Mid-Century Duplex with
For Sale
Contact for pricing
1070 40th Street, Ogden, UT 84403
Built in 1956, this duplex offers a 2-bedroom and an oversized 3-bedroom unit, plus a large grassy backyard.
Property Size2,536 SF
Price / SF$196.77
Days on Market82
Property Features for 1070 40th Street
General Information
Standard status
Active
Size
2,536 SF
Property subtype
Retail, Multifamily
Zoning
R-2
Occupancy
100%
Net Operating Income
$19,724
Additional Details
Multifamily Units
2
Amenities
large grassy backyard
Building Details
Year Built
1956
Buildings
1
Units
2
Construction
brick
Tenancy
Multi
Listing Agency:
CBRE - Salt Lake City
Listed By:
Vicente Cantua · License #11260013-SA00
(801) 869-8000
Source:
Crexi
Added: Jun 19
Changed: Aug 28
Last Checked: Sep 7 at 10:36AM
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 CBRE - Salt Lake City
Investment Insights
Based on property information with market context.
1070 40th Street is a mid-century duplex built in 1956 with classic brick exterior character. The property totals 2,572 square feet and includes one 2-bedroom/1-bath unit and one oversized 3-bedroom/1-bath unit. Unit 2 features recently updated flooring, and the property includes a large grassy backyard, an uncommon amenity described as supporting carport or storage expansion potential. The duplex is offered as-is in value-add condition, with both units presented as having a clear renovation runway.
The property is located directly west of Weber State University in one of Ogden’s more desirable residential neighborhoods. The configuration is described as having the scale and lot depth typical of the best workforce housing stock in the submarket.
Unit 2 is currently leased at $1,100 per month (signed January 2026) and described as below a $1,700 market median, creating a stated $600 monthly gap. Unit 1 is leased at $1,415 per month and is described as closer to market while still benefiting from cosmetic renovation.
The property is located directly west of Weber State University in one of Ogden’s more desirable residential neighborhoods. The configuration is described as having the scale and lot depth typical of the best workforce housing stock in the submarket.
Unit 2 is currently leased at $1,100 per month (signed January 2026) and described as below a $1,700 market median, creating a stated $600 monthly gap. Unit 1 is leased at $1,415 per month and is described as closer to market while still benefiting from cosmetic renovation.
Key Highlights
- Mid‑century duplex built in 1956 with 2,572 SF total living area
- Unit mix: one 2‑bedroom/1‑bath unit and one oversized 3‑bedroom/1‑bath unit
- Unit 2 (3‑bed/1‑bath) recently updated flooring and is leased for $1,100/month
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
$25,062
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
5.02%
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%
$501,240
$501.2K
Cap Rate 7%
$358,029
$358.0K
Cap Rate 9%
$278,467
$278.5K
Market Conditions
NOI Build-Up for 2,536 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
$39.6K $15.60/SF
− Vacancy
−$3.8K −$1.48/SF
EGI
$35.8K $14.12/SF
− OpEx
−$10.7K −$4.24/SF
NOI
$25.1K $9.88/SF
Area
Weber County, UT
Vacancy
9.50%
Lease Rate
$15.60 /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%
$501,240
Cap Rate 7%
$358,029
Cap Rate 9%
$278,467
Alternative Uses
Best Use
Multifamily LT 5
$358.0K
$313.3K – $417.7K
NOI $25,062 @ 7.0% cap · market cap 5.02%
Second Best
Apartment 5plus
$312.0K
$273.0K – $364.1K
NOI $21,843 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$584.9K
$511.8K – $682.4K
NOI $40,944 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,501
Businesses Nearby
Explore this area
Business Placement
Demographics for 84403, UT
37,847
Population
14,587
Households
2.6
Avg Household Size
33
Median Age
34%
College-Educated
93%
High-School Grad
34.0 sq mi
ZIP Area
1,113
Density / Sq Mi
$84,589
Median Household Income
$41,227
Median Earnings
$1,172
Median Rent
$392,700
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?
Duplex - Built in 1956, this duplex offers a 2-bedroom and an oversized 3-bedroom unit, plus a large grassy backyard.
Where is this duplex located?
The property is located at 1070 40th Street Ogden, UT.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Mid‑century duplex built in 1956 with 2,572 SF total living area; Unit mix: one 2‑bedroom/1‑bath unit and one oversized 3‑bedroom/1‑bath unit; Unit 2 (3‑bed/1‑bath) recently updated flooring and is leased for $1,100/month
