Brick Quadplex Near
For Sale
$954,500
1068 S ELLEN Cir, Orem, UT 84058
Residential, Orem, UT
Property Size3,492 SF
Lot Size0.24 Acres
Price / SF$273.34
Days on Market226
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 8, Bathroom 4, Bedroom 3, Bedroom 7, Bedroom 6, Bathroom 2, Bedroom 5, Bedroom 2, Bathroom 3, Bedroom 1, Bedroom 4, Bathroom 1
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
Forced Air, Central, Natural Gas
Water source
Private
Amenities
washer/dryer hookups
garbage disposal
refrigerator
air conditioning
Building Details
Year built
1973
Number of units
4
Flooring type
Carpet, Tile
Building materials
Brick
Roof type
Composition
Architectural style
Other
Listing Agency:
Real Estate Essentials
(801) 610-9563
Listed By:
Paul A Bontempo · License #01142074
(714) 719-5459
Added: Feb 13
Changed: Sep 15
Last Checked: Sep 27 at 2:06PM
MLS# 2138017
Copyright © 2026 UtahRealEstate.com. 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.
This 1973 brick quadplex contains four two-bedroom, one-bath units totaling 3,492 square feet on a 0.24-acre parcel. Each residence includes a kitchen with refrigerator, freestanding range/oven, dishwasher, garbage disposal, and storage, along with indoor washer and dryer hookups. Forced-air central AC is installed in three units, including two newer systems. Two apartments have received interior updates that include cabinetry, dishwashers, stone countertops, carpet, and tile flooring.
Recent property improvements include a new composition roof, rain gutters, and asphalt paving. The property sits on a cul-de-sac at 1068 S ELLEN Cir in Orem, with walking access to Utah Valley University and proximity to shopping, schools, recreation, and Provo Airport. Parking features include covered parking and RV parking, while the property is served by public sewer and private water.
Recent property improvements include a new composition roof, rain gutters, and asphalt paving. The property sits on a cul-de-sac at 1068 S ELLEN Cir in Orem, with walking access to Utah Valley University and proximity to shopping, schools, recreation, and Provo Airport. Parking features include covered parking and RV parking, while the property is served by public sewer and private water.
Key Highlights
- Four‑unit quadplex with 3,492 square feet on 0.24 acres
- Each unit offers 2 bedrooms, 1 full bath, and indoor washer and dryer hookups
- New composition roof, rain gutters, and asphalt paving
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
3.38%
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 3.38%
Second Best
Apartment 5plus
$423.1K
$370.3K – $493.7K
NOI $29,620 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$962.6K
$842.3K – $1.12M
NOI $67,382 @ 7.0% cap · market cap 7.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,562
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
Check the figures for this property
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?
Quadplex - Four two-bedroom residences with private washer and dryer hookups, updated interiors in two units, and covered parking.
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: Four‑unit quadplex with 3,492 square feet on 0.24 acres; Each unit offers 2 bedrooms, 1 full bath, and indoor washer and dryer hookups; New composition roof, rain gutters, and asphalt paving
