Remodeled 4-Unit
New
For Sale
$695,000
16 N 100 W St W, Tooele, UT 84074
Two apartments have updated kitchens and bathrooms, alongside two additional units in good condition.
Property Size2,574 SF
Price / SF$270.01
Days on Market4
Property Features for 16 N 100 W St W
General Information
Standard status
Active
Size
2,574 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Building Details
Year Built
1927
Buildings
1
Listing Agency:
Jason Mitchell Real Estate Utah LLC
Listed By:
Belknap Team
(385) 352-6210
Source:
Forsaleutahrealestate
Added: Sep 24
Changed: Sep 27
Last Checked: Sep 26 at 6:38AM
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 Jason Mitchell Real Estate Utah LLC
Investment Insights
Based on property information with market context.
This 2,574-square-foot quadplex, built in 1927, contains four apartments, each with one bedroom and one bathroom. Two units have remodeled interiors, including new flooring, baseboards, casing, paint, and interior doors. Their kitchens have white shaker cabinetry, quartz counters, and stainless steel appliances; bathroom updates include tile, vanities, and toilets. The other two apartments are described as being in good condition. The roof was installed two years ago, and the exterior has been repainted.
The property is at 16 N 100 W St W in Tooele, with shopping, dining, services, and transportation described as nearby.
The property is at 16 N 100 W St W in Tooele, with shopping, dining, services, and transportation described as nearby.
Key Highlights
- Four apartments, each with one bedroom and one bathroom
- 2,574 square feet; built in 1927
- Two remodeled units feature quartz counters, white shaker cabinets, and stainless steel appliances
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
$27,876
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
4.01%
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%
$557,520
$557.5K
Cap Rate 7%
$398,229
$398.2K
Cap Rate 9%
$309,733
$309.7K
Market Conditions
NOI Build-Up for 2,574 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
$41.7K $16.20/SF
− Vacancy
−$1.9K −$0.73/SF
EGI
$39.8K $15.47/SF
− OpEx
−$11.9K −$4.64/SF
NOI
$27.9K $10.83/SF
Area
Tooele County, UT
Vacancy
4.50%
Lease Rate
$16.20 /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%
$557,520
Cap Rate 7%
$398,229
Cap Rate 9%
$309,733
Alternative Uses
Best Use
Multifamily LT 5
$398.2K
$348.5K – $464.6K
NOI $27,876 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$359.4K
$314.5K – $419.3K
NOI $25,160 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$693.5K
$606.8K – $809.1K
NOI $48,543 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
841
Businesses Nearby
Explore this area
Business Placement
Demographics for 84074, UT
55,001
Population
18,128
Households
3
Avg Household Size
31
Median Age
24%
College-Educated
93%
High-School Grad
174.3 sq mi
ZIP Area
316
Density / Sq Mi
$102,313
Median Household Income
$47,385
Median Earnings
$1,197
Median Rent
$383,300
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 - Two apartments have updated kitchens and bathrooms, alongside two additional units in good condition.
Where is this quadplex located?
The property is located at 16 N 100 W St W Tooele, UT.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Four apartments, each with one bedroom and one bathroom; 2,574 square feet; built in 1927; Two remodeled units feature quartz counters, white shaker cabinets, and stainless steel appliances
