400 E 700 S Salt Lake City, UT

Investment Highlights

• Central City Location — Strategic Midpoint Between Downtown SLC & the University of Utah
• Ideal Tenant Profile — Young, Educated, Renter-Heavy 84111 Zip Code
• 2022 Renovation Program — Reduced Near-Term Capex Risk
• Durable Commercial Anchor — Existing Lease Providing Predictable Income
• Portfolio Scale with Management Efficiency — 11 Residential Units + 1 Commercial Tenant
• Residential Amenities and Urban Walkability Supporting Tenant Retention
• Zoning & Development Optionality (RMF-35)

Central City Location — Strategic Midpoint Between Downtown SLC and the University of Utah

The portfolio sits in Salt Lake City’s Central City neighborhood at the midpoint between Downtown Salt Lake City and the University of Utah campus, with direct access to I-15 and I-80. Major demand drivers include the University of Utah, University of Utah Health, State and Federal Government (approximately 21% of SLC employment), Delta Air Lines’ third-largest hub, Intermountain Health, and the Goldman Sachs SLC campus. The neighborhood is the most walkable in SLC, with TRAX Light Rail connecting to Downtown, the U of U, and the Airport. Liberty Park, the 9th & 9th District, Sugar House, and Downtown SLC amenities are all within walking distance or minutes away. World-class skiing at Alta, Snowbird, and Park City is within 30–45 minutes.

Ideal Tenant Profile — Young, Educated, Renter-Heavy 84111 Zip Code

The 84111 zip code captures a young, educated, renter-heavy population — the ideal tenant profile for a residential portfolio of this type. The median age of 32–33 reflects a concentration of working professionals, graduate students, and young families. Median household income is $52,952, with an average household income of $78,896. The unemployment rate is approximately 2–3.5%, among the lowest in the state, and the share of residents with a bachelor’s degree or higher exceeds the Utah state average. Renter-occupied households are significantly above the state average, reinforcing a strong rental demand base. The average commute to work is 21.7 minutes — well below the national average.

2022 Renovation Program — Reduced Near-Term Capex Risk

The portfolio benefitted from a meaningful capital investment cycle completed in 2022, addressing both interior livability and exterior envelope integrity across the residential units — including kitchen and bathroom updates along with numerous exterior upgrades such as the installation of a private parking gate. Minor repairs and maintenance completed 2023–present have preserved asset condition.