12-Unit Apartment
For Sale
$2,149,999
1165 Edgewood Dr, Ogden, UT 84403
Fully occupied multifamily property with select remodeled units and professional management in place.
Property Size12,616 SF
Price / SF$170.42
Days on Market64
Property Features for 1165 Edgewood Dr
General Information
Standard status
Active
Size
12,616 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
12
Building Details
Year Built
1968
Listing Agency:
KW Utah Realtors Keller Williams
Listed By:
Jordy Clark · License #8992415
(801) 858-0000
Source:
Thehonorgrouputah
Added: Jul 21
Changed: Sep 8
Last Checked: Sep 21 at 9:30AM
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 KW Utah Realtors Keller Williams
Investment Insights
Based on property information with market context.
Built in 1968, this 12-unit apartment property offers a fully occupied configuration with several residences that have been updated or remodeled. The property has an established rental history and professional management is already in place, supporting continuity for a new owner.
Located at 1165 Edgewood Dr in Ogden, the complex is positioned near commuter routes, local employers, shopping, dining, and recreation. Its 5,320 property size and multi-unit layout provide an established residential income asset with additional room for continued interior improvements.
Located at 1165 Edgewood Dr in Ogden, the complex is positioned near commuter routes, local employers, shopping, dining, and recreation. Its 5,320 property size and multi-unit layout provide an established residential income asset with additional room for continued interior improvements.
Key Highlights
- 12‑unit multifamily complex in Ogden
- All units currently rented
- Several units updated and remodeled
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
$108,662
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
5.05%
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%
$2,173,240
$2.2M
Cap Rate 7%
$1,552,314
$1.6M
Cap Rate 9%
$1,207,356
$1.2M
Market Conditions
NOI Build-Up for 12,616 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
$219.5K $17.40/SF
− Vacancy
−$22.0K −$1.74/SF
EGI
$197.6K $15.66/SF
− OpEx
−$88.9K −$7.05/SF
NOI
$108.7K $8.61/SF
Area
Weber County, UT
Vacancy
10.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
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%
$2,173,240
Cap Rate 7%
$1,552,314
Cap Rate 9%
$1,207,356
Alternative Uses
Best Use
Apartment 5plus
$1.55M
$1.36M – $1.81M
NOI $108,662 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.91M
$2.55M – $3.39M
NOI $203,685 @ 7.0% cap · market cap 9.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
12
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
710
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
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?
Apartment building - Fully occupied multifamily property with select remodeled units and professional management in place.
Where is this apartment building located?
The property is located at 1165 Edgewood Dr Ogden, UT.
What is the asking price?
The asking price for this property is $2,149,999.
What are key features of this property?
This property features: 12‑unit multifamily complex in Ogden; All units currently rented; Several units updated and remodeled
