Description

Jones Lang LaSalle Americas, Inc., as exclusive advisor, is pleased to present for sale Towers on Main (the "Property"), a 174-unit multifamily community located in Salt Lake City, Utah. Delivered in 1963, the Property offers residents an affordable living experience through classic mid-century architecture and functional floor plans across a diverse unit mix of studios, 1, 2, and 3-bedroom residences averaging 618 square feet.

Towers on Main delivers consistent operational performance with 90% occupancy—a direct result of the property's compelling affordability and strong appeal to workforce renters in one of the Intermountain West's fastest growing urban cores. The asset's strategic South Salt Lake location offers immediate freeway access to both Interstate 15 and Interstate 80, placing residents within minutes of downtown Salt Lake City's employment centers, the University of Utah, Salt Lake International Airport, and premier lifestyle destinations across the Wasatch Front. With a 17.3% rent-to-income ratio, the submarket's exceptional affordability provides significant runway for rental growth while maintaining the property's competitive edge and quality-of-life proposition.

Towers on Main presents a unique investment thesis that appeals to both value-add investors and affordable housing converters. For value-add buyers, the Property offers the ability to capitalize on below-market rents, implement interior and exterior upgrades, and capture meaningful upside in a market supported by transformational redevelopment catalysts and strong demographic tailwinds.

For mission-driven affordable housing investors, the Property’s location within a HUD-designated Qualified Census Tract (QCT) adds meaningful long-term flexibility to the investment thesis. This combination of operational stability, repositioning potential, and locational designation positions Towers on Main as one of the most flexible and compelling investment opportunities in the Salt Lake City market.

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