6-Unit Townhome Apartment
For Sale
$1,485,000
535 W 2530 N, Cedar City, UT 84720
MultiFamily, Cedar City, UT
Property Size7,212 SF
Lot Size0.05 Acres
Price / SF$205.91
Days on Market42
Property Features for 535 W 2530 N
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential, PUD, Multi-Family
Bedrooms
16
Bathrooms
10
Full bathrooms
10
Rooms
Bedroom 10, Bedroom 3, Bedroom 8, Bedroom 7, Bathroom 3, Bathroom 4, Bathroom 7, Bathroom 1, Bathroom 10, Bedroom 11, Bedroom 2, Bedroom 4, Bathroom 6, Bedroom 13, Bedroom 15, Bathroom 5, Bedroom 6, Bedroom 9, Bathroom 2, Bathroom 8, Bedroom 16, Bedroom 5, Bedroom 1, Bedroom 12, Bedroom 14, Bathroom 9
Elementary school
Out of Area
Middle school
Out of Area
High school
Out of Area
Subdivision
Outside Area
Standard status
Active
APN
00-29-34-00
Size
7,212 SF
Lot size
0.05 Acres
Utilities
Heating system
Natural Gas
Cooling system
Central Air
Amenities
enclosed backyards
Building Details
Year built
2025
Floors in Building
2
Number of units
6
Roof type
Asphalt
Listing Agency:
ELEMENT REAL ESTATE BROKERS LLC
(435) 200-1991
Listed By:
Nathan Shaffer
(435) 525-0079
Added: Aug 14
Changed: Sep 13
Last Checked: Sep 24 at 6:06AM
MLS# 26-275192
Copyright © 2026 Washington County Board of Realtors. 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.
Completed in 2025, this 7,212-square-foot apartment building contains six townhome-style residences, with each unit assigned its own parcel number. The homes feature open layouts with kitchens finished with painted or stained cabinetry, quartz countertops, and corner pantries. Main-level plans include an open great room and a powder bathroom, while enclosed backyards provide private outdoor space. Each residence includes 2 covered carport spaces. The property is equipped with natural gas heating, central air, and asphalt roofing.
The community is located in Cedar City, Utah, with access to I-15 described as quick and easy. The six residences offer a separately parceled multifamily configuration within a newly constructed development.
The community is located in Cedar City, Utah, with access to I-15 described as quick and easy. The six residences offer a separately parceled multifamily configuration within a newly constructed development.
Key Highlights
- Six townhome‑style units, each with its own Parcel #
- 7,212 SF multifamily building completed in 2025
- Each residence includes 2 covered carport spaces
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
$59,528
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
4.01%
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%
$1,190,560
$1.2M
Cap Rate 7%
$850,400
$850.4K
Cap Rate 9%
$661,422
$661.4K
Market Conditions
NOI Build-Up for 7,212 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
$112.5K $15.60/SF
− Vacancy
−$4.3K −$0.59/SF
EGI
$108.2K $15.01/SF
− OpEx
−$48.7K −$6.75/SF
NOI
$59.5K $8.25/SF
Area
Iron County, UT
Vacancy
3.80%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
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%
$1,190,560
Cap Rate 7%
$850,400
Cap Rate 9%
$661,422
Alternative Uses
Best Use
Apartment 5plus
$850.4K
$744.1K – $992.1K
NOI $59,528 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,104 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Explore this area
Business Placement
Demographics for 84720, UT
23,607
Population
8,984
Households
2.6
Avg Household Size
28
Median Age
35%
College-Educated
95%
High-School Grad
341.5 sq mi
ZIP Area
69
Density / Sq Mi
$63,742
Median Household Income
$29,979
Median Earnings
$932
Median Rent
$357,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Apartment building - Newly built multifamily property with individually parceled residences, covered parking, private outdoor areas, and open-plan interiors.
Where is this apartment building located?
The property is located at 535 W 2530 N Cedar City, UT.
What is the asking price?
The asking price for this property is $1,485,000.
What are key features of this property?
This property features: Six townhome‑style units, each with its own Parcel #; 7,212 SF multifamily building completed in 2025; Each residence includes 2 covered carport spaces
