I am a commercial real estate broker in SLC. The "quick and dirty" on SLC is that it is arguably one of the best multi-family markets for what I would call Capital Preservation. We are #1 in population growth, we have 3 major universities that put out a very large, young, educated workforce, we have an extremely diverse economy (so we don't see the dips like markets that have all their eggs in 1 basket). I have sold 130, 124, 43, 16, 32, 8, 8, 6, and close tomorrow on a 32 unit, and am going U/C on another 30 unit. Average unit pricing is about $68,000/door and climbing. Concessions have burned of and rents are expected to increase 3% to 6% over the next 12 months, vacancy is currently 5% and projected to dip below 3% inside of the next 24 months. Lots of reasons SLC is the place to be. $150,000 woudl likely only get you into a $600,000 property (25% down), but I have a 6 unit U/C currently at $550,000 that is a 7.5% CAP that with leverage would likley give you a 9% year 1 cash on cash return - and have very little downside and lots of reasons for future appreciation. In the biggest commercial recession since the Savings and Loan days in the early 80's our multi-family market dropped a total of 3% - and that coudl be argued to be a false reporting figure becase very little traded up until this year when debt became available again. Come spend your $ in slc w/ me.
Nov 29, 2011