Four-Unit Multifamily
For Sale
$575,000
1575 S HIGHWAY 89, Perry, UT 84302
Residential, Perry, UT
Property Size3,392 SF
Lot Size0.45 Acres
Price / SF$169.52
Days on Market63
Property Features for 1575 S HIGHWAY 89
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Multi-Family, Commercial
Bedrooms
3
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 1, Bathroom 4, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 3
Parking
10
Parking features
Covered
Lot features
Curb & Gutter, View: Mountain, View: Valley
View
Valley
Elementary school
Three Mile Creek
Middle school
Adele C. Young
High school
Box Elder
Elementary school district
Box Elder
Middle school district
Box Elder
High school district
Box Elder
Subdivision
Brigham City; Perry; Mantua
Standard status
Active
APN
03-142-0048
Size
3,392 SF
Lot size
0.45 Acres
Taxes and HOA fees
Tax Annual Amount
3434
Utilities
Heating system
Forced Air
Building Details
Year built
1977
Floors in Building
2
Number of units
4
Flooring type
Carpet, Tile, Laminate
Building materials
Brick, Composition
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Equity Real Estate
(385) 399-8719
Listed By:
Malone Molgard
(435) 730-1752
Added: Jun 29
Changed: Aug 28
Last Checked: Aug 30 at 8:06AM
MLS# 2171532
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 3,392-square-foot quadplex was built in 1977 and is being offered in as-is condition. The property includes three residential units currently occupied by month-to-month tenants, while the fourth unit has been used as a commercial office. The building features brick and composition construction, forced-air heating, covered parking, and a mix of carpet, tile, and laminate flooring. The lower-level residential unit does not have washer and dryer hookups.
The property occupies 0.45 acres at 1575 S HIGHWAY 89 in Perry, Utah, with open space behind the building. Zoning is identified as Multi-Family, Commercial. The two upper-level units have parking areas at the rear of the property, and the asset includes an asphalt roof.
The property occupies 0.45 acres at 1575 S HIGHWAY 89 in Perry, Utah, with open space behind the building. Zoning is identified as Multi-Family, Commercial. The two upper-level units have parking areas at the rear of the property, and the asset includes an asphalt roof.
Key Highlights
- 3,392‑square‑foot quadplex on a 0.45‑acre parcel
- Three residential units occupied by month‑to‑month tenants
- Fourth unit currently used as a commercial office
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
$33,486
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
5.82%
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%
$669,720
$669.7K
Cap Rate 7%
$478,371
$478.4K
Cap Rate 9%
$372,067
$372.1K
Market Conditions
NOI Build-Up for 3,392 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
$50.9K $15.00/SF
− Vacancy
−$3.0K −$0.90/SF
EGI
$47.8K $14.10/SF
− OpEx
−$14.4K −$4.23/SF
NOI
$33.5K $9.87/SF
Area
Box Elder County, UT
Vacancy
5.98%
Lease Rate
$15.00 /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%
$669,720
Cap Rate 7%
$478,371
Cap Rate 9%
$372,067
Alternative Uses
Best Use
Multifamily LT 5
$478.4K
$418.6K – $558.1K
NOI $33,486 @ 7.0% cap · market cap 5.82%
Second Best
Apartment 5plus
$440.5K
$385.5K – $513.9K
NOI $30,836 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$880.9K
$770.8K – $1.03M
NOI $61,661 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
Explore this area
Business Placement
Demographics for 84302, UT
26,564
Population
9,355
Households
2.8
Avg Household Size
34
Median Age
30%
College-Educated
93%
High-School Grad
79.5 sq mi
ZIP Area
334
Density / Sq Mi
$75,247
Median Household Income
$39,468
Median Earnings
$957
Median Rent
$343,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Brick fourplex on a spacious parcel with three occupied residential units and a separate office-use unit.
Where is this quadplex located?
The property is located at 1575 S HIGHWAY 89 Perry, UT.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 3,392‑square‑foot quadplex on a 0.45‑acre parcel; Three residential units occupied by month‑to‑month tenants; Fourth unit currently used as a commercial office
