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For Sale | Multifamily Investment Property Under Contract

Stateman Apartments

155 South 400 East
Salt Lake City, UT United States
Inquire About This Property
Sale Price:
$3,412,929 USD
Price Per Unit:
$179,628.00 / USD
Lot Size:
.22 Acres
Year Built:

Cushman & Wakefield as exclusive advisor is pleased to present the opportunity to acquire Statesman Apartments (the “Property” or “Statesman”), a 19-unit historic apartment building in downtown Salt Lake City, Utah. Salt Lake City, serving as both the capital of Utah and its cultural and economic hub, is renowned for its robust demographics, availability of jobs and higher education, affordability, and unparalleled access to outdoor recreation, making it the vibrant urban core of the mountain west.

Originally built in 1928 (extensively renovated in 2020) on a 0.22-acre site, Statesman caters to both young professionals and students due to its proximity to the core of downtown and the University of Utah. The property grants residents an urban lifestyle in one of Salt Lake City’s most desirable and vibrant locations. Statesman features efficient units, ample street/off-street parking, and presents a compelling discount to newer, Class A properties, perfectly accommodating its younger clientele.

Current ownership’s meticulous renovation project has bolstered the Property’s historic appeal, allowing the next investor to capture future rent appreciation without the upfront cost.

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