245 800, Salt Lake City, UT 84102
8BD/—BA Residential in Salt Lake City, UT 84102. 5,175 sqft. Built 1960. Listed at $1,999,000. MLS #2150580.
8BD/—BA Residential in Salt Lake City, UT 84102. 5,175 sqft. Built 1960. Listed at $1,999,000. MLS #2150580.
Strategically located in the heart of the "East Central" neighborhood, this eight-plex represents a premier opportunity to acquire a turnkey, stabilized asset in one of Salt Lake City's most high-demand rental corridors. This property consist of Eight fully renovated One Bed / One Bath Units. Having undergone a comprehensive remodel in 2021, the property features modern interiors and updated systems. Fully updated interiors, plumbing, electrical, individual central air units, new roof, new water and sewer main line, and a new parking lot drainage system was installed to carry surface water around the building and out to the street, significantly reducing near-term capital expenditure risks for a new owner. Positioned perfectly between the University of Utah and Downtown Salt Lake City, the property caters to a high-quality tenant base of young professionals and students, ensuring consistently high occupancy.
Property Type
Residential
Property Style
> 4 Units
Architectural Style
Stories: 2
Subdivision
PLAT B
County
Salt Lake
Zoning
Multi-Family
Construction
Composition,Stucco
Lot Size
0.21 sq ft
Condition
Blt./Standing
MLS #
2150580
Property Type
Residential
Property Style
> 4 Units
Architectural Style
Stories: 2
Subdivision
PLAT B
County
Salt Lake
Zoning
Multi-Family
Construction
Composition,Stucco
Lot Size
0.21 sq ft
Condition
Blt./Standing
MLS #
2150580
List Price
$1,999,000
Annual Taxes
$10,108
Home Warranty
No
List Price
$1,999,000
Annual Taxes
$10,108
Home Warranty
No
Heating
Gas: Central
Roof
Composition
Flooring
Hardwood
Materials
Composition,Stucco
Water Source
Culinary
Sewer
Sewer: Available
Heating
Gas: Central
Roof
Composition
Flooring
Hardwood
Materials
Composition,Stucco
Water Source
Culinary
Sewer
Sewer: Available
Covered Spaces
8
Total Parking
8
Covered Spaces
8
Total Parking
8
Classification
Standard
Deal Score
10/100
vs Similar Homes
25% above
vs Market Median
28% above
Area Growth (YoY)
-0.8%
Deal Score Breakdown
10/100
Priced 25% above the median of similar listings
Priced 28% above the per-subtype city median
-0.8% year-over-year ZHVI growth in this area
STR net cashflow -$8,906/mo (-66.1% 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
$78,224/yr
$395/night · 39% occupancy · $131/bedroom · $0.43/sqft
Net Monthly Cash Flow
−$8,904 /mo (−$106,851/yr)
Monthly STR income
Monthly ownership cost
Coverage
48%
Net /mo
−$8,906
DSCR
0.46
Best Download
10 Gbps
Best Upload
10 Gbps
Fiber Available
Yes
Providers
15
Available Providers
$570,000
+251% vs median
57 days
615
$184,000 – $7,995,000
$10,108
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

Salt Lake City Real Estate Broker Focused on Pricing, Positioning, and Results

Devin Tanner - Utah Realtor
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