Fully Leased Duplex with Covered
For Sale
$495,000
2384 S DERBY St, West Valley City, UT 84119
Residential, West Valley City, UT
Property Size1,872 SF
Lot Size0.19 Acres
Price / SF$264.42
Days on Market24
Property Features for 2384 S DERBY St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi-Family
Zoning description
1208
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 1
Parking
10
Parking features
Covered
Window features
Blinds
Patio and Porch features
Patio
Exterior features
Lighting, Sliding Glass Doors, Patio: Open
Subdivision
RIVERSIDE
Lot features
Curb & Gutter, Fenced: Full, Sidewalks, Sprinkler: Auto- Full
Elementary school
Redwood
Middle school
Granite Park
High school
Granite Peaks
Elementary school district
Granite
Middle school district
Granite
High school district
Granite
Standard status
Active
APN
15-22-282-017
Size
1,872 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
2824
Utilities
Sewer type
Public Sewer
Heating system
Central, Forced Air, Natural Gas
Amenities
evaporative coolers
Building Details
Year built
1977
Number of units
2
Flooring type
Carpet, Tile
Building materials
Brick, Stucco
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Equity Real Estate
(800) 785-9995
Listed By:
Jeffrey Callahan
(801) 971-0131
Added: Jul 31
Changed: Aug 22
Last Checked: Aug 23 at 3:06PM
MLS# 2175721
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Investment Insights
Based on property information with market context.
This 1,872-square-foot duplex includes two residential units, each configured with two bedrooms and one bathroom. Both units are fully occupied, and the property is zoned Multi-Family. Built in 1977, the building combines brick and stucco construction with tile and carpet flooring, forced-air and central heating powered by natural gas, and brand-new evaporative coolers.
The 0.19-acre property includes covered parking, an open patio, sliding glass doors, exterior lighting, an asphalt roof, and public sewer service. Located in West Valley City near I-215 and Bangerter Highway, the property also sits within reach of shopping, dining, and major employment corridors. The address is 2384 S DERBY St, West Valley City, UT 84119.
The 0.19-acre property includes covered parking, an open patio, sliding glass doors, exterior lighting, an asphalt roof, and public sewer service. Located in West Valley City near I-215 and Bangerter Highway, the property also sits within reach of shopping, dining, and major employment corridors. The address is 2384 S DERBY St, West Valley City, UT 84119.
Key Highlights
- Two‑unit duplex with 1,872 square feet of property size
- Each unit includes 2 bedrooms and 1 bathroom
- Both units are fully occupied
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
$20,273
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
4.10%
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%
$405,460
$405.5K
Cap Rate 7%
$289,614
$289.6K
Cap Rate 9%
$225,256
$225.3K
Market Conditions
NOI Build-Up for 1,872 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
$30.3K $16.20/SF
− Vacancy
−$1.4K −$0.73/SF
EGI
$29.0K $15.47/SF
− OpEx
−$8.7K −$4.64/SF
NOI
$20.3K $10.83/SF
Area
West Valley City, UT
Vacancy
4.50%
Lease Rate
$16.20 /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%
$405,460
Cap Rate 7%
$289,614
Cap Rate 9%
$225,256
Alternative Uses
Best Use
Multifamily LT 5
$289.6K
$253.4K – $337.9K
NOI $20,273 @ 7.0% cap · market cap 4.10%
Second Best
Apartment 5plus
$261.4K
$228.7K – $305.0K
NOI $18,299 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$535.9K
$468.9K – $625.3K
NOI $37,515 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,072
Businesses Nearby
Explore this area
Business Placement
Demographics for 84119, UT
54,143
Population
16,811
Households
3.2
Avg Household Size
31
Median Age
16%
College-Educated
79%
High-School Grad
11.5 sq mi
ZIP Area
4,708
Density / Sq Mi
$66,616
Median Household Income
$35,676
Median Earnings
$1,418
Median Rent
$341,800
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?
Duplex - Two residential units offer two bedrooms and one bath apiece, with brand-new evaporative coolers and covered parking.
Where is this duplex located?
The property is located at 2384 S DERBY St West Valley City, UT.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,872 square feet of property size; Each unit includes 2 bedrooms and 1 bathroom; Both units are fully occupied
