Updated-Interior
For Sale
$865,000
1470 S EDISON St, Salt Lake City, UT 84115
Residential, Salt Lake City, UT
Property Size2,726 SF
Lot Size0.16 Acres
Price / SF$317.31
Days on Market16
Property Features for 1470 S EDISON St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Multi-Family, Commercial
Zoning description
R1500
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 2, Bedroom 3, Bedroom 6, Bedroom 1, Bedroom 5, Bathroom 1, Bathroom 4, Bedroom 4, Bathroom 3
Parking
7
Parking features
Covered
Window features
Blinds
Patio and Porch features
Deck
Interior features
Kitchen: Updated, Oven: Gas, Range: Gas
Exterior features
Balcony, Basement Entrance, Deck; Covered, Double Pane Windows, Lighting
Subdivision
CAPITOL
Lot features
Curb & Gutter, Fenced: Full, Road: Paved, Sidewalks, Sprinkler: Auto- Part, View: Mountain
Elementary school
Whittier
Middle school
Hillside
High school
Highland
Elementary school district
Salt Lake
Middle school district
Salt Lake
High school district
Salt Lake
Standard status
Active
APN
16-18-106-010
Size
2,726 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
4479
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central, Forced Air
Amenities
Google Fiber
cellar storage
mountain views
Building Details
Year built
1923
Floors in Building
2
Number of units
4
Flooring type
Carpet, Tile, Laminate
Building materials
Brick, Cedar
Roof type
Asphalt
Architectural style
Other
Listing Agency:
KW WESTFIELD · Keller Williams Realty
(801) 850-5600
Listed By:
Jeff Eaves
(801) 860-1166
Added: Aug 14
Changed: Aug 22
Last Checked: Aug 29 at 9:06AM
MLS# 2179617
Copyright © 2026 UtahRealEstate.com. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1923, this 2,726-square-foot quadplex contains four residential units and has received updates to its kitchens, bathrooms, flooring, and many windows. Each unit has separate gas and electric meters, while two units have Google Fiber. The building includes covered outdoor areas, double-pane windows, gas forced-air heating, and a 690-square-foot cellar with five 5x8 storage compartments. The cellar can be rented to tenants for $25 each per month.
The 0.16-acre property is located in Salt Lake City's Ballpark neighborhood, near Salt Lake Community College's South City Campus and Smith's Ballpark. Seven off-street parking spaces are located behind the building. The property is zoned Multi-Family, Commercial, with access to downtown, Liberty Park, TRAX, freeways, and the airport.
The 0.16-acre property is located in Salt Lake City's Ballpark neighborhood, near Salt Lake Community College's South City Campus and Smith's Ballpark. Seven off-street parking spaces are located behind the building. The property is zoned Multi-Family, Commercial, with access to downtown, Liberty Park, TRAX, freeways, and the airport.
Key Highlights
- Four residential units within a 2,726‑square‑foot quadplex
- 690‑square‑foot cellar with five 5x8 storage compartments
- Seven off‑street parking spaces behind the building
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
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 separate utility metering, off-street parking, and a rentable storage cellar.
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 residential units within a 2,726‑square‑foot quadplex; 690‑square‑foot cellar with five 5x8 storage compartments; Seven off‑street parking spaces behind the building
