Salt Lake City

[Michael Simler]

Hi all,

   Does anyone have experience purchasing multi family buildings in the Salt Lake City metro. I'm thinking of investing in some but do not live in the area. Looking to hear from investors experienced in that area for some tips on where the good neighborhoods are and what type of monthly rent is acceptable. I can get financing up to $1.5M. Thanks!

[Scott Dahl]

Hi Michael,

I have a few in the SLC area.  Mainly 4plexes, but I also have a couple SFRs, & a 15 unit.  We've been looking at 10 to 30 unit buildings in the area, but I've been kind of busy with a newborn and the day job.

Somewhere a bit under $1/sqft seems normal for rents in the more popular areas though that drops off with larger SFRs, further out, or lower quality areas.  Mine all hover around $.85/sqft for the most part since I look for a little less turnover.

Sugarhouse is where all the hip kids want to be so there's always demand there.  Let me know if you have more specific questions.

Let me know if you have specific questions.

-scott