- For Sale $1,675,000
- Property Type Multi-Family
- Property Size 6,750 SF
- Units 4
- Lot Size 0.08 Acre
- Year Built 1938
- Date Updated Aug 4, 2026
Description
Discover the allure of Salt Lake City's vibrant Avenues district, where historic charm meets modern convenience. Nestled in this coveted locale, future residents of the area will find themselves within easy reach of renowned attractions such as City Creek Center, Temple Square, and the University of Utah. Boasting an eclectic array of trendy eateries, boutique shops, and cultural landmarks, the Avenues district stands as a hub of activity and opportunity. With its tree-lined streets and stunning mountain views, the area offers an inviting atmosphere for a desirable urban lifestyle. From cozy cafes to scenic walking trails, there's something to captivate every resident in this dynamic and sought-after neighborhood.This 6,750 SF 4-unit property, built in 1938, presents the perfect blend of historic charm and modern potential. The 2-story brick building, conveniently located at the iconic Avenues Corner of 3rd and K Street, offers a corner retail space occupying 2,700 SF on the main level, accompanied by 3 charming 1-bedroom apartments on the second floor. With below-market rents, strong upside potential, and a proforma NOI of $126,600 at 7.23% Cap, this property promises an excellent investment opportunity.
Highlights
- (3) Charming 1-Bd Apartments Occupy the 2nd Floor
- Beautiful 2-Story Brick Building Built in 1938
- Below Market Rents, Strong Upside
- Corner Retail, Plus (3) 1-Bedroom Apartments
- Current In-Place: $74,716
- Excellent Rental History
- Healthy Pets Retail Space Occupies 2,700 SF Main Level + 2,100 SF Basement
- Proforma NOI: $126,600 with 7.23% Cap
- Retail Rent Increases 3% Annually, Expires on 4/30/2029
- Well Maintained avenues Corner of 3rd and K Street
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Contacts
Michael Ferro
InterNet Properties
Location
Located at 702 East 3rd Avenue, Salt Lake City, UT 84103, this property is part of the The Avenues neighborhood and Salt Lake City market.
Contact Listing Broker
Michael Ferro
InterNet Properties