South Salt Lake Homes For Sale: Excellent Investment Opportunity
Investing in real estate can be a lucrative venture, and if you’re searching for an excellent opportunity in South Salt Lake, look no further than this centrally located triplex. Situated on a large lot with ample parking in the back, this property boasts a driveway entrance off 2700 South and an alley entrance in the rear, ensuring convenient access for both tenants and owners.
One of the many advantages of this triplex is its potential for generating multiple streams of rental income. Unit 1, located in the basement, comes equipped with laundry facilities, a desirable feature for tenants. Units 2 and 3 have tenants on a yearly lease, ensuring a stable income for the foreseeable future. Additionally, unit 1 has a long-term tenant on a month-to-month lease, providing flexibility for potential new owners.
A significant advantage for investors is that tenants in all units are responsible for paying all utilities. This arrangement not only reduces the owner’s expenses but also ensures that tenants have a greater sense of responsibility and accountability.
To further establish the value of this property, the owner recently had an appraisal done for a Home Equity Line of Credit (HELOC), which revealed an appraised value of 682K. This appraisal suggests that the property is priced to sell, making it an even more attractive investment opportunity.
Showings for this triplex are scheduled exclusively for serious buyers, as the owner aims to maintain the privacy and comfort of the current tenants. Therefore, it is essential to respect their rights and refrain from disturbing them during the sales process.
While the square footage is based on tax information, potential buyers should verify this information independently to ensure accuracy. Due diligence is crucial when considering any real estate investment, and verifying key details such as square footage can help buyers make informed decisions.
In conclusion, this centrally located triplex in South Salt Lake presents an excellent investment opportunity. With its large lot, ample parking, and convenient entrances, this property is well-suited for generating steady rental income. The long-term tenant, along with the yearly lease agreements, provides stability for potential owners. Furthermore, the recent appraisal for a HELOC shows that the property is attractively priced. Serious buyers interested in this triplex should schedule showings while respecting the privacy of the current tenants. Don’t miss out on this opportunity to invest in South Salt Lake’s thriving real estate market.
229 E 2700, South Salt Lake, UT 84115