Four-Unit Property with
For Sale
$1,350,000
591 S 1050 W, Pleasant Grove, UT 84062
Residential, Pleasant Grove, UT
Property Size5,197 SF
Lot Size0.36 Acres
Price / SF$259.77
Days on Market97
Property Features for 591 S 1050 W
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
12
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 1, Bedroom 10, Bedroom 8, Bathroom 7, Bathroom 6, Bedroom 4, Bedroom 1, Bedroom 2, Bedroom 5, Bedroom 6, Bedroom 7, Bathroom 4, Bedroom 12, Bedroom 11, Bathroom 2, Bathroom 3, Bathroom 5, Bedroom 9, Bathroom 8, Bedroom 3
Parking
6
Window features
Blinds
Interior features
Closet: Walk-In, Disposal, Range/Oven: Free Stdng., Dishwasher: Built-In
Subdivision
STEEPLE CHASE
Lot features
Curb & Gutter, Road: Paved, Secluded, Sidewalks, Sprinkler: Auto- Full
Elementary school
Mount Mahogany
Middle school
Pleasant Grove
High school
Pleasant Grove
Elementary school district
Alpine
Middle school district
Alpine
High school district
Alpine
Standard status
Active
APN
66-374-0007
Size
5,197 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Annual Amount
5548
HOA Fee
$546 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Central, Forced Air, Natural Gas
Amenities
playground
Building Details
Year built
2013
Floors in Building
2
Number of units
4
Flooring type
Vinyl, Carpet
Building materials
Brick, Stucco
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Intermountain Properties
(801) 899-9102
Listed By:
Bryce Anderson · License #5496404-PB00
(801) 899-9102
Added: May 23
Changed: Aug 22
Last Checked: Aug 27 at 6:06AM
MLS# 2160327
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Investment Insights
Based on property information with market context.
Built in 2013, this 5,197-square-foot quadplex contains four separately metered residences on a 0.36-acre site at 591 S 1050 W in Pleasant Grove. Each unit includes three bedrooms, two full bathrooms, laundry hookups, and a garage. Units A and D are single-level layouts with two-car garages, while Units B and C feature two-story designs with upstairs bedrooms and bathrooms and one-car garages. Unit B has a sliding-door patio exit, and Unit C includes main-floor laundry with a rear entry.
The property includes brick and stucco construction, vinyl and carpet flooring, forced-air central heating with natural gas, public sewer, and asphalt roofing. The HOA provides landscaping, snow removal, exterior insurance and maintenance, and access to a common playground. Tenants pay their own utilities, including water, trash, and internet, through separate metering.
The property includes brick and stucco construction, vinyl and carpet flooring, forced-air central heating with natural gas, public sewer, and asphalt roofing. The HOA provides landscaping, snow removal, exterior insurance and maintenance, and access to a common playground. Tenants pay their own utilities, including water, trash, and internet, through separate metering.
Key Highlights
- Four‑unit quadplex totaling 5,197 square feet on 0.36 acres
- Every residence has 3 bedrooms, 2 full bathrooms, laundry hookups, and a garage
- Units A and D provide single‑level layouts with two‑car garages
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
$47,944
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
3.55%
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%
$958,880
$958.9K
Cap Rate 7%
$684,914
$684.9K
Cap Rate 9%
$532,711
$532.7K
Market Conditions
NOI Build-Up for 5,197 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
$71.7K $13.80/SF
− Vacancy
−$3.2K −$0.62/SF
EGI
$68.5K $13.18/SF
− OpEx
−$20.5K −$3.95/SF
NOI
$47.9K $9.23/SF
Area
Utah County, UT
Vacancy
4.50%
Lease Rate
$13.80 /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%
$958,880
Cap Rate 7%
$684,914
Cap Rate 9%
$532,711
Alternative Uses
Best Use
Multifamily LT 5
$684.9K
$599.3K – $799.1K
NOI $47,944 @ 7.0% cap · market cap 3.55%
Second Best
Apartment 5plus
$629.8K
$551.0K – $734.7K
NOI $44,083 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,281 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
906
Businesses Nearby
Explore this area
Business Placement
Demographics for 84062, UT
47,771
Population
14,649
Households
3.3
Avg Household Size
28
Median Age
43%
College-Educated
96%
High-School Grad
50.7 sq mi
ZIP Area
942
Density / Sq Mi
$101,584
Median Household Income
$41,079
Median Earnings
$1,617
Median Rent
$479,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four distinct floor plans offer three-bedroom, two-bath layouts with laundry hookups and private garage capacity.
Where is this quadplex located?
The property is located at 591 S 1050 W Pleasant Grove, UT.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Four‑unit quadplex totaling 5,197 square feet on 0.36 acres; Every residence has 3 bedrooms, 2 full bathrooms, laundry hookups, and a garage; Units A and D provide single‑level layouts with two‑car garages
