salt Lake City; Rose Park
Zoning Multi-Family
Interior
Interior Features Range/Oven: Free Stdng.
Heating Forced Air, Gas: Central
Flooring Carpet, Tile
Equipment Window Coverings
Fireplace false
Window Features Blinds
Exterior
Exterior Feature Out Buildings, Lighting, Porch: Open
Utilities Available Natural Gas Connected, Electricity Connected, Sewer Connected, Sewer: Public, Water Connected
View Y/N No
Roof Type Asphalt,Tar/Gravel
Present Use Residential
Topography Curb & Gutter, Fenced: Full, Road: Paved, Secluded Yard, Sidewalks, Sprinkler: Auto-Full
Porch Porch: Open
Total Parking Spaces 5
Private Pool false
Building
Lot Description Curb & Gutter, Fenced: Full, Road: Paved, Secluded, Sidewalks, Sprinkler: Auto-Full
Faces West
Sewer Sewer: Connected, Sewer: Public
Water Culinary
Structure Type Brick
New Construction No
Construction Status Blt./Standing
Schools
Elementary Schools None/Other
Middle Schools None/Other
High Schools West
School District Salt Lake
Others
Senior Community No
Tax ID 08-35-154-028
Acceptable Financing Cash, Conventional
Horse Property No
Listing Terms Cash, Conventional
Financing Conventional
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Bought with Colemere Realty Associates LLC