Brick Triplex with Covered
For Sale
$950,000
22 W 300 N, Salt Lake City, UT 84103
Residential, Salt Lake City, UT
Property Size2,631 SF
Lot Size0.08 Acres
Price / SF$361.08
Days on Market101
Property Features for 22 W 300 N
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
Single-Family
Zoning description
1208
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 2, Bedroom 5, Bedroom 1, Bedroom 4, Bathroom 3, Bathroom 1, Bedroom 3
Parking
5
Parking features
Covered
Window features
Blinds
Patio and Porch features
Patio
Interior features
Disposal, Kitchen: Updated, Range/Oven: Free Stdng., Dishwasher: Built-In
Exterior features
Balcony, Basement Entrance, Double Pane Windows, Walkout, Patio: Open
Subdivision
BLK 012 E
Lot features
Curb & Gutter, Fenced: Full, Sidewalks, Terrain: Grad Slope
Elementary school
Washington
Middle school
Bryant
High school
West
Elementary school district
Salt Lake
Middle school district
Salt Lake
High school district
Salt Lake
Standard status
Active
APN
08-36-429-009
Size
2,631 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
3442
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas, Electric (Heating), Central
Building Details
Year built
1912
Number of units
3
Flooring type
Tile, Carpet, Hardwood
Building materials
Brick, Concrete
Roof type
Asphalt
Architectural style
Other
Listing Agency:
KW Utah Realtors Keller Williams · Keller Williams Realty
(801) 858-0000
Listed By:
Cameron Burnside · License #5488326
(801) 858-0000
Added: May 21
Changed: Aug 22
Last Checked: Aug 29 at 12:06AM
MLS# 2159708
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 Salt Lake City triplex contains 2,631 square feet on a 0.08-acre lot, with five bedrooms and three bathrooms in total. Built in 1912, the property features brick and concrete construction, hardwood, tile, and carpet flooring, along with updated kitchen finishes, a freestanding range, built-in dishwasher, and disposal. Exterior details include balconies, an open patio, double-pane windows, a basement entrance, and walkout access. Heating features include natural gas, electric, forced air, and central systems. Covered parking is provided, with public sewer service and an asphalt roof.
The property is located at 22 W 300 N in Salt Lake City, near restaurants, entertainment, TRAX, and the University of Utah. Zoning is identified as Single-Family.
The property is located at 22 W 300 N in Salt Lake City, near restaurants, entertainment, TRAX, and the University of Utah. Zoning is identified as Single-Family.
Key Highlights
- Triplex with 2,631 square feet on a 0.08‑acre lot
- Five bedrooms and three bathrooms total
- Built in 1912 with brick and concrete construction
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
$35,087
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
3.69%
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%
$701,740
$701.7K
Cap Rate 7%
$501,243
$501.2K
Cap Rate 9%
$389,856
$389.9K
Market Conditions
NOI Build-Up for 2,631 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
$53.0K $20.16/SF
− Vacancy
−$2.9K −$1.11/SF
EGI
$50.1K $19.05/SF
− OpEx
−$15.0K −$5.72/SF
NOI
$35.1K $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%
$701,740
Cap Rate 7%
$501,243
Cap Rate 9%
$389,856
Alternative Uses
Best Use
Multifamily LT 5
$501.2K
$438.6K – $584.8K
NOI $35,087 @ 7.0% cap · market cap 3.69%
Second Best
Apartment 5plus
$465.6K
$407.4K – $543.2K
NOI $32,594 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$708.8K
$620.2K – $827.0K
NOI $49,618 @ 7.0% cap · market cap 5.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,065
Businesses Nearby
Explore this area
Business Placement
Demographics for 84103, UT
22,788
Population
13,528
Households
1.7
Avg Household Size
36
Median Age
66%
College-Educated
98%
High-School Grad
20.5 sq mi
ZIP Area
1,112
Density / Sq Mi
$81,386
Median Household Income
$54,787
Median Earnings
$1,374
Median Rent
$710,700
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?
Triplex - Three-unit residential property with an updated kitchen, walkout access, and covered parking.
Where is this triplex located?
The property is located at 22 W 300 N Salt Lake City, UT.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Triplex with 2,631 square feet on a 0.08‑acre lot; Five bedrooms and three bathrooms total; Built in 1912 with brick and concrete construction
