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Investment Properties for Sale in Millcreek, Utah
Millcreek sits in a sweet spot for Utah investors: close enough to downtown Salt Lake and the University of Utah to keep rental demand steady, but with bigger lots and lower entry prices than Sugar House or Holladay next door. The city incorporated in 2016 and has been actively reshaping its core around 3300 South and Highland Drive, where a new downtown district is going in alongside the existing mix of mid-century ramblers, brick bungalows, and pockets of small multi-family. Most of the rental inventory is single-family homes built between 1945 and 1980, often on quarter-acre lots that leave room for a detached ADU or basement apartment conversion — something Millcreek's zoning has been notably friendly toward compared with its neighbors.
The numbers tend to work for buy-and-hold rather than flips. Median sale prices generally run in the $550K-$750K range depending on neighborhood (East Millcreek and Canyon Rim sit higher, the west side near State Street sits lower), and a renovated 3-bedroom typically rents from $2,200 to $2,800. Short-term rentals under 30 days are restricted in most residential zones, so the realistic strategies here are long-term tenants, mid-term furnished rentals for medical and tech workers, or house-hacking with a permitted ADU. Older homes mean sewer lines, electrical panels, and unpermitted basement finishes are the usual due-diligence landmines. Browse the active investment-oriented listings below to see what's currently available and where the numbers actually pencil.
May 2026 · Millcreek market
Live from the Utah MLS — what's actually happening in Millcreek right now.
Median sale
$625,000
34 closed in May 2026
Median DOM
10 days
listing → contract
Sale-to-list
100.0%
of final list price
Unsold inventory
137
active + pending
32 matching · page 1 of 2
Active listings
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Common questions
About investment properties in Millcreek.
What kinds of investment properties are common in Millcreek? ▾
The most common plays here are older single-family homes on larger lots (often 1940s-1970s ramblers and brick bungalows) that work as long-term rentals or light flips, plus a smaller pool of duplexes and small multi-family near 3300 South and 3900 South. True multi-unit buildings are rare because Millcreek's zoning skews residential, so most investors target single-family rentals or ADU-capable lots.
Does Millcreek allow accessory dwelling units (ADUs)? ▾
Yes. Millcreek has been one of the more ADU-friendly cities along the Wasatch Front, permitting both internal and detached ADUs in most residential zones with owner-occupancy and parking requirements. That makes basement apartments and backyard cottages a realistic way to add a second income stream, especially on the larger lots east of 1300 East.
What kind of rents do Millcreek properties pull? ▾
Rents track close to Salt Lake City proper because of the location. A updated 3-bed single-family in Millcreek typically rents in the $2,200-$2,800 range, and basement apartments or ADUs commonly run $1,100-$1,500. Proximity to the U of U, downtown, and Cottonwood Heights employers keeps vacancy low.
Is short-term rental (Airbnb) allowed in Millcreek? ▾
Millcreek restricts short-term rentals under 30 days in most residential zones, so STR-focused investors generally need to look at Park City, Moab, or St. George instead. Mid-term furnished rentals (30+ days) targeting traveling nurses at nearby hospitals and relocating tech workers are a workable alternative here.
Why do investors target Millcreek over neighboring cities? ▾
Location and land. Millcreek sits between Salt Lake City and Holladay with quick access to I-15, I-215, and the canyons, but lot sizes are bigger and prices are typically lower than equivalent Sugar House or Holladay properties. The city also incorporated relatively recently (2016) and is actively investing in its new downtown around 3300 South, which long-term should support values.
What should I check before buying an older Millcreek rental? ▾
Sewer line condition (clay pipes are common and root intrusion is the standard nasty surprise), electrical panel and knob-and-tube remnants, and whether the basement was finished with permits. Also confirm the lot's zoning designation and ADU eligibility directly with Millcreek planning before banking on a second-unit strategy.