PROPERTY DETAILS

The home for sale at 278 E 100 S Salt Lake City, UT 84111 has been listed at $16,950,000 and has been on the market for 257 days.

This sale includes 4 buildings and 112 units. After the buildings were renovated in 1995 Pauline Downs became a part of the Low Income Housing Tax Credit Program (LIHTC), which requires all tenants to qualify as low income. The commitment at the time was for 99 years, leaving 72 years left. The max allowable rents are released each year by HUD. Property management conducts rent increases each year during lease renewals. The subject property has historically received increases in the max allowable rents which provides an opportunity for buyers to continue to achieve rent increases each year. In May 2020 a fire burned down the Embassy Apartments, the building located at 120 S 300 E which included 32 units. It left the units unrentable. When the current owners purchased the building, they began construction to rebuild the burned units which were completed in July of 2022. As part of the construction extensive renovations were completed including: New flooring, New paint, Entire 4th floor gutted to studs and rebuilt, New plumbing throughout, Some updates to electrical throughout, All new electric on 4th floor, New shower surrounds, New shower hardware, New light fixtures, New toilets, New vanities in all bathrooms, New cabinets in all kitchens, New granite counters in all kitchens, New stainless steel appliances, Exterior paint, New boiler system installed prior to fire and reactivated after construction, All new roof structure and roof with upgraded seismic strapping for roof system. Includes Tax IDs: 16-06-129-014, 16-06-129-015, 16-06-129-016, and 16-06-129-017.

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General Information

Price

$16,950,000
Days on Market

257
Area

Salt Lake City; So. Salt Lake
Total Bedrooms

54
Total Bathrooms

112
House Size

58400 Sq Ft
Neighborhood

PLAT A
Address

278 E 100 S Salt Lake City, UT 84111
HOA

NO

Lot Size

0.90
Price/sqft

290.24
Year Built

1907
MLS

1827699
Status

Active
City

Salt Lake City
Term Of Sale

Cash,Conventional

Inclusions

Ceiling Fan
Range
Refrigerator

Interior Features

Alarm: Fire
Range/Oven: Free Stdng.

Exterior Features

Balcony

Building and Construction

Roof:
Exterior: Balcony
Construction: Brick
Foundation Basement: d d

Garage and Parking

Garage Type: No
Garage Spaces: 0

Land Description

Corner Lot
Curb & Gutter
Road: Paved
Sidewalks

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Lance and Jennnifer
Goddard

801-410-7917

Lance and Jennnifer
Goddard

801-410-7917

Other Property Info

Area: Salt Lake City; So. Salt Lake
Zoning:
State: UT
County: Salt Lake
This listing is courtesy of: Cory Waddoups Investment Realty Advisors LLC. 435-485-7070.

Utilities

Natural Gas Connected
Electricity Connected
Sewer Connected
Sewer: Public
Water Connected

Schools

Highschool: East
Jr High: Bryant
Intermediate: Bryant
Elementary: Wasatch

This data is updated on an hourly basis. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. If you need more information on this property please email info@blgrealestate.com with the MLS number 1827699.

PUBLISHER'S NOTICE: All real estate advertised herein is subject to the Federal Fair Housing Act and Utah Fair Housing Act, which Acts make it illegal to make or publish any advertisement that indicates any preference, limitation, or discrimination based on race, color, religion, sex, handicap, family status, or national origin.

278 E 100 S Salt Lake City, UT 84111