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228 E 500 S photo 11 / 16

$220,000

228 E 500 S, Salt Lake City, UT 84111

Type

Condo

List Price

$220,000

Price/Sqft

$451

Est Gross Yield

6.7%

$14,784/yr est.

Property Details

Property typeCondo
Year built1974
Total units1
Living area488 sqft
Bedrooms1
Bathrooms1
Lot size0.01 acres
Days on market86
Listed2026-04-01T00:00:00+00:00

Description

Discover urban living at its best in this stylish studio condo at the Library Square Condominiums, perfectly positioned right on 500 S. and directly across from the former Leonardo building and Salt Lake City Public Library. With downtown energy, Washington Square Park, and some of the city's best restaurants and shopping just steps away, this home puts you in the center of everything. Inside, you'll find 9foot ceilings, hardwood flooring, and a smart, open layout enhanced by a divider wall that creates a defined bedroom area. The kitchen features granite countertops, a dining peninsula, and plenty of storage - complemented by the condo's generous closet and storage space throughout. A full bathroom and inunit washer and dryer add everyday convenience. Enjoy fresh air and city views from your private balcony, or head up to the shared rooftop terrace for relaxing, entertaining, or soaking in the skyline. - Prime downtown location on 500 S - Directly across from the SLC Library - Steps from Washington Square Park, dining, and shopping - 9-foot ceilings & hardwood floors - Granite countertops & dining peninsula - Studio layout with bedroom divider wall - Excellent closet and storage space - Full bathroom - Private balcony - Shared rooftop area - In-unit washer & dryer

Listed by Brandon Peterson · Summit Realty, Inc.

Location

228 E 500 S, Salt Lake City, UT 84111

Proforma

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Cap Rate

4.47%

Cash-on-Cash

-0.55%

Cash Flow

-$38/mo

Purchase Price$220,000
Down Payment35% ($77,000)
Interest Rate6.00%
Monthly Rent$1,232/mo
Vacancy5%
Expense Ratio30% ($4,213)

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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 6/26/2026, 3:49:37 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.