All-Brick Four-Unit
For Sale
$914,500
1068 S ELLEN Cir, Orem, UT 84058
MULTI_FAMILY - Other - Orem, UT
Property Size3,492 SF
Lot Size0.24 Acres
Price / SF$261.88
Days on Market177
Property Features for 1068 S ELLEN Cir
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Multi-Family
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 3, Bedroom 7, Bedroom 5, Bedroom 1, Bedroom 8, Bathroom 1, Bathroom 2, Bedroom 6, Bedroom 4, Bathroom 3, Bathroom 4
Parking
8
Parking features
RV, Covered
Window features
Blinds
Interior features
Disposal, Range/Oven: Free Stdng., Granite Countertops, Dishwasher: Built-In
Lot features
Cul-De-Sac, Curb & Gutter, Road: Paved, Sidewalks, View: Mountain
Elementary school
Cascade
Middle school
Canyon View
High school
Orem
Elementary school district
Alpine
Middle school district
Alpine
High school district
Alpine
Subdivision
Orem; Provo; Sundance
Standard status
Active
APN
49-067-0003
Size
3,492 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Annual Amount
3843
Utilities
Sewer type
Public Sewer
Heating system
Central, Forced Air, Natural Gas
Water source
Private
Building Details
Year built
1973
Number of units
4
Flooring type
Tile, Carpet
Building materials
Brick
Roof type
Composition
Architectural style
Other
Listing Agency:
Real Estate Essentials
(801) 610-9563
Listed By:
Paul A Bontempo · License #13075698
(714) 719-5459
Added: Feb 13
Changed: Aug 3
Last Checked: Aug 9 at 8:06PM
MLS# 2138017
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Investment Insights
Based on property information with market context.
This all-brick quadplex on a cul-de-sac features four two-bedroom, one-bath units, each with indoor washer and dryer hookups. The property includes heating with natural gas, central systems, and forced air. Flooring includes carpet and tile, and several unit interiors feature built-in dishwashers, disposal, range/oven, and granite countertops. Parking is available with RV and covered spaces. The roof was replaced with new rain gutters installed, and the property was built in 1973.
Three of the four units have AC with forced air, with two of those units noted as newer. Two of the four units have been recently upgraded, including new cabinets, dishwashers, stone countertops, and new carpet and tile flooring. Public sewer and a private water source are provided.
Units are supported by on-site kitchen features such as storage and refrigerators, and each kitchen has garbage disposals. All measurements and lot details are provided for buyer review and verification.
Three of the four units have AC with forced air, with two of those units noted as newer. Two of the four units have been recently upgraded, including new cabinets, dishwashers, stone countertops, and new carpet and tile flooring. Public sewer and a private water source are provided.
Units are supported by on-site kitchen features such as storage and refrigerators, and each kitchen has garbage disposals. All measurements and lot details are provided for buyer review and verification.
Key Highlights
- 0.24‑acre cul‑de‑sac quadplex lot
- 3492 SF all‑brick four‑unit building
- Roof replacement with new rain gutters installed
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
$32,215
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
3.52%
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%
$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
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
$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 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%
$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
NOI $32,215 @ 7.0% cap · market cap 3.52%
Second Best
Apartment 5plus
$423.1K
$370.3K – $493.7K
NOI $29,620 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$962.6K
$842.3K – $1.12M
NOI $67,382 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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
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 - All-brick quadplex in a Multi-Family zoning area with four two-bedroom units and indoor washer/dryer hookups.
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 $914,500.
What are key features of this property?
This property features: 0.24‑acre cul‑de‑sac quadplex lot; 3492 SF all‑brick four‑unit building; Roof replacement with new rain gutters installed
