Buying In Millcreek, UT
Sell Your Commercial Property In Millcreek, UT
Skyline Capital Investments buys commercial apartment buildings of 5+ units in Millcreek and across Salt Lake County — listed or off-market, stabilized or value-add. Get clear feedback on your deal, typically within 48 hours.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
Where We Look: East Millcreek · Canyon Rim · Olympus · Holladay — Salt Lake County, UT
The Millcreek Market
What Drives Rentals In Millcreek
Millcreek, UT is a Salt Lake County city of 63,648 residents, incorporated on December 28, 2016, per the city's own history page. Renters hold 38.6% of Millcreek's 25,920 occupied homes, and median gross rent is $1,492 a month under ACS 2020-2024 estimates. Buildings of five or more units make up 28.7% of Millcreek's housing, above Salt Lake County's 23.3% share. Millcreek's main tax area carries a 2025 final rate of 0.011176. Owners who want to sell commercial property in Millcreek, UT can start with the data below.
St. Mark's Hospital
St. Mark's Hospital is a 308-bed facility inside Millcreek, serving the area since the 1870s, per MountainStar's history page.Millcreek Common town center
Millcreek Common is a four-acre open space funded partly by a $20 million municipal bond repaid over 20 years.Downtown SLC and U of Utah commute
Millcreek's mean travel time to work is 20.6 minutes, per ACS 2020-2024 estimates, with downtown Salt Lake City nearby.Our Buy Box
What We Buy In Millcreek
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
Local Market Data
Millcreek Apartment Market
Figures gathered October 2026 from public market data.
Who rents in Millcreek
Renters occupy 38.6% of Millcreek's 25,920 occupied homes, or 10,003 households, per Census ACS 2020-2024 tenure estimates. Buildings of five or more units hold 28.7% of Millcreek's 28,104 homes, above Salt Lake County's 23.3% share, per ACS units-in-structure data. Millcreek's median year built is 1973, and 62.2% of its homes predate 1980.
Rents and affordability in Millcreek
Median gross rent in Millcreek is $1,492 a month under ACS 2020-2024 estimates, below Salt Lake County's $1,592. Anyone ready to sell commercial property in Millcreek, UT should note that 46.6% of renter households pay 30% or more of income on rent, with 21.8% paying half or more, per ACS table B25070.
| Unit size | HUD FMR FY2027 |
|---|---|
| Efficiency | $1,202 |
| 1 bedroom | $1,349 |
| 2 bedroom | $1,615 |
| 3 bedroom | $2,143 |
| 4 bedroom | $2,439 |
Under HUD fair market rents for FY2027, the Salt Lake City, UT HUD Metro FMR Area prices a two-bedroom at $1,615, above Millcreek's own median.
Property taxes in Salt Lake County
Millcreek's main tax area carries a 2025 final adopted rate of 0.011176, per the Utah State Tax Commission's 2025 Tax Rates by Tax Area, so a $2,000,000 building taxed at full value owes $22,352 a year. Utah Code 59-2-103(6)(b)(ii) extends the state's 45% residential exemption to each unit that is a tenant's primary residence, cutting that building's taxable value to $1,100,000 and its bill to $12,293.60, a $10,058.40 difference, and owners who sell commercial real estate in Millcreek, UT should run both numbers. Appeals to the Salt Lake County Board of Equalization are due by September 15 or 45 days after the valuation notice, under Utah Code 59-2-1004.
Landlord rules in Millcreek
Utah Code 57-20-1 bars Millcreek and Salt Lake County from capping rents or fees without the Legislature's express approval. Deposit balances and itemized deductions are due within 30 days of move-out under Utah Code 57-17-3. Nonpayment notices run three business days, and month-to-month tenancies end on 15 calendar days' notice, under Utah Code 78B-6-802.
What this means for a Millcreek owner
Millcreek pairs a 28.7% apartment share with St. Mark's Hospital's 308 beds and a 20.6-minute mean commute to downtown Salt Lake City and the University of Utah, per ACS 2020-2024 commuting estimates. Owners ready to sell commercial property in Millcreek, UT can check the math on our cap rate calculator; Skyline Capital Investments buys 5+ unit buildings here, and owners who want to sell your apartment building in Millcreek can read our seller page first.
Seller Notes
What Shapes A Millcreek Offer
More about selling in Utah →Investing in Millcreek? See apartment syndications in Millcreek →
- Owners who sell commercial real estate in Millcreek, UT should confirm Salt Lake County's 2025 tax area rate.
- Owners who sell multifamily property in Millcreek should apply the 45% tenant-residence exemption to their tax estimate first.
- Millcreek's rental vacancy was 9.0% in ACS 2020-2024, with a 2.5-point margin of error.
Seller Guides
Selling In Millcreek? Common Situations We Handle
Learn More
Taxes & Rules For Millcreek Property
The Utah rules that shape any deal in Millcreek: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Millcreek Seller FAQ
What should I know before I sell commercial property in Millcreek, UT?
Start with supply and tax. Buildings of five or more units hold 28.7% of Millcreek's housing, and the 2025 final tax rate in Millcreek's main tax area is 0.011176. A $2,000,000 building owes $22,352 at full value, or $12,293.60 with the 45% exemption.
What does it cost to sell commercial real estate in Millcreek, UT?
Property tax is the main carrying cost. At Millcreek's 2025 rate of 0.011176, a $2,000,000 building owes $22,352 a year on full value, falling to $12,293.60 if every unit qualifies for the 45% residential exemption under Utah Code 59-2-103.
What is the average rent in Millcreek, UT?
Census ACS 2020-2024 estimates put Millcreek's median gross rent at $1,492 a month, below Salt Lake County's $1,592. HUD's FY2027 fair market rent for a two-bedroom in the Salt Lake City, UT HUD Metro FMR Area is $1,615, close to the city median.
Does Millcreek have rent control?
No. Utah Code 57-20-1 bars Millcreek and every Utah city or county from enacting an ordinance that controls rents or fees on private residential property without the Legislature's express approval, so Millcreek leases follow the open market.
How much apartment stock does Millcreek have?
Buildings of five or more units hold 8,073 of Millcreek's 28,104 housing units, or 28.7%, per ACS 2020-2024 estimates, above Salt Lake County's 23.3% share. Owners selling commercial property in Millcreek should use that supply figure when pricing a building.
What if my Millcreek building has vacancies or deferred maintenance?
That is often where we add the most value. We buy buildings that need renovation, new management, or lease-up, and we account for that in our offer.
Can I sell my Millcreek apartment building off-market?
Yes. We work directly with owners and through listing agents. Off-market conversations are confidential, and we coordinate tours so tenants and staff are not disrupted.
Who buys occupied rental property in Millcreek?
We do. Skyline Capital Investments is a commercial real estate buyer of 5+ unit multifamily, and we buy apartment buildings with tenants in place, including properties with below-market rents.
How fast can I sell my apartment building in Millcreek?
Most owners get clear feedback within 48 hours of sending the address, unit count, and a rent roll. Closing is typically set around your timeline, including extra time for a 1031 exchange.
Submit A Deal
Selling A Building In Millcreek?
Send the address, unit count, and asking price if you have one. We keep every conversation confidential.
