4-Unit Multifamily
New
For Sale
$1,095,000
232 N 250 E, Orem, UT 84057
Residential, Orem, UT
Property Size4,160 SF
Lot Size0.23 Acres
Price / SF$263.22
Days on Market4
Property Features for 232 N 250 E
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Multi-Family
Zoning description
MULTI
Bedrooms
8
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 8, Bathroom 6, Bedroom 4, Bathroom 1, Bedroom 5, Bathroom 3, Bathroom 4, Bathroom 5, Bathroom 2, Bedroom 2, Bedroom 7, Bedroom 6, Bedroom 1, Bedroom 3
Parking
8
Parking features
Covered
Window features
Blinds
Exterior features
Double Pane Windows
Subdivision
NORTH VIEW
Lot features
Curb & Gutter, Fenced: Part, Road: Paved, Sidewalks, Sprinkler: Auto- Part, View: Mountain
Elementary school
Sharon
Middle school
Canyon View
High school
Orem
Elementary school district
Alpine
Middle school district
Alpine
High school district
Alpine
Standard status
Active
APN
47-037-0002
Size
4,160 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Annual Amount
3969
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air, Central
Building Details
Year built
1969
Floors in Building
2
Number of units
4
Building materials
Brick, Frame
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Selling Salt Lake
(801) 998-8568
Listed By:
Kian Torimi
(801) 792-2010
Added: Oct 3
Changed: Oct 6
Last Checked: Oct 6 at 12:06PM
MLS# 2189188
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.
Built in 1969, this 4,160-square-foot multifamily property contains four apartments, each with two bedrooms and one and a half bathrooms. The 0.23-acre parcel is zoned Multi-Family. Three units have updated kitchens and interiors, including quartz countertops, farmhouse sinks, new appliances, LVP flooring, lighting and paint. The remaining apartment retains its original finishes.
Building improvements include a replacement furnace and water heater, electrical and plumbing updates, and refreshed landscaping. Each apartment has its own gas meter, power meter, water heater and air conditioning; tenants pay their own gas and electricity. All four units are occupied under month-to-month agreements. The property also has eight off-street parking spaces.
Building improvements include a replacement furnace and water heater, electrical and plumbing updates, and refreshed landscaping. Each apartment has its own gas meter, power meter, water heater and air conditioning; tenants pay their own gas and electricity. All four units are occupied under month-to-month agreements. The property also has eight off-street parking spaces.
Key Highlights
- Four apartments, each with 2 bedrooms and 1.5 bathrooms
- 4,160 square feet on a 0.23‑acre lot
- Three units updated with quartz counters, farmhouse sinks, new appliances and LVP flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,377
Cap Rate
3.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$767,540
$767.5K
Cap Rate 7%
$548,243
$548.2K
Cap Rate 9%
$426,411
$426.4K
Market Conditions
NOI Build-Up for 4,160 SF
Gross rent
$57.4K $13.80/SF
− Vacancy
−$2.6K −$0.62/SF
EGI
$54.8K $13.18/SF
− OpEx
−$16.4K −$3.95/SF
NOI
$38.4K $9.23/SF
Area
Utah County, UT
Vacancy
4.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$767,540
Cap Rate 7%
$548,243
Cap Rate 9%
$426,411
Alternative Uses
Best Use
Multifamily LT 5
$548.2K
$479.7K – $639.6K
NOI $38,377 @ 7.0% cap · market cap 3.50%
Second Best
Apartment 5plus
$504.1K
$441.1K – $588.1K
NOI $35,286 @ 7.0% cap · market cap 3.22%
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,271 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,232
Businesses Nearby
Explore this area
Business Placement
Demographics for 84057, UT
38,401
Population
12,246
Households
3.1
Avg Household Size
29
Median Age
39%
College-Educated
93%
High-School Grad
6.2 sq mi
ZIP Area
6,194
Density / Sq Mi
$80,184
Median Household Income
$36,429
Median Earnings
$1,408
Median Rent
$398,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - All four apartments are occupied on month-to-month terms, with separate gas and electric meters.
Where is this quadplex located?
The property is located at 232 N 250 E Orem, UT.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 1.5 bathrooms; 4,160 square feet on a 0.23‑acre lot; Three units updated with quartz counters, farmhouse sinks, new appliances and LVP flooring
