Renovated Quadplex with Covered
For Sale
$900,000
1794 W 400 N, Salt Lake City, UT 84116
Residential, Salt Lake City, UT
Property Size3,584 SF
Lot Size0.20 Acres
Price / SF$251.12
Days on Market197
Property Features for 1794 W 400 N
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Multi-Family
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 3, Bedroom 2, Bedroom 6, Bedroom 5, Bathroom 2, Bedroom 7, Bathroom 1, Bedroom 8, Bedroom 4, Bathroom 4, Bedroom 1
Parking features
Covered
Window features
Blinds
Lot features
Curb & Gutter, Fenced: Part, Road: Paved, Sidewalks
Elementary school
Meadowlark
Middle school
Northwest
High school
West
Elementary school district
Salt Lake
Middle school district
Salt Lake
High school district
Salt Lake
Subdivision
Salt Lake City; Rose Park
Standard status
Active
APN
08-34-177-019
Size
3,584 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
3652
Utilities
Heating system
Central, Natural Gas
Amenities
In-Unit Washer/Dryer Hook-Ups
Washers/Dryers (for 3 units)
Fridges included
Building Details
Year built
1973
Number of units
4
Flooring type
Carpet, Tile, Laminate
Building materials
Brick
Roof type
Membrane
Architectural style
Other
Listing Agency:
Equity Real Estate
(800) 785-9995
Listed By:
Brady Newswander · License #9368465
(801) 651-3071
Added: Feb 7
Changed: Aug 20
Last Checked: Aug 23 at 12:06PM
MLS# 2135892
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.
This brick quadplex contains 3,584 square feet and was built in 1973. The property offers two-bedroom, one-bath units with carpet, tile, and laminate flooring, central natural-gas heating, and in-unit washer and dryer hookups. Recent improvements include a new membrane roof, new carpet, and new paint. Refrigerators are included, and three units have washers and dryers. Covered off-street parking provides on-site vehicle storage.
The 0.2-acre property is located approximately 100 feet from a park and within walking distance of shopping, dining, parks, and recreation. Freeway access and downtown Salt Lake City are minutes away. All units are occupied under 12-month leases, and the property carries a 6.8% cap rate. Multi-Family zoning supports the existing residential income use.
The 0.2-acre property is located approximately 100 feet from a park and within walking distance of shopping, dining, parks, and recreation. Freeway access and downtown Salt Lake City are minutes away. All units are occupied under 12-month leases, and the property carries a 6.8% cap rate. Multi-Family zoning supports the existing residential income use.
Key Highlights
- Quadplex with 3,584 square feet on 0.2 acres
- Two‑bedroom, one‑bath unit configuration
- All units rented under 12‑month leases
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
$47,796
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
5.31%
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%
$955,920
$955.9K
Cap Rate 7%
$682,800
$682.8K
Cap Rate 9%
$531,067
$531.1K
Market Conditions
NOI Build-Up for 3,584 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
$72.3K $20.16/SF
− Vacancy
−$4.0K −$1.11/SF
EGI
$68.3K $19.05/SF
− OpEx
−$20.5K −$5.72/SF
NOI
$47.8K $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%
$955,920
Cap Rate 7%
$682,800
Cap Rate 9%
$531,067
Alternative Uses
Best Use
Multifamily LT 5
$682.8K
$597.5K – $796.6K
NOI $47,796 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$634.3K
$555.0K – $740.0K
NOI $44,400 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$965.6K
$844.9K – $1.13M
NOI $67,591 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
587
Businesses Nearby
Explore this area
Business Placement
Demographics for 84116, UT
35,327
Population
14,487
Households
2.4
Avg Household Size
31
Median Age
24%
College-Educated
82%
High-School Grad
50.3 sq mi
ZIP Area
702
Density / Sq Mi
$69,604
Median Household Income
$38,492
Median Earnings
$1,280
Median Rent
$334,900
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 - Brick multifamily property with updated interiors, tenant occupancy, and convenient access to parks, shopping, dining, and downtown.
Where is this quadplex located?
The property is located at 1794 W 400 N Salt Lake City, UT.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Quadplex with 3,584 square feet on 0.2 acres; Two‑bedroom, one‑bath unit configuration; All units rented under 12‑month leases
