Updated Fourplex with
For Sale
$865,000
1470 S EDISON ST, Salt Lake City, UT 84115
Four-unit residential income property with refreshed interiors, separate utility metering, off-street parking, and tenant storage space.
Property Size2 SF
Price / SF$317.31
Days on Market9
Property Features for 1470 S EDISON ST
General Information
Standard status
Active
Size
2 SF
Total Parking Spaces
7
Property subtype
Quadruplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
4
Amenities
Google Fiber
Building Details
Building Size
2 SF
Year Built
1923
Buildings
1
Listing Agency:
KW WESTFIELD
(801) 860-1166
Listed By:
Jeff Eaves
(801) 860-1166
Source:
Liftrealty
Added: Aug 14
Changed: Aug 22
Last Checked: Aug 22 at 5:54AM
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 WESTFIELD
Investment Insights
Based on property information with market context.
This 1923-built quadplex contains four residential units with updates to kitchens, bathrooms, flooring, and many windows. Each unit has separate gas and electric meters, while two units have Google Fiber service. The property also includes seven off-street parking spaces behind the building and a 690-square-foot cellar divided into five 5x8 storage compartments.
Located in Salt Lake City's Ballpark neighborhood, the property is within walking distance of Salt Lake Community College's South City Campus and two blocks from Smith's Ballpark. Downtown, Liberty Park, TRAX, freeways, and the airport are accessible from the property. The Ballpark Next plan includes approved rezoning, planned multifamily and senior housing, a hotel, retail, a library, and a fire station, with groundbreaking targeted for mid to late 2026.
Located in Salt Lake City's Ballpark neighborhood, the property is within walking distance of Salt Lake Community College's South City Campus and two blocks from Smith's Ballpark. Downtown, Liberty Park, TRAX, freeways, and the airport are accessible from the property. The Ballpark Next plan includes approved rezoning, planned multifamily and senior housing, a hotel, retail, a library, and a fire station, with groundbreaking targeted for mid to late 2026.
Key Highlights
- Four‑unit quadplex built in 1923
- Updated kitchens, bathrooms, flooring, and many windows
- Separate gas and electric meters for each unit
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
$36,353
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
4.20%
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%
$727,060
$727.1K
Cap Rate 7%
$519,329
$519.3K
Cap Rate 9%
$403,922
$403.9K
Market Conditions
NOI Build-Up for 2,726 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
$55.0K $20.16/SF
− Vacancy
−$3.0K −$1.11/SF
EGI
$51.9K $19.05/SF
− OpEx
−$15.6K −$5.72/SF
NOI
$36.4K $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%
$727,060
Cap Rate 7%
$519,329
Cap Rate 9%
$403,922
Alternative Uses
Best Use
Multifamily LT 5
$519.3K
$454.4K – $605.9K
NOI $36,353 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$482.4K
$422.1K – $562.9K
NOI $33,771 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$734.4K
$642.6K – $856.8K
NOI $51,410 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,330
Businesses Nearby
Explore this area
Business Placement
Demographics for 84115, UT
27,588
Population
13,899
Households
2
Avg Household Size
33
Median Age
33%
College-Educated
85%
High-School Grad
6.1 sq mi
ZIP Area
4,523
Density / Sq Mi
$61,505
Median Household Income
$43,785
Median Earnings
$1,263
Median Rent
$396,200
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?
Quadplex - Four-unit residential income property with refreshed interiors, separate utility metering, off-street parking, and tenant storage space.
Where is this quadplex located?
The property is located at 1470 S EDISON ST Salt Lake City, UT.
What is the asking price?
The asking price for this property is $865,000.
What are key features of this property?
This property features: Four‑unit quadplex built in 1923; Updated kitchens, bathrooms, flooring, and many windows; Separate gas and electric meters for each unit
