Overview
Graystone Capital Advisors is pleased to present 240 N Rendon Court, a two-lot offering and development opportunity in a prime Salt Lake City location that is close to everything.
The offering comprises 0.47 acres of development-ready land across two adjacent, contiguous parcels, both zoned SR-3 (Attached Dwelling). The site is well-suited for a new townhome project with byright development potential, eliminating lengthy rezone processes and reducing time to develop.
Located in a neighborhood with excellent transit connectivity and proximity to downtown employment centers, this offering provides investors the opportunity to capitalize on Salt Lake City's robust population growth and strong demand in the for-sale housing market.
The SR-3 zoning streamlines the approval process for townhome builds, fascilitating project execution in one of the city's most dynamic markets.
*Please see additional listing for lot with existing assets to the East of 240 Rendon (241 N 600W), Zoned SR1-A and with 3 SF homes and 1 Duplex. Properties can be purchased together.
Investment Highlights
Development Upside: With 0.47 acres (20,419 SF) across two SR-3 zoned lots, the property offers significant upside potential for townhome construction. The land is in high demand given the transitaccessible housing market in Salt Lake City. The site's accessibility to public transportation and utilities makes it an attractive option for future development. Attractive Market Valuation: The two SR-3 townhome development lots have been appraised at $1,120,000, with a price per square foot of $54.85. The pricing positions the portfolio competitively in the current market, offering investors a solid opportunity in a high demand housing market.
Preliminary conversations with the city have revealed potential density of 13 units on 0.47 acres (1 per 1500f)
*Townhome Sold Comps Available in Deal Room
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