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119 K ST, Salt Lake City, UT 84103
$1,800,000
Reduced from $1,930,000 · today
119 K ST, Salt Lake City, UT 84103
Units
15
Price/Unit
$120,000
Price/Sqft
$211
Est Gross Yield
11.6%
$209,676/yr est.
Property Details
Unit Mix
| Type | Count | Beds | Baths | Sqft | Rent/Mo |
|---|---|---|---|---|---|
| 1BR / 1BA | 11 | 1 | 1 | 568 | — |
| Unit 2 | 4 | 0 | 1 | 568 | — |
| Total | 15 | 11 | 15 | 8,520 | — |
Unit mix data is reported by the seller or listing agent through the MLS and may be inaccurate or incomplete. Buyers should independently verify all information and conduct their own due diligence before making any investment decisions.
Description
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.
Listed by Zach Droubay · Bybee & Co Realty, LLC
Location
119 K ST, Salt Lake City, UT 84103
Proforma
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Cap Rate
7.75%
Cash-on-Cash
8.19%
Cash Flow
$4,605/mo
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Pro forma estimates are based on assumptions, not guaranteed, and should not be relied upon.
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© 2026 UtahRealEstate.com. All rights reserved. Based on information from the Wasatch Front Regional Multiple Listing Service, Inc. as of 6/19/2026, 4:35:21 AM. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or the MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listing data provided by UtahRealEstate.com.