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423 E 1ST N AVE, Salt Lake City, UT 84103
$625,000
423 E 1ST N AVE, Salt Lake City, UT 84103
Units
5
Price/Unit
$125,000
Price/Sqft
$196
Est Gross Yield
11.4%
$71,460/yr est.
Property Details
Unit Mix
| Type | Count | Beds | Baths | Sqft | Rent/Mo |
|---|---|---|---|---|---|
| 1BR / 1BA | 1 | 1 | 1 | 632 | — |
| 1BR / 1BA | 1 | 1 | 1 | 319 | — |
| 1BR / 1BA | 1 | 1 | 1 | 468 | — |
| 1BR / 1BA | 1 | 1 | 1 | 470 | — |
| 1BR / 1BA | 1 | 1 | 1 | 470 | — |
| Total | 5 | 5 | 5 | 2,359 | — |
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
Investment opportunity in Salt Lake City's highly desirable Avenues neighborhood. Located just minutes from Downtown Salt Lake City, the University of Utah, major hospitals, restaurants, and outdoor recreation, this five-unit property offers a rare chance to own multifamily real estate in a prime location. The property consists of five one-bedroom, one-bathroom units on a large lot with significant upside potential. While the building needs renovation, it presents an excellent opportunity for an investor looking to improve the property, increase rents, and add value over time. The Avenues continues to see strong rental demand thanks to its walkability, historic character, and close proximity to downtown and the University of Utah. The oversized lot may also offer future opportunities, subject to buyer verification. Whether you're looking for a value-add project, long-term investment, or redevelopment opportunity, this property offers a chance to invest in one of Salt Lake City's most established neighborhoods.
Listed by Casey Halliday · Windermere Real Estate
Location
423 E 1ST N AVE, Salt Lake City, UT 84103
Proforma
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Cap Rate
7.60%
Cash-on-Cash
7.80%
Cash Flow
$1,524/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 6/26/2026, 7:05:54 PM. 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.