Four-Unit Multifamily
For Sale
$699,000
739 24TH ST, Ogden, UT 84401
Updated unit mix includes a studio, one-bedroom residences, and a three-bedroom, two-bath residence.
Property Size3,331 SF
Price / SF$209.85
Days on Market567
Property Features for 739 24TH ST
General Information
Standard status
Active
Size
3,331 SF
Property subtype
Fourplex
Units
Unit Mix
2 x 1BR, 1 x studio, 1 x 3BR/2BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,731
Amenities
laundry in each unit
zero-maintenance yard
Vinyl
3
Window Blinds
Membrane
4 Parking Spaces.
Brick
0.0x0.0x0.0
Building Details
Year Built
1887
Buildings
2
Listing Agency:
Sovereign Collective, LLC
Listed By:
Alyssa Holbrook
Source:
Xome
Added: Feb 13, 2025
Changed: Sep 2
Last Checked: Sep 2 at 1:39PM
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 Sovereign Collective, LLC
Investment Insights
Based on property information with market context.
This multifamily property includes two buildings with four total units and 3,331 square feet of property size. The front building at 739 24th contains two one-bedroom units on the main level and a studio above. The rear building at 743 24th offers a three-bedroom, two-bath unit. Recent improvements include refreshed kitchens with quartz countertops and stainless steel appliances, updated bathrooms, new doors, flooring, resurfaced and painted walls, and added laundry in each unit. The property also includes a new mini-split, a new deck, and replacement windows on the rear building.
The property is positioned between Weber State University and Historic 25th Street in Ogden. Exterior features include brick construction and four parking spaces.
The property is positioned between Weber State University and Historic 25th Street in Ogden. Exterior features include brick construction and four parking spaces.
Key Highlights
- Two buildings with four units totaling 3,331 square feet
- Unit mix includes two one‑bedroom units, one studio, and one three‑bedroom, two‑bath unit
- Quartz countertops and stainless steel appliances in updated kitchens
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
$28,690
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
4.10%
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%
$573,800
$573.8K
Cap Rate 7%
$409,857
$409.9K
Cap Rate 9%
$318,778
$318.8K
Market Conditions
NOI Build-Up for 3,331 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
$58.0K $17.40/SF
− Vacancy
−$5.8K −$1.74/SF
EGI
$52.2K $15.66/SF
− OpEx
−$23.5K −$7.05/SF
NOI
$28.7K $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%
$573,800
Cap Rate 7%
$409,857
Cap Rate 9%
$318,778
Alternative Uses
Best Use
Apartment 5plus
$409.9K
$358.6K – $478.2K
NOI $28,690 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$768.3K
$672.2K – $896.3K
NOI $53,779 @ 7.0% cap · market cap 7.69%
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
1,253
Businesses Nearby
Explore this area
Business Placement
Demographics for 84401, UT
42,968
Population
18,615
Households
2.3
Avg Household Size
32
Median Age
26%
College-Educated
90%
High-School Grad
30.7 sq mi
ZIP Area
1,400
Density / Sq Mi
$77,333
Median Household Income
$41,295
Median Earnings
$1,179
Median Rent
$410,700
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?
Multifamily property - Updated unit mix includes a studio, one-bedroom residences, and a three-bedroom, two-bath residence.
Where is this multifamily property located?
The property is located at 739 24TH ST Ogden, UT.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two buildings with four units totaling 3,331 square feet; Unit mix includes two one‑bedroom units, one studio, and one three‑bedroom, two‑bath unit; Quartz countertops and stainless steel appliances in updated kitchens
