653 E 300 S, Salt Lake City, UT 84102
653 E 300 S, Salt Lake City, UT 84102
653 E 300 S, Salt Lake City, UT 84102
653 E 300 S, Salt Lake City, UT 84102
653 E 300 S, Salt Lake City, UT 84102
653 E 300 S, Salt Lake City, UT 84102
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Jacob Chase

Jacob Chase

+1(801) 884-3784
$ 1,999,000
Est. payment | /mo

18 Beds

14 Baths

11,564 SqFt

Save
$ 1,999,000
Est. payment | /mo
Save

18 Beds

14 Baths

11,564 SqFt

Key Details

Property Type Multi-Family

Sub Type > 4 Units

Listing Status Active

Purchase Type For Sale

Square Footage 11,564 sqft

Price per Sqft $172

Subdivision Plat B

MLS Listing ID 2163456

Style Stories: 3

Bedrooms 18

Construction Status Blt./Standing

HOA Y/N No

Year Built 1913

Annual Tax Amount $14,400

Lot Size 9,583 Sqft

Acres 0.22

Lot Dimensions 0.0x0.0x0.0

Property Sub-Type > 4 Units

Property Description

100% VACANT | MAJOR INFRASTRUCTURE UPGRADES | VALUE-ADD OPPORTUNITY | FORMER LICENSED RECOVERY RESIDENCE Exceptional opportunity to acquire The George, a historic 14-unit brick apartment building in Salt Lake City's desirable Central City neighborhood. Offering approximately 11,564 square feet, the property features ten one-bedroom and four two-bedroom apartments, each with its own private kitchen and bathroom. SUBSTANTIAL CAPITAL IMPROVEMENTS ALREADY COMPLETED. The current nonprofit owner has invested significantly in the property's core infrastructure, including comprehensive electrical and plumbing upgrades, a modernized boiler heating system, tankless water heaters supported by a high-capacity hot water storage system, and building-wide fire suppression and monitoring systems. Interior improvements include updated flooring, carpeting, and paint. The apartments retain their historic character and practical, industrial-style finishes, including exposed conduit and mechanical piping. This presents an opportunity for investors to enhance the interiors while benefiting from substantial existing infrastructure improvements. IMMEDIATE ACCESS FOR RENOVATION OR LEASE-UP. All 14 apartments are vacant, allowing a purchaser to implement improvements, establish new market-rate leases, or pursue another permitted residential use without coordinating around existing tenants. ESTABLISHED RECOVERY-HOUSING HISTORY. The property previously operated as a recovery residence licensed through the Utah Department of Health and Human Services. The owner voluntarily relocated its recovery-housing operations in preparation for the property sale. The building's established residential configuration, upgraded mechanical systems, and fire protection infrastructure may also appeal to organizations seeking recovery housing, transitional housing, or other specialized residential facilities. Any new operation is subject to applicable approvals and licensing. INVESTMENT HIGHLIGHTS 14 self-contained apartments - 10 one-bedroom and 4 two-bedroom units Approximately 11,564 square feet on a 0.22-acre parcel Attractive acquisition basis of approximately $142,786 per apartment Major electrical, plumbing, heating, and life-safety upgrades Modernized boiler and high-capacity domestic hot water system Updated flooring, carpet, and interior paint Entire building vacant and available for immediate buyer planning Central City location near downtown employment, dining, shopping, and public transportation Opportunity for conventional multifamily leasing or specialized residential operation INVESTOR FINANCIAL PACKAGE AVAILABLE. Seller-prepared financial materials include historical operating expenses, documented recovery-residence operating history, nearby rental comparables, and a market-rent-based stabilized income projection. The George offers investors an opportunity to acquire a distinctive historic multifamily property with significant infrastructure improvements already in place and the flexibility to pursue their own leasing and improvement strategy.

Location

State UT

County Salt Lake

Area Salt Lake City; So. Salt Lake

Zoning Multi-Family

Interior

Heating Steam

Flooring Carpet, Hardwood

Fireplace No

Window Features Shades

Exterior

Exterior Feature Patio: Covered

Carport Spaces 6

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

View Y/N No

Roof Type Asphalt

Present Use Residential

Porch Covered

Total Parking Spaces 9

Private Pool No

Building

Sewer Sewer: Connected, Sewer: Public

Water Culinary

Architectural Style Stories: 3

Structure Type Brick

New Construction No

Construction Status Blt./Standing

Schools

Elementary Schools Bennion (M Lynn)

Middle Schools Bryant

High Schools East

School District Salt Lake

Others

Senior Community No

Tax ID 16-05-153-009

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Listed by Realtypath LLC (Preferred)

NEARBY SCHOOL & BUSINESS

Jacob Chase
Jacob Chase

Broker Associate License ID: 13529881-BB00

+1(801) 884-3784 | jake@alignrealtygroup.com

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653 E 300 S