Brick Fourplex with Covered
For Sale
$825,000
4031 S 3200 W, Salt Lake City, UT 84119
Residential, Salt Lake City, UT
Property Size2,706 SF
Lot Size0.36 Acres
Price / SF$304.88
Days on Market15
Property Features for 4031 S 3200 W
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Multi-Family
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 2, Bedroom 5, Bedroom 1, Bedroom 4, Bathroom 3, Bathroom 4, Bathroom 1, Bedroom 6, Bedroom 3
Parking
4
Parking features
Covered
Interior features
Disposal, Range/Oven: Free Stdng., Granite Countertops
Lot features
Curb & Gutter, Fenced: Full
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
15-33-354-004
Size
2,706 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Annual Amount
4128
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas, Central
Amenities
coin-operated laundry
high-speed Utopia Fiber internet
Building Details
Year built
1963
Number of units
4
Building materials
Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Equity Summit Group PC
(801) 367-0286
Listed By:
Spencer Wilson
(801) 244-6889
Added: Aug 11
Changed: Aug 22
Last Checked: Aug 25 at 10:06PM
MLS# 2178108
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Investment Insights
Based on property information with market context.
This four-unit multifamily property contains 2,706 square feet on a 0.36-acre lot and was built in 1963. The brick building includes covered parking, public sewer service, asphalt roofing, and central forced-air heating powered by natural gas. Interior features include granite countertops, disposals, and freestanding ranges. Updated HVAC systems and new water heaters are among the completed capital improvements.
The property is zoned Multi-Family and includes coin-operated laundry facilities plus landlord-provided Utopia Fiber internet. Gas and electric utilities are separately metered. Three units have stable leases in place, while one unit is vacant, providing a current occupancy position that can be evaluated by a new owner. The trailing expense ratio is under 19%.
The property is zoned Multi-Family and includes coin-operated laundry facilities plus landlord-provided Utopia Fiber internet. Gas and electric utilities are separately metered. Three units have stable leases in place, while one unit is vacant, providing a current occupancy position that can be evaluated by a new owner. The trailing expense ratio is under 19%.
Key Highlights
- Four‑unit multifamily property with 2,706 SF of building area
- 0.36‑acre lot with Multi‑Family zoning
- Brick construction completed in 1963
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
$36,087
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
4.37%
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%
$721,740
$721.7K
Cap Rate 7%
$515,529
$515.5K
Cap Rate 9%
$400,967
$401.0K
Market Conditions
NOI Build-Up for 2,706 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
$54.6K $20.16/SF
− Vacancy
−$3.0K −$1.11/SF
EGI
$51.6K $19.05/SF
− OpEx
−$15.5K −$5.72/SF
NOI
$36.1K $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%
$721,740
Cap Rate 7%
$515,529
Cap Rate 9%
$400,967
Alternative Uses
Best Use
Multifamily LT 5
$515.5K
$451.1K – $601.5K
NOI $36,087 @ 7.0% cap · market cap 4.37%
Second Best
Apartment 5plus
$478.9K
$419.0K – $558.7K
NOI $33,523 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$729.0K
$637.9K – $850.5K
NOI $51,032 @ 7.0% cap · market cap 6.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
242
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?
Quadplex - Four-unit multifamily property with updated building systems, separately metered gas and electric, and on-site laundry income.
Where is this quadplex located?
The property is located at 4031 S 3200 W Salt Lake City, UT.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Four‑unit multifamily property with 2,706 SF of building area; 0.36‑acre lot with Multi‑Family zoning; Brick construction completed in 1963
