416 E Scott Ave
Salt Lake City, UT 84115
- 18 beds
- 12 baths
- 8,663 sqft
- ~3/4 acre lot
- $251 per sqft
- 1953 build
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.
Last checked:
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Last updated Apr 9, 2025
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MLS# 2070610 —
The Building
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Year Built:1953
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Year Built Effective:1998
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New Construction:false
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Construction Status:Blt./Standing
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Architectural Style:Stories: 2
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# of Units Total:6
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Building Area Total:8663.0
Interior
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Fireplace:false
Room Dimensions
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Living Area:8663.0
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Living Area Units:Square Feet
Location
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Cross Street:3400
The Property
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View:false
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Parcel Number:16-31-205-056
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Property Type:Residential
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Property Subtype:> 4 Units
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Property Condition:Blt./Standing
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Zoning Description:1206
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Current Use:Residential
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Waterfront:false
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Horse:false
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Lot Size Acres:0.66
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Lot Size Area:0.66
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Lot Size Dimensions:0.0x0.0x0.0
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Lot Size SqFt:28749.6
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Lot Size Units:Acres
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Annual Amount:13326.0
Beds
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Bedrooms Total:18
Baths
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Baths:12
The Listing
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Virtual Tour Unbranded:
Heating & Cooling
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Heating:false
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Cooling:false
Schools
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Elementary School:None/Other
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Middle Or Junior School:None/Other
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High School:None/Other
The Community
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Senior Community:false
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Pool Private:false
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Spa:false
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Association:false
Parking
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Garage:false
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Attached Garage:false
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Carport:false
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Open Parking:false
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
3/14/25
Mar 14, 2025
|
Listed / Active | WFRMLS | $2,180,000 |
