119 K ST, Salt Lake City, UT 84103
119 K ST, Salt Lake City, UT 84103
119 K ST, Salt Lake City, UT 84103
119 K ST, Salt Lake City, UT 84103
119 K ST, Salt Lake City, UT 84103
119 K ST, Salt Lake City, UT 84103
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Ashley McClelland

Ashley McClelland

+1(801) 654-7100
$ 1,950,000
Est. payment | /mo

10 Beds

15 Baths

8,513 SqFt

Save
$ 1,950,000
Est. payment | /mo
Save

10 Beds

15 Baths

8,513 SqFt

Key Details

Property Type Multi-Family

Sub Type > 4 Units

Listing Status Active

Purchase Type For Sale

Square Footage 8,513 sqft

Price per Sqft $229

MLS Listing ID 2141710

Bedrooms 10

Construction Status Blt./Standing

HOA Y/N No

Year Built 1905

Annual Tax Amount $15,792

Lot Size 0.390 Acres

Acres 0.39

Lot Dimensions 0.0x0.0x0.0

Property Sub-Type > 4 Units

Property 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.

Location

State UT

County Salt Lake

Area Salt Lake City: Avenues Area

Zoning Multi-Family

Direction There are two structures. The 119 K Street address is the northernmost building on the property.

Interior

Fireplace false

Exterior

Carport Spaces 8

Utilities Available Natural Gas Connected, Electricity Connected, Sewer Connected, Water Connected

View Y/N Yes

View Mountain(s), Valley

Roof Type Asphalt

Present Use Residential

Topography Road: Paved, Sidewalks, Terrain: Grad Slope, View: Mountain, View: Valley

Total Parking Spaces 8

Private Pool false

Building

Lot Description Road: Paved, Sidewalks, Terrain: Grad Slope, View: Mountain, View: Valley

Faces South

Sewer Sewer: Connected

New Construction No

Construction Status Blt./Standing

Schools

Elementary Schools Wasatch

Middle Schools Bryant

High Schools West

School District Salt Lake

Others

Senior Community No

Tax ID 09-32-353-023

Acceptable Financing Cash, Conventional

Horse Property No

Listing Terms Cash, Conventional

Listed by Bybee & Co Realty, LLC

NEARBY SCHOOL & BUSINESS

Ashley McClelland

+1(801) 654-7100

ashley@slchousesforsale.com

9980 S 300 W, Sandy, UT, 84070, USA

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119 K ST