416 E SCOTT AVE Salt Lake City, UT 84115

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The home for sale at 416 E SCOTT AVE Salt Lake City, UT 84115 has been listed at $2,180,000 and has been on the market for 31 days.

416 Scott Ave presents a rare opportunity to acquire a wellmaintained, low-density multifamily asset with oversized units and significant value-add potential. This six-unit property comprises: Unit A: A recently renovated 1,387 SF single-family home (3BD/2BA), featuring new flooring, appliances, cabinetry, carpeting, wood siding, fresh paint, upgraded lighting, switches, and outlets. The home also offers a spacious front and side yard for outdoor enjoyment. Unit B: A 1,092 SF single-family home (3BD/1BA) sharing a carport with Unit A. The roof for both homes was replaced in 2024. This unit is in good condition with updated appliances and a fenced backyard. Units C, D, E & F: Four large duplex units (each 1,546 SF) built in 1996 and 1998, designed in a desirable townhome-style layout with 3BD/2BA and attached two-car garages. Each duplex appraised for $725,000 in April 2024. While all units have been wellmaintained, Unit D underwent a full renovation in 2024, including new flooring, paint, carpeting, updated lighting fixtures and more. The properties are situated on three separate parcels, providing the opportunity for a buyer to secure residential financing. VALUE-ADD POTENTIAL This property offers multiple opportunities to increase revenue and maximize returns: Rent Optimization: Current rents are significantly below market rates. The average market rent for 3BD/2BA units in the area is approximately $2,500, while current in-place rents average $1,572, representing a $928+ per unit upside. The 3BD/1BA unit currently rents for $1,486, while market rates are $2,200, creating an additional $714 per unit opportunity. Utility Reimbursement: The owner currently covers water, sewer, and trash expenses. Implementing a utility reimbursement program would further enhance NOI. Additional Revenue Streams: The property features ample unused land, which could be leveraged for storage unit development or additional tenant amenities to improve retention and increase income.

General Information

Building and Construction

• Roof:
• Exterior:
• Construction:
• Foundation Basement: d d

Garage and Parking

• Garage Type: No
• Garage Spaces: 0

Price History

Mar 14, 2025

$2,180,000

Just Listed

$251.64/sqft

LOVE THIS HOME?

Schedule a showing or ask a question.

Kristopher
Larson

801-410-7917

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Schools

• Highschool: None/Other
• Jr High: None/Other
• Intermediate: None/Other
• Elementary: None/Other

Walk Score

47

Car-Dependent

Transit Score

45

Some Transit

Bike Score

47

Somewhat Bikeable

This area is Car-Dependent - very few (if any) errands can be accomplished on foot. Some Transit available, with 5 nearby routes: 5 bus, 0 rail, 0 other. This area is Somewhat Bikeable - it's convenient to use a bike for a few trips.

Other Property Info

• Area: Salt Lake City; So. Salt Lake
• Zoning:
• State: UT
• County: Salt Lake
• This listing is courtesy of: David A GalantPathway Properties, LLC. 385-423-8589.

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 kris@bestutahrealestate.com with the MLS number 2070610.

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.