Turn-of-Century Fourplex with Detached
1631 S 500 E Salt Lake City, UT 84105
1631 S 500 E, Salt Lake City, UT, 84105
$814,900
For Sale
$814,900
Legal non-conforming fourplex includes a newly completed roof, detached garage with storage, and extensive on-site parking.
Property Size2,532 SF
Price / SF$321.84
Days on Market62
Property Features for 1631 S 500 E
General Information
- Standard status
- Active
- Size
- 2,532 SF
- Property subtype
- Quadruplex
Building Details
- Year Built
- 1902
Listing agency
MJA Real Estate, LLC
(385) 800-8574
Listed by
Leilani Cole
(385) 800-8574
Source
Liftrealty
Added: May 22 Updated: Jul 21 at 2:04AM Checked: Jul 22 at 5:07AM
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 MJA Real Estate, LLC
Investment Insights
Based on property information with market context.
Turn-of-the-century legal non-conforming fourplex offered for sale at 1631 S 500 E, Salt Lake City, UT 84105. The property has a brand-new roof completed over the Memorial Day weekend. All four units have an established rental history described as having virtually no vacancy over the past 10+ years. The home also features a large detached garage with additional storage space, which may support additional income opportunities. Parking is available both at the back of the home and in the area adjacent to the backyard.
According to the provided remarks, the property is located just blocks from Liberty Park with access to downtown, freeway connections, dining, shopping, and everyday conveniences.
Three units are tenant occupied and may be shown only upon receipt of an accepted offer. Offers are subject to inspection, and buyers are advised to obtain an independent measurement; square footage figures are provided as a courtesy estimate and were obtained from an appraiser measurement completed in May 2026.
According to the provided remarks, the property is located just blocks from Liberty Park with access to downtown, freeway connections, dining, shopping, and everyday conveniences.
Three units are tenant occupied and may be shown only upon receipt of an accepted offer. Offers are subject to inspection, and buyers are advised to obtain an independent measurement; square footage figures are provided as a courtesy estimate and were obtained from an appraiser measurement completed in May 2026.
Key Highlights
- Legal non‑conforming fourplex built in 1902 with a newly completed roof (completed over Memorial Day weekend)
- Four units have an outstanding rental history with virtually no vacancy over the past 10+ years
- Large detached garage includes additional storage space and potential added income
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $51.0k | $20.16 |
| − Vacancy | −$2.8k | −$1.11 |
| EGI | $48.2k | $19.05 |
| − OpEx | −$14.5k | −$5.72 |
| NOI | $33.8k | $13.34 |
2,532 SF · lease $20.16/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$482.4K
$422.1K – $562.8K
NOI $33,766 @ 7.0% cap · market cap 4.14%
Second Best
Apartment 5plus
$448.1K
$392.1K – $522.8K
NOI $31,368 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$682.2K
$596.9K – $795.9K
NOI $47,751 @ 7.0% cap · market cap 5.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Legal non-conforming fourplex includes a newly completed roof, detached garage with storage, and extensive on-site parking.
Where is this quadplex located?
The property is located at 1631 S 500 E Salt Lake City, UT.
What is the asking price?
The asking price for this property is $814,900.
What are key features of this property?
This property features: Legal non‑conforming fourplex built in 1902 with a newly completed roof (completed over Memorial Day weekend); Four units have an outstanding rental history with virtually no vacancy over the past 10+ years; Large detached garage includes additional storage space and potential added income
