- Prime Location and Accessibility
- Strong Tenant Demand
- Capital Improvements Enhance Value
- Attractive Amenities for Tenant Retention
Prime Location and Accessibility
Located on the edge of downtown Salt Lake City, this asset benefits from proximity to a growing commercial and residential market. Despite the influx of new construction in the area, Towers on Main remains an affordable, market-rate option, positioning it as a key player in the workforce housing sector. Public transportation and walkability to downtown further enhance its appeal, attracting tenants seeking convenience and affordability.
Strong Tenant Demand
This property offers a unique advantage in the market as one of the few low-cost options still classified as market-rate housing. As new developments in the area continue to drive up rents, Towers on Main remains an affordable housing option, making it an attractive choice for tenants. Current management requires strong incomes and clean backgrounds for all tenants. The property’s continued demand from quality tenants underscores its stability as an investment.
Capital Improvements Enhancing Value
Towers on Main has recently undergone significant capital improvements, further increasing its investment potential. Upgraded elevator cabs, a modernized chiller system, and renovations to select units demonstrate the property’s potential for rent growth and enhanced tenant satisfaction. These updates not only improve the property’s marketability but also position it to achieve higher rental income moving forward.
