Fourplex Near University of
For Sale
$1,299,000
1261 E ALAMEDA Ave S, Salt Lake City, UT 84102
Residential, Salt Lake City, UT
Property Size3,960 SF
Lot Size0.16 Acres
Price / SF$328.03
Days on Market62
Property Features for 1261 E ALAMEDA Ave S
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Multi-Family
Zoning description
RMF 35
Bedrooms
10
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 1, Bedroom 2, Bedroom 5, Bedroom 6, Bedroom 7, Bathroom 4, Bathroom 1, Bedroom 10, Bathroom 2, Bedroom 8, Bedroom 3, Bathroom 3, Bedroom 9
Parking
8
Parking features
Covered
Window features
Blinds
Patio and Porch features
Porch, Patio
Interior features
Range/Oven: Free Stdng.
Exterior features
Balcony, Double Pane Windows, Lighting, Patio: Covered, Porch: Open
Subdivision
PLAT F
Lot features
Curb & Gutter, Road: Paved, Sidewalks, View: Mountain, View: Valley
View
Valley
Elementary school
Wasatch
Middle school
Bryant
High school
East
Elementary school district
Salt Lake
Middle school district
Salt Lake
High school district
Salt Lake
Standard status
Active
APN
16-05-227-025
Size
3,960 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
6257
Utilities
Heating system
Central, Forced Air, Natural Gas
Building Details
Year built
1896
Floors in Building
2
Number of units
4
Flooring type
Vinyl, Tile, Carpet
Building materials
Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Bergstedt Real Estate LLC
(801) 856-3274
Listed By:
David W Bergstedt
(801) 856-3274
Added: Jun 29
Changed: Aug 22
Last Checked: Aug 29 at 10:06PM
MLS# 2168712
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Investment Insights
Based on property information with market context.
This 3,960-square-foot fourplex contains 10 bedrooms and 4 bathrooms across four residential units. The unit mix includes two three-bedroom homes and two two-bedroom homes, each with one bathroom. Interior finishes include vinyl, carpet, and tile flooring, while central natural-gas forced-air heating serves the building. Brick construction, double-pane windows, balconies, an open porch, and a covered patio are among the property features. The building dates to 1896 and occupies a 0.16-acre parcel with Multi-Family zoning.
The property is located at 1261 E Alameda Ave S in Salt Lake City, approximately 3/10ths of a mile from President's Circle at the University of Utah. Reservoir Park and several nearby restaurants, retail services, and convenience businesses are within walking distance.
The property is located at 1261 E Alameda Ave S in Salt Lake City, approximately 3/10ths of a mile from President's Circle at the University of Utah. Reservoir Park and several nearby restaurants, retail services, and convenience businesses are within walking distance.
Key Highlights
- Four‑unit configuration with 10 bedrooms and 4 bathrooms
- Unit mix includes two 3‑bedroom units and two 2‑bedroom units
- 3,960 square feet on a 0.16‑acre parcel
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
$52,810
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
4.07%
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%
$1,056,200
$1.1M
Cap Rate 7%
$754,429
$754.4K
Cap Rate 9%
$586,778
$586.8K
Market Conditions
NOI Build-Up for 3,960 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
$79.8K $20.16/SF
− Vacancy
−$4.4K −$1.11/SF
EGI
$75.4K $19.05/SF
− OpEx
−$22.6K −$5.72/SF
NOI
$52.8K $13.34/SF
Area
Salt Lake City, UT
Vacancy
5.50%
Lease Rate
$20.16 /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%
$1,056,200
Cap Rate 7%
$754,429
Cap Rate 9%
$586,778
Alternative Uses
Best Use
Multifamily LT 5
$754.4K
$660.1K – $880.2K
NOI $52,810 @ 7.0% cap · market cap 4.07%
Second Best
Apartment 5plus
$700.8K
$613.2K – $817.6K
NOI $49,058 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$1.07M
$933.5K – $1.24M
NOI $74,682 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,760
Businesses Nearby
Explore this area
Business Placement
Demographics for 84102, UT
18,857
Population
11,348
Households
1.7
Avg Household Size
29
Median Age
56%
College-Educated
94%
High-School Grad
1.9 sq mi
ZIP Area
9,925
Density / Sq Mi
$50,040
Median Household Income
$32,432
Median Earnings
$1,305
Median Rent
$487,200
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 - Four-unit property with varied layouts, Multi-Family zoning, and covered patio and porch features.
Where is this quadplex located?
The property is located at 1261 E ALAMEDA Ave S Salt Lake City, UT.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Four‑unit configuration with 10 bedrooms and 4 bathrooms; Unit mix includes two 3‑bedroom units and two 2‑bedroom units; 3,960 square feet on a 0.16‑acre parcel
