Building Details

Year Built 1973

Construction brick

Listing Agency: Equity Real Estate

Listed By: Wiser Real Estate Show Phone

Source: Wiserhomesearch

Added: Aug 4 Changed: Oct 13 Last Checked: Oct 14 at 11:22PM

Report an Issue

Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Equity Real Estate

Investment Insights

Based on property information with market context.

This 3,492-square-foot quadplex in Orem contains four apartments, each configured with 2 bedrooms and 1 full bath. The brick building was constructed in 1973 and includes a new roof and rain gutters. Every unit has indoor washer and dryer hookups, a refrigerator, garbage disposal, and kitchen storage. Forced-air AC serves 3 units, including 2 with newer systems. Two apartments have received updates including cabinets, dishwashers, stone countertops, carpet, and tile flooring.

The property sits on a cul-de-sac near UVU, shopping, schools, and recreation. Provo Airport is also nearby. Its Orem location provides access to the surrounding educational and transportation amenities while retaining a residential setting.

Key Highlights

• 3,492‑square‑foot brick quadplex in Orem
• Four units, each with 2 bedrooms and 1 full bath
• New roof and rain gutters installed

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$32,215

Cap Rate

3.38%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$644,300 $644.3K

Cap Rate 7%

$460,214 $460.2K

Cap Rate 9%

$357,944 $357.9K

Market Conditions

NOI Build-Up for 3,492 SF

Gross rent

$48.2K $13.80/SF

− Vacancy

−$2.2K −$0.62/SF

EGI

$46.0K $13.18/SF

− OpEx

−$13.8K −$3.95/SF

NOI

$32.2K $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 Rate 5%

$644,300

Cap Rate 7%

$460,214

Cap Rate 9%

$357,944

Alternative Uses

Best Use

Multifamily LT 5

$460.2K

$402.7K – $536.9K (±1% cap)

NOI $32,215 @ 7.0% cap · market cap 3.38%

Second Best

Apartment 5plus

$423.1K

$370.3K – $493.7K (±1% cap)

NOI $29,620 @ 7.0% cap · market cap 3.10%

Theoretical Best

Office A

$962.6K

$842.3K – $1.12M (±1% cap)

NOI $67,382 @ 7.0% cap · market cap 7.06%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Quadplexes

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store HVAC Service Grocery & Convenience Store Storage Facility Nursing Home Butcher

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

Location Intelligence

Trade Area within ½ mile

1,776

Businesses Nearby

Explore this area Business Placement

Demographics for 84058, UT

33,734

Population

11,749

Households

2.9

Avg Household Size

26

Median Age

41%

College-Educated

93%

High-School Grad

8.0 sq mi

ZIP Area

4,217

Density / Sq Mi

$71,474

Median Household Income

$27,325

Median Earnings

$1,395

Median Rent

$441,900

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this quadplexes located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Four-Unit Multifamily Property

732 E 1500 S, Orem, UT 84097

$925,000

3,444 SF

View details

4-Unit Multifamily Property

232 N 250 E, Orem, UT 84057

$1,095,000

4,160 SF

View details

Renovated 4-Unit Quadplex

1026 N 150 W, Orem, UT 84057

$1,095,000

4,624 SF

View details

Office Unit with Executive Suites

843 N 900 W #305, Orem, UT 84057

$849,900

3,377 SF

View details

Updated Duplex with Basement

512 N 100 E, Orem, UT 84057

$719,900

2,779 SF

View details

Modern Office Condominium

980 E 800 N Unit 201, Orem, UT 84097

$995,000

View details

7-Unit Apartment Building

306 E 1600 S, Orem, UT 84058

$1,800,000

5,260 SF

View details

Mixed-Use Retail and Office Building

1215 S MAIN ST, Orem, UT 84059

$569,500

2,195 SF

View details

Equipped Dental Medical Office

442 W 800 N, Orem, UT 84057

$650,000

1,872 SF

View details

Orem Office Space Available

410-450 W 800 N, Orem, UT

Contact for pricing

3,615 SF

View details

Flex Building with Fenced Yard

1355 W 465 S, Orem, UT 84058

$1,550,000

6,290 SF

View details

Standalone Retail Building with Marquee Signage

340 E 1200 S, Orem, UT 84058

$1,775,000

6,000 SF

View details

Frequently Asked Questions

What type of property is this?

Quadplex - Four two-bedroom apartments feature washer and dryer hookups, kitchen storage, and a cul-de-sac setting near UVU.

Where is this quadplex located?

The property is located at 1068 S Ellen Cir Orem, UT.

What is the asking price?

The asking price for this property is $954,500.

What are key features of this property?

This property features: 3,492‑square‑foot brick quadplex in Orem; Four units, each with 2 bedrooms and 1 full bath; New roof and rain gutters installed