$ 1,049,900
-
$1,049,900
Price -
7
Bed -
6
Bath -
5,067
SqFt -
0.24
Acre
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About the Listing 99002140 - 1318317
SELLER FINANCING AVAILABLE: 20% down, 6% rate, 30-year amortization, 3-year balloon (~$5,036/month P&I). Rare six-unit multifamily on a corner lot in the heart of Salt Lake City, sold as three contiguous parcels totaling approximately 0.24 acres. Built in 1926 and thoughtfully converted to six units: a studio, four one-bedrooms, and a large basement two-bedroom, approximately 5,067 square feet in all. The character carries through: hardwood floors in five units, fireplaces in Units 1 and 2, boiler heat with radiators in every unit, and updated baths in Units 1, 2 and 3. The two-bedroom basement apartment offers two walk-in closets and newer LVP flooring. Free shared laundry and a fenced yard are on site. Tenants pay their own electricity in Units 1 through 5; owner pays gas, water, sewer, garbage, and electricity for Unit 6 and common areas. The big-ticket items are already handled: roof and boiler approximately 6 years old, exterior paint approximately 2 years old, sewer line relined approximately 3 years ago, and water line replaced and upgraded. Ten off-street parking spaces, including 3 tandem bays, is a genuine rarity in this neighborhood. Three of the one-bedrooms are month-to-month and renting below market, with more than $11,000 a year in rent upside, giving a new owner the chance to immediately unlock equity within a highly desired downtown neighborhood. Two units are Section 8 with contracts a new owner can take over. The location sells itself: walk to Trolley Square, Whole Foods, and Trader Joe's, two blocks to TRAX, and minutes from the University of Utah. The zoning adds a second layer of opportunity: the building sits on RMF-30 multi-family zoning, while the two parcels fronting E Markea Ave are zoned SR-3, which allows for new residential construction. Today those back parcels carry the off-street parking and yard that serve the building. For a buyer willing to look ahead, they offer real long-term potential, and we encourage buyers to explore the possibilities with Salt Lake City. Sold as-is; please note foundation settling on the north side of the building; contact the listing agent for details and documentation. Sale includes three parcels: 16-05-163-025 (243 S 800 E, primary parcel), 16-05-163-026 (817 E Markea Ave) and 16-05-163-027 (821 E Markea Ave). Combined, the site offers approximately 147' of continuous frontage along E Markea Ave and 70.5' along 800 East. Unit 2, the studio, is the only unit available to show; all other units to be shown with an accepted offer. Property Summary, Unit Summaries, floor plans, rent roll, expense detail and repair bid available from the listing agent. Buyer & buyer's agent to verify zoning, development potential, square footage and all other information. DO NOT DISTURB TENANTS.
Listing Highlights for 243 S 800 E
Interior Details
- Bedrooms: 7
- Bathrooms: 6 Full
- Appliances: Fireplace Equipment
- Air Cond:
- Heating: Hot Water,Hydronic
- Fireplaces: Fireplace Equipment
- Floor: Carpet,Hardwood,Linoleum,Tile
- Basement:
- Other: Alarm: Fire,Basement Apartment,Mother-in-Law Apt.,Range/Oven: Free Stdng.,Dishwasher: Built-In
- Water: Culinary
Exterior Details
- Lot Description: Additional Land Available,Corner Lot,Curb & Gutter,Fenced: Full,Road: Paved,Sidewalks,Sprinkler: Auto-Full
- Garage Capacity: N/A
- Parking Spaces: 10
- Lot Dimensions: 70.5x147.0x0.0
- Zoning: RMF-30
- Roof: Asphalt
- Others: Awning(s),Basement Entrance,Entry (Foyer),Porch: Open,Blt./Standing
- Sewer: Sewer: Connected,Sewer: Public
- Parking Features: Parking: Uncovered
Financial Details
- Tax Amount: $4,632
- Taxes w/Assessments: N/A
- Tax/Property ID: 16-05-163-025
- Tax Year: N/A
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Listing Location
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243 S 800 E Salt Lake City, UT 84102
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