Townhouse-Style
For Sale
$850,000
1215 E GORDON Ave, Layton, UT 84040
Residential, Layton, UT
Property Size3,960 SF
Lot Size0.23 Acres
Price / SF$214.65
Days on Market48
Property Features for 1215 E GORDON Ave
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Multi-Family
Bedrooms
8
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 3, Bathroom 4, Bedroom 6, Bedroom 3, Bedroom 8, Bathroom 1, Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 6, Bathroom 5, Bedroom 7
Parking
4
Parking features
Covered
Elementary school
King
Middle school
Central Davis
High school
Layton
Elementary school district
Davis
Middle school district
Davis
High school district
Davis
Subdivision
Kaysville; Fruit Heights; Layton
Standard status
Active
APN
10-003-0002
Size
3,960 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Annual Amount
4265
Utilities
Heating system
Natural Gas, Central
Amenities
private storage shed
washer/dryer hookups
central heating
evaporative cooling
Building Details
Year built
1971
Floors in Building
2
Number of units
4
Flooring type
Laminate, Carpet, Tile
Architectural style
Other
Listing Agency:
Rock Canyon Real Estate LLC
(801) 318-4483
Listed By:
Joshua Spackman · License #10763735
(385) 309-7824
Added: Jul 28
Changed: Sep 13
Last Checked: Sep 13 at 9:06AM
MLS# 2175574
Copyright © 2026 UtahRealEstate.com. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,960-square-foot fourplex contains four townhouse-style units, each arranged with 2 bedrooms and 1.5 bathrooms. The design places no unit above or below another, providing added separation between residences. Individual features include washer and dryer hookups, central heating, evaporative cooling, a covered carport, and a private storage shed. Several units have laminate flooring and updated tub and shower surrounds, with additional tile and carpet flooring present across the property.
Built in 1971 on 0.23 acres, the property is zoned Multi-Family and is positioned in East Layton with access to Highway 89, shopping, schools, and major employers. An adjacent fourplex is also identified as an option for acquisition, creating a potential eight-unit assemblage.
Built in 1971 on 0.23 acres, the property is zoned Multi-Family and is positioned in East Layton with access to Highway 89, shopping, schools, and major employers. An adjacent fourplex is also identified as an option for acquisition, creating a potential eight-unit assemblage.
Key Highlights
- Four‑unit townhouse‑style property with 2 bedrooms and 1.5 bathrooms per unit
- 3,960 square feet on 0.23 acres; built in 1971
- Each unit includes a covered carport and private storage shed
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$48,618
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.72%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$972,360
$972.4K
Cap Rate 7%
$694,543
$694.5K
Cap Rate 9%
$540,200
$540.2K
Market Conditions
NOI Build-Up for 3,960 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$76.7K $19.38/SF
− Vacancy
−$7.3K −$1.84/SF
EGI
$69.5K $17.54/SF
− OpEx
−$20.8K −$5.26/SF
NOI
$48.6K $12.28/SF
Area
Davis County, UT
Vacancy
9.50%
Lease Rate
$19.38 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$972,360
Cap Rate 7%
$694,543
Cap Rate 9%
$540,200
Alternative Uses
Best Use
Multifamily LT 5
$694.5K
$607.7K – $810.3K
NOI $48,618 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$643.5K
$563.1K – $750.8K
NOI $45,045 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$914.6K
$800.3K – $1.07M
NOI $64,022 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
Explore this area
Business Placement
Demographics for 84040, UT
26,687
Population
9,454
Households
2.8
Avg Household Size
35
Median Age
46%
College-Educated
97%
High-School Grad
24.2 sq mi
ZIP Area
1,103
Density / Sq Mi
$123,297
Median Household Income
$55,607
Median Earnings
$1,796
Median Rent
$486,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four private two-bedroom units feature covered parking, storage sheds, central heat, and evaporative cooling.
Where is this quadplex located?
The property is located at 1215 E GORDON Ave Layton, UT.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Four‑unit townhouse‑style property with 2 bedrooms and 1.5 bathrooms per unit; 3,960 square feet on 0.23 acres; built in 1971; Each unit includes a covered carport and private storage shed
