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Days on Market Increasing for Single Family and Multi-Unit in Utah
Salt Lake City Fourplex Listed for $899k; Utah to Sell State Land For Affordable Condo's
David Robinson
August 13, 2025
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Seller Financing Available: This 4 plex just outside the heart of Salt Lake City is situated within steps of Liberty Park and close to the 9th and 9th district. There are many restaurants and coffee shops within an easy distance. Each unit features tons of updates including new double paned windows, a new roof, solar panels, electrical updates, Pex pipes, a new sediment filter and the replacement of some of the main sewer line.
Rare 3-unit multifamily on a large 0.34-acre lot in a prime Sugar House location. The property includes a 3 bed / 1 bath unit and two 1 bed / 1 bath units, totaling 3,036 SF, plus 4 garage bays and 5 additional storage units-offering strong income upside. Current monthly income is $5,735 with proforma rents estimated over $7,000/m. This property presents a big value-add opportunity through updates and optimization. Setup for solid long-term growth in one of Salt Lake City's most desirable rental areas.
Rare Sugarhouse Fourplex hitting the market soon. Priced at $1,250,000, this meticulously maintained 4-unit property features updated interiors, four garages, and a large 0.26-acre lot. Currently bringing in $5,600/month in rents with upside potential, it’s a true turnkey investment with no immediate capital needs. Located within walking distance to parks, dining, and retail, this is an ideal low-maintenance asset in one of Salt Lake City’s most desirable rental markets—perfect for investors seeking stable cash flow and long-term appreciation.
This fully-renovated 8-unit multifamily complex consists of two side-by-side fourplexes, making it a prime asset for any investor's portfolio. Seven of the eight units have been completely renovated with modern upgrades, including new flooring, stainless steel appliances, and updated fixtures. Each unit is a highly efficient 520 square foot, 1-bedroom, 1-bathroom layout, appealing to a wide range of renters. One unit remains to be renovated, providing a clear value-add opportunity to further increase income. This property is a turnkey asset in a thriving market, offering immediate cash flow and strong appreciation potential. Located in a desirable Salt Lake City neighborhood with excellent access to public transit and downtown, it promises high demand and low vacancy rates. This is a rare chance to acquire a stabilized, high-quality asset with built-in growth potential. This property is currently professionally managed by Logic Property Management.
Canovo Group may not be the listing brokerage for the above properties. The information provided is not guaranteed and should not be relied upon to make investment decisions. Buyers should complete their own analysis and due diligence before making any investment.
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Mortgage Rates as of 8/12/2025
Source: Mortgage News Daily
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> Headlines & Insights
FEATURED
Utah is launching a new pilot program to sell unused state-owned land—mostly from UDOT—for the development of affordable, for-sale condos. The goal is to create housing for moderate-income buyers while making better use of vacant land.
Main takeaways:
UDOT is making a list of underused properties (like dirt lots and parking areas) to sell below market value for new condo projects.
The state will allow developers to defer payment until projects are finished, helping reduce upfront costs and pass savings to buyers.
Homes built will be deed-restricted to stay affordable and located near transportation corridors along the Wasatch Front.
What this means for Utah investors:
New infill development opportunities – Expect more land parcels near major roads to become available for moderate-income housing development. This may open doors for investors focused on condo and townhome projects.
Public-private collaboration possibilities – Builders aligned with state affordability goals could benefit from reduced land costs and favorable terms (like deferred payment).
Affordable housing with long-term controls – While profits may be capped due to deed restrictions, steady demand and lower land costs may still create appealing margins for developers.
Salt Lake, Provo, and Ogden impact – Watch for pilot projects across the Wasatch Front, especially in fast-growing cities with high land values and limited new for-sale housing stock.
National Headlines
China Tariff Pause Extended — President Trump signed an executive order delaying the return of high tariffs on Chinese goods by 90 days, avoiding a snapback to peak levels of 145% on U.S. imports and 125% on Chinese goods. The pause, following July talks in Stockholm, keeps current tariffs at 30% (U.S.) and 10% (China) until mid-November. The move maintains an uncertain trade environment, impacting business planning, especially in import-reliant sectors like real estate construction and materials.
IRS Boss Shakeup — President Trump removed IRS Commissioner Billy Long just months into the job, temporarily handing oversight to Treasury Secretary Scott Bessent amid major tax and tariff policy changes. The move follows sweeping tax cuts, surging tariff revenue, and a controversial bill expected to add $3.3 trillion to the national debt.
Multifamily Developer Confidence Rises — Multifamily builders are feeling a bit better about the market, thanks to federal affordable housing support and easing construction backlogs. Despite high interest rates and tough regulations, 2025 starts are expected to slightly outpace 2024, though still lag behind 2023 levels.
Apartment Builds Plunge — U.S. apartment construction has dropped to its lowest level in nearly 10 years, with only 543,000 units underway—down 37% from last year. Major metros like Austin, Phoenix, and Dallas have seen sharp slowdowns, while only a few markets like Cincinnati and Richmond are building more.
CRE Prices Stuck in Limbo — U.S. commercial real estate prices remain flat, with values still 18% below 2022 highs. Tight liquidity and high interest rates have stalled sales activity, creating a “shadow freeze” where owners are holding firm rather than selling at discounts. Without rate cuts or major economic shifts, prices in Utah and beyond may stay in limbo.
David Robinson
Principal Broker/Owner
Whenever you’re ready, here are a few ways I can help you:
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