All-Brick Quadplex with Renovated
For Sale
$799,900
385 N 1200 W, Salt Lake City, UT 84116
MULTI_FAMILY - Other - Salt Lake City, UT
Property Size3,350 SF
Lot Size0.26 Acres
Price / SF$238.78
Days on Market174
Property Features for 385 N 1200 W
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Multi-Family
Zoning description
R17000
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 6, Bedroom 5, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 3, Bathroom 1, Bedroom 8, Bedroom 7
Parking
4
Window features
Blinds
Patio and Porch features
Patio
Interior features
Disposal, Range/Oven: Free Stdng.
Exterior features
Double Pane Windows, Patio: Covered
Subdivision
OAKLEY SUB
Lot features
Corner Lot, Curb & Gutter, Fenced: Part, Sprinkler: Auto- Full
Elementary school
None/Other
Middle school
None/Other
High school
None/Other
Standard status
Active
APN
08-35-157-010
Size
3,350 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Annual Amount
3442
Building Details
Year built
1960
Number of units
4
Flooring type
Laminate, Carpet, Vinyl
Building materials
Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Oakwood Realty & Property Management 8 Corp
(801) 916-0771
Listed By:
Russ James
(801) 916-0771
Added: Feb 19
Changed: Aug 2
Last Checked: Aug 12 at 1:06AM
MLS# 2138206
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 quadplex features an all-brick exterior with vinyl double-pane windows throughout and an asphalt roof. The property was built in 1960 and includes interior finishes such as laminate, carpet, and vinyl. Units feature details like disposal and a free-standing range/oven. A covered patio and a separate-yard layout support tenant privacy. Two units were recently fully renovated with new flooring and paint. The west end unit (1215) has a fenced yard and its own off-street parking lot. All units are occupied, and there are no showings without an accepted offer; please do not bother tenants. Owner/Broker.
The property is located at 385 N 1200 W in Salt Lake City, UT 84116, and is zoned Multi-Family.
Note: seller financing is not offered.
The property is located at 385 N 1200 W in Salt Lake City, UT 84116, and is zoned Multi-Family.
Note: seller financing is not offered.
Key Highlights
- Quadplex with all‑brick exterior and vinyl double‑pane windows
- Two units recently fully renovated with new flooring and paint
- West end unit 1215 has a fenced yard and its own off‑street parking lot
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
$44,675
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
5.59%
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%
$893,500
$893.5K
Cap Rate 7%
$638,214
$638.2K
Cap Rate 9%
$496,389
$496.4K
Market Conditions
NOI Build-Up for 3,350 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
$67.5K $20.16/SF
− Vacancy
−$3.7K −$1.11/SF
EGI
$63.8K $19.05/SF
− OpEx
−$19.1K −$5.72/SF
NOI
$44.7K $13.34/SF
Area
Salt Lake City, UT
Vacancy
5.50%
Lease Rate
$20.16 /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%
$893,500
Cap Rate 7%
$638,214
Cap Rate 9%
$496,389
Alternative Uses
Best Use
Multifamily LT 5
$638.2K
$558.4K – $744.6K
NOI $44,675 @ 7.0% cap · market cap 5.59%
Second Best
Apartment 5plus
$592.9K
$518.8K – $691.7K
NOI $41,501 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$902.5K
$789.7K – $1.05M
NOI $63,178 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Explore this area
Business Placement
Demographics for 84116, UT
35,327
Population
14,487
Households
2.4
Avg Household Size
31
Median Age
24%
College-Educated
82%
High-School Grad
50.3 sq mi
ZIP Area
702
Density / Sq Mi
$69,604
Median Household Income
$38,492
Median Earnings
$1,280
Median Rent
$334,900
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 - Quadplex features vinyl double-pane windows and an all-brick exterior, with two units recently renovated and all units occupied.
Where is this quadplex located?
The property is located at 385 N 1200 W Salt Lake City, UT.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Quadplex with all‑brick exterior and vinyl double‑pane windows; Two units recently fully renovated with new flooring and paint; West end unit 1215 has a fenced yard and its own off‑street parking lot
