Spencer Ct. Apartments

227 N Spencer Court Salt Lake City, UT 84103

227 N Spencer Court, Salt Lake City, UT, 84103
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FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$4,400,000
Last Verified:
Oct 18, 2024

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Highlights

  • Prime Avenues Location with desirable amenities nearby
  • Value Add Opportunity
  • 22 Units - 13,631 SF
  • Diverse unit mix

Description

Introducing Spencer Court Apartments, a prime 22 unit multi-family property located in the sought-after Avenues area of Salt Lake City. Built in the early 20th century, this property consists of six buildings comprising 6 units (234 E), 4 units (240 E) 3 units (224 E), 4 units (226 E), 3 units (230 E), and 2 units (232 E). Value add opportunity. With its desirable features and potential for strong returns, 226-240 N Spencer Court is an exceptional prospect for those seeking to expand their real estate portfolio.

Discover the allure of the Avenues, a historic and vibrant neighborhood in Salt Lake City. At the foothills of the Wasatch Mountain Range, this area offers a picturesque setting with tree-lined streets, creating a serene living environment. The location provides convenient access to downtown Salt Lake City, the University of Utah, and major transportation routes. With a strong sense of community and an ideal balance of nature and urban conveniences, the Avenues market presents a compelling opportunity for multi-family investment.

Building Size: 13631sq ft
Lot Size: 0.58 acres

Map of 227 N Spencer Court, Salt Lake City, UT, 84103

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.