Clicking the link above opens up a spreadsheet that I created for one of the downtown Condominium Home Owners Associations. (HOA) They were interested in comparing the fees and what they cover of other associations. Not all condominium projects are listed in this spreadsheet, but many of those downtown are included.
If you are moving from a house to a condominium you will probably discover that the costs add up to be quite similar to what you are now paying.
Benefits that you can’t really monetize is the convenience of not having to maintain a home; yard work, snow removal, building maintenance, etc. You do give up total control which led to an article, “Welcome To The Condominium Project”.
Garden Towers is seen in the drone shot at the vey bottom. It is about 38 units. The owners manage it themselves. Notice on the roof is the garden. On each corner is a Bar B Q. It has a gazebo and several places to just hang out. The roof can be reserved. Their is a variety of units and floor plans and some are terrific.
Canyon Road Towers is to the right in the photo. It is larger, 185 units, and very popular. It has an indoor swim pool and exercise room. It has two social rooms. It has tennis courts. It is well managed. Some of the units are in original condition and some are remodeled. Some of the views are spectacular.
Zion Summit is directly north of temple square, two towers behind the LDS conference center. The swim pool is outdoors. It has a large entry which invites socializing. Zion Summit seems to encourage socializing, even has a social committee.
All three of the buildings are popular for the easy access to temple square and City Creek Mall.
American Towers, South of City Creek, is very popular with those that are wanting a downtown city feel. Theaters are next to it as well as great places for eating out. Its rooftops are a great place to entertain and hot tub with a view. It is large enough to afford full time security. It has racquetball courts.
Terrace Falls is on 3rd Ave directly behind Garden Towers. The facility has a shop to die for. Some of the floor plans are great for people wanting two master bedrooms. Terrace Falls is a terrific property.
Trevi Towers abuts Zion Summit. Most of the floor plans are large and the units facing South have wonderful views. It has an indoor pool.
This website has great search engine. I invite you to search in the search bar or to take advantage of the quick and useful links searches which I have established. Some are by building and some by location. I enjoyed it when one of my colleagues called me “the condo king”. I have sold condos from North Ogden to Daybreak. Selling condos is not like selling houses. I you to encourage you to choose me in helping you buy or sell a condo.
This link goes to the category that pulls up all of the articles I have written about condos: click here.
Featured Home Of The Month – May 2018 123 E 2nd Ave #401 downtown Salt Lake City, Utah. Canyon Road Towers. In addition to the number of bedrooms, this corner 3 bedroom condo has the two most important features when it comes to price and popularity; great condition and view. Location helps the value but when comparing units within a building, especially an older building, these two things can make a huge difference in value.
Canyon Road Towers was built in 1976 as was Zion Summit. Many, should I say most, are in original or near original condition. I have seen people have to spend over $100,000 to upgrade one of these condominiums. Many have spent less but $50,000 to $80,000 is typical.
This featured home of the month for May has been nicely updated. The fireplace is rally quite unusual and quite nice. It is in great condition.
The view is surprising for being on the 4th floor. It is a corner unit, facing West and North. The view is the setting to the West. Some may say the higher the better. In this case you can be sitting on a couch with a beautiful setting to see the park and Temple Square. I refer the West view on both 4th and 5th floor units as the setting. I actually prefer these views to those on the higher floors, even the 13th floor. Yes, they are higher up but the higher ups miss the setting.
To the North the view is to the Capitol. A home is in this view but at night the Capitol building lights up and is just great.
The parking stall for this unit is indoors and one flight of stairs down. (3rd floor parking level). It’s real close to the door you exit this floor, easy and convenient. The storage unit is just a few steps from your parking stall.
Aha, you can walk through the condo on line. Here is a link to a 360 Matterport tour click here.
This tour will save you time, if you like it on line you will love the visit. If you don’t like it online, you won’t waste time with an unnecessary visit.
It is rented until the end of July for $1850.00 per month. The tenants are very cooperative. I do need an appointment to show it.
How Many Condo Parking Stalls Do You Need, And Why Would You Need Them? How Many Condo Parking Stalls Do You Need?
How Many Condo Parking Stalls Do You Need? This lady has three parking stalls. How Many Condo Parking Stalls Do You Need, And Why Would You Need Them? Does she have three because she needs the space? Note the storage units on both sides. No one is likely to ding her car when loading or unloading storage are they? Her car is in nice shape, so that’s a good reason, right? Maybe she just likes it this way. May we call this reason 1
Mind you purchasing an extra stall in a condominium building can be a difficult quest, in some buildings a costly one. In American Towers you can only own one stall but it’s easy to rent one. That may work. In both Canyon Road Towers and Zion Summit each unit has one parking space attached to the original condo declarations. You can find them on line at their website. Both of these buildings have several extra stalls with actual tax ID numbers. Where those in the original declarations cannot be legally transferred to another person, the deeded ones can be sold to another owner of those buildings. What should they sell for I am often asked? The answer is that depends. One answer I usually give is don’t sell. With that advice being rejected a few times I have seen them go from $5,000 to $50,000. In one building Kathleen and I lived in we paid $25,000 for an extra stall.
Why do I say “don’t sell”? Having sold a lot of condo’s, lived in 5 in our married life, and having showed many times more than I have sold I am confident that you greatly reduce the numbers of people that would by your condominium should you not have that extra parking stall. There are in fact numerous potential buyers where having one stall is the only reason they won’t buy your unit. (It’s very much like those whose dog is part of the family and your building doesn’t allow pets.)
Resale value then becomes the biggest reason to have a second stall after your own need should you need it for your own use. Having plenty of room to park your car, well that might be listed as number three.
Larry Cragun – Windermere Real Estate
Residential and Condominium professional.
Six Popular Downtown Salt Lake City Condominiums. There are more and I have links to many on this site and more coming. But I call these the “big six” because I find them the most popular with my buyers.
I number these on the map from 1 to 6 and they are as follows:
- Zion Summit
- Canyon Road Towers
- American Towers
- Trevi Towers
- 3 City Creek Properties
- Parc Gateway
Two additional good options on smaller buildings is 1- Terrace Falls is on the street behind Canyon Road Towers, (on 3rd ave) and is also a good option. Click here for info and search on Terrace Falls: Terrace Falls – 158 E 3rd Ave – Click Here
and 2- Garden Towers which is next to Canyon Road Towers: Click here Garden Towers – 141 E 2nd Ave – Click Here
Below the photo are links to commentary and the ability to quickly search for listings that are currently for sale in these properties. When clicking those links the search results will possibly include nearby condos of similar details.
- Zion Summit Zion Summit – 241 N Vine St – Click Here
- Canyon Road Towers – Canyon Road Towers – 123 E 2nd Ave – Click Here
- American Towers – American Towers – 44 W 300 South – Click Here to search
- Trevi Towers – Trevi Towers – 245 N Vine – Click Here To Search
- 3 City Creek Properties – City Creek 3 Properties – In City Creek shopping center. – click here
- Parc Gateway – 5 S 500 W – Click Here To Search –
Canyon Road Towers A Downtown Salt Lake Condo
One of downtown Salt lake City’s Condominium’s that is very popular is Canyon Road Towers. Built in 1976 it still has residents that were original to the building. The mix of residents is eclectic with many newly wed living here. I live in Canyon Road Towers and appreciate the residents that live here. they are mostly professional or retired professionals. A few are recent graduates of the University of Utah. I find my neighbors friendly and welcoming.
Currently 3/28/18 there are 3 units for sale in Canyon Road Towers:
- #710 for $350,000. A very nicely updated unit. One of the smaller versions of floor plans but a corner unit giving it a more spacious feeling. The view is to the North and East.
- #409 for $399,000. A 3 BR corner unit facing South and East. This needs much updating, not a total redo.
- #401 for $450,000. The most popular corner 3 bedroom facing West and North. This condo has been updated.
It’s close in location, near Temple Square and City Creek make it walkable in Salt Lake. Most shop at either Harmon’s of City Creek of Smiths in The Avenues.
Just up Canyon Road is the beautiful memory grove which local residents of The Avenues annually have a cleanup event that is well attended. This is a popular walking pedestrian park with ponds you sometimes see dogs cavorting and playing catch the stick with their owners.
Canyon Road Towers is at the West end of The Avenues and residents are encourage to attend and participate in the monthly community association meetings.
The neighborhood is inviting with City Creek Park and Brigham Young historic park abutting the tower. Views are evident from almost every unit, some looking to the beautiful Capitol view, some overlooking Temple Square and some with the city to the South.
The building has good amenities. There are two social rooms that can be reserved. The one below is a fairly recent remodel and is on the right as you enter the building. The pool you see below is long enough for the lap swimmer. There is a hot tub and sauna. There is a onsite tennis court. There is a tennis table room off the second social room. There is also a room with a billiard table. The third photo below is the entry.
Animals are not allowed and there is a rental cap of 25% maximum rented. The cap is currently near the maxim allowed.
The building is well managed, is managed professionally, with two full time employees maintaining the property. In the morning there is an onsite employee in the office off of the lobby. The building is secure.
At the time of writing this article there are two units listed for sale with one pending sale. The pending sale was only on the market two days.
The unit mix is from one to three bedrooms. The three bedrooms rarely come on the market. One three bedroom is being remodeled in preparation of being sold. The unit sizes range from about 920 square feet to 1300 square feet.
Many of the units have not been remodeled. I know this building well, have lived in it for three years. I see people loving it here as do my wife and I. We see people moving within the building to different units.
Home owners dues cover more than most in that they pay for all of the utilities, basic cable, and the normal maintenance condominiums must incur.
The zip code for this area is 84103. Come and take a look if you are in the under $300,000 price range.
Windermere Real Estate
801-923-4765 URL of Map
What Sets The Values In Canyon Road Towers? This question is relevant to most condominiums, especially high rise condominiums.Values In Canyon Road Towers is an important topic.
Canyon Road towers to the left – Zion Summit below
1- The common real estate phrase is location – location – location, I insert view -view – view. That definitely applies to condos. Condominiums in downtown Salt Lake City go for more than a similar condo away from town. Location is applicable within Canyon Road Towers. It is one of four factors that affect values. Units in Canyon Road Towers fact North, South, and West. There are corner units, some fast two directions as well. To the South the view is of the city. To the West the view is to parks, the west city, and Temple Square. To the North is to the Capitol. Most people feel the North view is the least desirable. I might say that this is a similar paradigm to Zion Summit regarding view. The better the view, the more it will cost.
2- Condition is a big issue. Canyon Road Towers, and again also, Zion Summit were built in 1976. The word for many units is DATED. Old looking kitchen cabinet are a yuk. Re-facing the originals, not a great upgrade. As of this writing a condo is on the market that is in the best condition of any to be sold in the last few years. It’s asking price is $317,500 (unit 813 listing # 1505034) . Click here for Canyon Road Towers Listing. This link will take you to all current Canyon Road Towers units on the market. It will show up in this link as long as it is for sale. The interior photos will help you get the point on the condition. Note: it might be hard to discern between the common area photos and those of the condo.
This unit is likely to sell close to its asking price because of the condition. To compare, a similar unit sold for $235,000 18 months ago. (same view and same floor plan. Yes it was 8 months ago, but the difference in condition was significant.
3- Size of kitchen. This as well as numerous units in Canyon Road Towers have the narrow galley kitchen. Not every buyer will accept that. The photos provided kind of downplay the galley look.
4- Size of unit. I showed listing #1505034 to a couple who have been tracking every condo for sale in Canyon Road Towers for about a year. Finally they loved the condition of the condo. After an hour in viewing the unit they decided that it was too small.
There are basically 4 floor plans in Canyon Road Towers. The majority are 2 bedrooms. All have at least that and all have two bathrooms. The value in the larger units is significant.
I am a large producing condo agent for both buyers and sellers. My website shows 20 example listing for sale and past sales. I am familiar with almost every condo property in Salt Lake City. I strive to be the type of non pushy, expert, and full service agent. I will be glad to assist you with any questions that you may have.
To all Canyon Road Towers current listings, click here.
Larry K Cragun – Windermere Real Estate
Residential and Condominium Professional.
Recently two appraisers have called me with this question, “how did you get that high price”?
One query was on a Canyon Road Towers listing and the other was in Zion Summit. High Price
It is factual that a sellers agent has the responsibility to follow the instructions of his or her sellers. Of course that means instructions that are legal and ethical. In most cases sellers want the most they can get for their homes. The exception might be to instruct the agent to price it so it sells fast.
The two units that are the subject of this post were where the sellers wanted top dollar. I got that for them.
So to the Zion Summit question; we just closed at $19,000 more than the same condo 4 floors down is on the market for. It is $10,000 cheaper than a unit on the same floor, remodeled nicely, and still for sale. How do we do it? The answer has three parts. 1- I believed the view was better than the condo on the same floor, even better than the unit $19,000 cheaper. 2- My listing had two parking stalls. I understood the value of the second parking stall. The actual buyer in his negotiations claimed the second stall was only worth $5,000. I inquired of the HOA onsite manager what stalls in Zion Summit were going for and he gave me the $5,000 figure. I assumed than that is where the buyer got this number. The fact is parking stalls to some people are worth much much more money. For example, people in Canyon Road Towers have paid as low as $5,000 for a stall, That hasn’t happened recently. There is a resident of Canyon Road Towers offering $12,500 for an extra stall and he has no takers. (In both of these buildings there are stalls included in the deed and some extra stalls that can be bought and sold.) There are buildings in Salt Lake City where buying a parking stall for $12,500 would be considered a steal. Kathleen and I paid $25,000 for an extra stall in our condo in Issaquah, Washington. 3- One of my talents is being able to recognize buying signals. There were a couple of them with this buyer. First, when I showed his wife both units for sale on the floor I could tell she like the other agents listing better. Why didn’t they offer on that unit I asked him? I concluded he wanted my listing, either for the extra stall, the location, or the better view. I look for buying signals and this one had my listing written all over it. We did come down from our original asking price, actually dropped down in negotiations three times, but the final price was the right price and as this appraiser queried, it seemed to him to be confusingly high.
In the Canyon Road Towers querie I understood the value of a remodel. This unit was extremely appealing. Many of the downtown condos need updating. This one did not. I was lucky enough to have the appraiser contact me for access. I told him how much money the seller had put into the remodel. I offered receipts for the work which he didn’t want. He did give us the value.
I take serious my role, am I a buyers agent or a sellers agent? Am I a dual agent where I cannot work against either side. Whatever your need, I understand agency and act accordingly.
Larry Cragun Windermere Real Estate
Residential and Condominium Professional
Canyon Road Towers or Zion Summit In Salt Lake City, Utah
To many buyers it boils down to choosing between Canyon Road Towers or Zion Summit. This post is to explain why and what the differences plus or minus in the two buildings. Note that both Canyon Road Towers and Zion Summit were built in 1 976. Both have similar HOA costs. Both cover all the utilities including basic cable. The exception is that you pay your own heating in Zion Summit. Canyon Road Towers Zion Summit Salt Lake City, Utah
What makes Zion Summit and Canyon Road Towers the choice for many is the location and the average sales prices. The location is ideal for those who want to be near Temple Square or City Creek. This is what drives most sales in these two buildings. Most of the prices are under $300,000 in both buildings. There are exceptions. Many are in the mid $200,000 range.
Some of the major differences are:
The views: in most cases, but not all, the views are more spectacular in Zion Summit. There are exceptions as some of the Zion Summit views are not superior and some of the Canyon Road Towers views are spectacular.
Usually a + for Zion Summit.
Unit Size: This varies, mostly in Canyon Road Towers. Some of the Canyon Road Towers units are under 1000 square feet. If you are OK with a 1 bedroom Zion Summit units are about 1200 square feet, usually the largest one bedrooms on the market in downtown Salt Lake City. Canyon Road Towers is unique with some three bedroom units. They rarely come up and there will be a feeding frenzy for the next one. Zion Summit has a small percent of two bedrooms, corners, one is currently on the market. I would say on this factor, check out both buildings, the plus would go to what is currently for sale.
Washer Dryer availability is a factor. In Zion Summit each floor shares a washer dryer. They are kept in good condition and they are not coin operated. All Canyon Road Towers units have Washer Dryer hookups in the units, the smaller floor plan needs stack ables. A + to Canyon Road Towers.
Walk ability: Both are close to Temple Square and City Creek Mall. Some don’t like the uphill walk to Zion Summit. Some like the exercise. + or – you decide.
Social Experience: Zion Summit has a social committee. There is something going on each week, be it a movie or another event. There is an expert genealogist living there who offers free help and training on a regular basis each week. Possibly a + for Zion.
Social Rooms: Both have nice facilities.
Swim Pool: Both have a pool and hot tub. The Canyon Road Towers pool is indoors and large enough to swim laps. + for CRT.
Upkeep: Both buildings are well maintained. Some feel the lobby in Zion Summit to be in need of updating. They are working on plans to do so. It’s big and cost is an issue.
Exercise Room. Both have equipment. I would say that Canyon Road Towers is superior and a budget to upgrade it is in place. + to Canyon Road Towers.
Sauna. Both have this in the rest rooms.
Parking. Both have secure inside in the building parking. Canyon Road Towers has indoor guest parking that seems very adequate. Equal to a plus for Canyon Road Towers because of the guest parking. Both have some extra stalls that people own and can sell. This rare event has brought the price for an extra stall up to as much as $15,000.00. Guest parking for Zion Summit is outside and across the street. It is sometimes full. Guests in Canyon Road Towers can park for a maximum of two weeks.
Storage: Each unit in both buildings has assigned storage.
Both buildings are in transition as to the age mix. Owners in both buildings have loved it there and resist leaving. Some were owners in 1976 or shortly after.
Currently I have listings in both buildings. I can gladly assist your hunt for the right place.
NOTE: Quick Searches are also available in the “properties” drop down in the menu bar.
Often additional Close by properties appear in the search results.
American Towers – 44 W 300 South – Click Here to search
Belvedere – 29 S state – Search Click Here
Broadway Tower – 230 E Broadway – Search Click Here
Canyon Road Towers – 123 E 2nd Ave – Click Here
City Creek 3 Properties – Built around city creek shopping center. – click here
City Crest – 131 E 1st Ave – Click here
Garden Towers – 141 E 2nd Ave – Click Here
Metro Condominiums – 350 S 200 E 84111 Click Here
Panorama – 8 E Hillside Ave – (near Zion Summit) – Click Here To Search
Rockwell – 141 E 1st Ave – Click Here To Search
Terrace Falls – 158 E 3rd Ave – Click Here
Trevi Towers – 245 N Vine – Click Here To Search
Uffens Marketplace – 336 W Broadway – Click Here To Quick Search
Zion Summit – 241 N Vine St – Click Here
Not Quite Downtown but Convenient
Often additional Close by properties appear in the search results.
Angelina’s Corner – 725 S 1100 E – Click Here
Arlington Place – 105 S 2200 E – Click here
Aztec – 515 S 1000 E – Click Here
Belmont Condos – 150 E Belmont Ave, Salt Lake City, UT 84107 – CLICK HERE
Market Street Condos
One and Nine – 88 900 E, Salt Lake City, UT 84102 CLICK HERE
Parc Gateway – 5 S 500 W, Salt Lake City, UT 84101 – CLICK HERE
Towne Park – 339 E 600 S –
Trolley Regent – Click Here About Trolley Regent