Brick Triplex with Open
For Sale
$699,900
3851 S 3200 W, West Valley City, UT 84119
Residential, West Valley City, UT
Property Size1,864 SF
Lot Size0.18 Acres
Price / SF$375.48
Days on Market99
Property Features for 3851 S 3200 W
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
Multi-Family
Zoning description
R-1-8
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 5, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 2
Parking
6
Window features
Blinds
Patio and Porch features
Porch
Exterior features
Porch: Open
Elementary school
Rolling Meadows
Middle school
Valley
High school
Granger
Elementary school district
Granite
Middle school district
Granite
High school district
Granite
Subdivision
Magna; Taylrsvl; WVC; SLC
Standard status
Active
APN
15-33-302-048
Size
1,864 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
3730
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Building Details
Year built
1950
Number of units
3
Flooring type
Tile, Laminate
Building materials
Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
KW South Valley Keller Williams · Keller Williams Realty
(801) 676-5700
Listed By:
Justin Hurd
(801) 664-8789
Added: May 21
Changed: Aug 20
Last Checked: Aug 27 at 11:06AM
MLS# 2161219
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 legal triplex contains 1,864 square feet on a 0.18-acre parcel and was built in 1950. The property includes a single-family portion along with two additional units, creating a three-unit residential configuration. Brick construction, an asphalt roof, an open porch, tile and laminate flooring, and central natural-gas heating are among the documented improvements.
The property is located at 3851 S 3200 W in West Valley City, Utah, within Salt Lake County. Multi-Family zoning and public sewer serve the site. The location provides access to shopping, dining, schools, and major commuter routes. The recorded room inventory includes five bedrooms and three bathrooms.
The property is located at 3851 S 3200 W in West Valley City, Utah, within Salt Lake County. Multi-Family zoning and public sewer serve the site. The location provides access to shopping, dining, schools, and major commuter routes. The recorded room inventory includes five bedrooms and three bathrooms.
Key Highlights
- Legal triplex with a single‑family portion and two additional units
- 1,864 square feet on a 0.18‑acre parcel
- Multi‑Family zoning with public sewer
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
$20,187
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
2.88%
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%
$403,740
$403.7K
Cap Rate 7%
$288,386
$288.4K
Cap Rate 9%
$224,300
$224.3K
Market Conditions
NOI Build-Up for 1,864 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
$30.2K $16.20/SF
− Vacancy
−$1.4K −$0.73/SF
EGI
$28.8K $15.47/SF
− OpEx
−$8.7K −$4.64/SF
NOI
$20.2K $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%
$403,740
Cap Rate 7%
$288,386
Cap Rate 9%
$224,300
Alternative Uses
Best Use
Multifamily LT 5
$288.4K
$252.3K – $336.5K
NOI $20,187 @ 7.0% cap · market cap 2.88%
Second Best
Apartment 5plus
$260.3K
$227.8K – $303.7K
NOI $18,220 @ 7.0% cap · market cap 2.60%
Theoretical Best
Office A
$533.6K
$466.9K – $622.6K
NOI $37,355 @ 7.0% cap · market cap 5.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
723
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?
Triplex - Legal three-unit property with Multi-Family zoning, public sewer, and flexible owner-occupant or rental use.
Where is this triplex located?
The property is located at 3851 S 3200 W West Valley City, UT.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Legal triplex with a single‑family portion and two additional units; 1,864 square feet on a 0.18‑acre parcel; Multi‑Family zoning with public sewer
