119 K, Salt Lake City, UT 84103
10BD/—BA Residential in Salt Lake City, UT 84103. 8,513 sqft. Built 1905. Listed at $2,100,000. MLS #2141710.
10BD/—BA Residential in Salt Lake City, UT 84103. 8,513 sqft. Built 1905. Listed at $2,100,000. MLS #2141710.
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 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.
Property Type
Residential
Property Style
> 4 Units
County
Salt Lake
Zoning
Multi-Family
Lot Size
0.39 sq ft
Condition
Blt./Standing
MLS #
2141710
Property Type
Residential
Property Style
> 4 Units
County
Salt Lake
Zoning
Multi-Family
Lot Size
0.39 sq ft
Condition
Blt./Standing
MLS #
2141710
List Price
$2,100,000
Annual Taxes
$15,792
Home Warranty
No
List Price
$2,100,000
Annual Taxes
$15,792
Home Warranty
No
Roof
Asphalt
Sewer
Sewer: Connected
View
Mountain(s),Valley
Roof
Asphalt
Sewer
Sewer: Connected
View
Mountain(s),Valley
Covered Spaces
8
Total Parking
8
Covered Spaces
8
Total Parking
8
Classification
Standard
Deal Score
30/100
vs Similar Homes
18% above
vs Market Median
0% above
Area Growth (YoY)
-0.8%
Deal Score Breakdown
30/100
Priced 0% above the per-subtype city median
Priced 18% above the median of similar listings
-0.8% year-over-year ZHVI growth in this area
STR net cashflow -$8,953/mo (-60.7% return). Uses the better of LT or STR against total monthly ownership cost (P&I, tax, insurance, HOA, maintenance).
No price reduction from original list
Ensemble scoring: the best single signal sets the floor, secondary qualifying signals (≥60) each add 5 points up to +20. A home that strongly wins on one dimension is already a great deal — it doesn't need to tick every box.
Est. Annual Revenue
$99,301/yr
$395/night · 39% occupancy · $131/bedroom · $0.43/sqft
Net Monthly Cash Flow
−$8,955 /mo (−$107,456/yr)
Monthly STR income
Monthly ownership cost
Coverage
56%
Net /mo
−$8,953
DSCR
0.54
Best Download
8 Gbps
Best Upload
8 Gbps
Fiber Available
Yes
Providers
13
Available Providers
$575,000
+265% vs median
55 days
621
$184,000 – $7,995,000
$15,792
High Crime
28.7
per 1,000
83.9
per 1,000
34.5
per 1,000
147.1
per 1,000
National rates use FBI UCR Index Crimes. Local rates use NIBRS which may include additional offense categories.
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Daryn Edmunds - High Road Properties

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Devin Tanner - Utah Realtor
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