55 E 200 N, Salt Lake City, UT 84103

Property Description

This rare multi-family offering consists of three standalone duplexes creating six individual residential units, ideally located on Capitol Hill bordering downtown, the State Capitol, and the Avenues in one of Salt Lake City's most desirable and enduring neighborhoods. Positioned just above North Temple, the property provides exceptional accessibility to the University of Utah, the vibrant urban corridor, the airport, and the surrounding canyons, while maintaining a sense of privacy set back from the city center. The unique configuration creates a residential environment where each unit lives more like an individual home, with private entryways framed by distinctive turret-style architectural elements. Rich in character, the residences feature original hardwood floors, fireplaces, curved doorways, and colorful vintage tile, elements that have contributed to long-term tenant retention and a strong sense of place. The unit mix includes two one-bedroom, two two-bedroom, and two three-bedroom residences, each with one bathroom and thoughtful layouts. Several units offer additional flexibility with den or dining spaces, along with private balconies capturing views of downtown and the surrounding mountain ranges. A central courtyard provides a shared outdoor gathering space, complemented by covered parking for each unit, shared laundry, and additional storage. While currently capturing below market rents, this property attracts consistent loyalty with many tenants in place for extended periods, some for over two decades, a firm reflection of both the appeal of the property and the stability it offers. While the property has been maintained over time, it presents a clear opportunity for a future owner to thoughtfully update and reposition the asset, aligning rents more closely with current market levels while preserving its architectural integrity. A compelling opportunity to acquire a legacy property with strong fundamentals, irreplaceable character, and meaningful long-term upside in one of Salt Lake City's most sought-after locations.