Four-Unit Multifamily
232 E 400 N, Provo, UT 84606
For Sale
$845,000
Residential, Provo, UT
Property Size2,560 SF
Lot Size0.14 Acres
Price / SF$330.08
Days on Market272
Property Features for 232 E 400 N
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Window features
Interior features
Lot features
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Subdivision
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Utilities
Sewer type
Building Details
Year built
Number of units
Roof type
Architectural style
Listing Agency:
Stringham West Realty
Listed By:
Richard Stringham · License UT #5498546
(801) 377-8140
Added: Feb 12
Changed: Oct 23
Last Checked: Nov 10 at 9:06PM
MLS# 2136770
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Investment Insights
Based on property information with market context.
Built in 1934, this 2,560-square-foot multifamily property contains four one-bedroom, one-bath units with efficient layouts. The rear of the property includes four storage units, providing additional functional space. Improvements include an asphalt roof, public sewer service, and a freestanding range/oven in each unit.
The property occupies 0.14 acres at 232 E 400 N in Provo, Utah, near Brigham Young University, shopping, dining, and campus-oriented activity. Multi-Family zoning supports the property's four-unit configuration.
The property occupies 0.14 acres at 232 E 400 N in Provo, Utah, near Brigham Young University, shopping, dining, and campus-oriented activity. Multi-Family zoning supports the property's four-unit configuration.
Key Highlights
- Four one‑bedroom, one‑bath units
- 2,560 square feet on 0.14 acres
- Four rear storage units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,596
Cap Rate
3.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$551,920
$551.9K
Cap Rate 7%
$394,229
$394.2K
Cap Rate 9%
$306,622
$306.6K
Market Conditions
NOI Build-Up for 2,560 SF
Gross rent
$41.5K $16.20/SF
− Vacancy
−$2.0K −$0.80/SF
EGI
$39.4K $15.40/SF
− OpEx
−$11.8K −$4.62/SF
NOI
$27.6K $10.78/SF
Area
Provo, UT
Vacancy
4.94%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$551,920
Cap Rate 7%
$394,229
Cap Rate 9%
$306,622
Alternative Uses
Best Use
Multifamily LT 5
$394.2K
$345.0K – $459.9K
NOI $27,596 @ 7.0% cap · market cap 3.27%
Second Best
Apartment 5plus
$361.5K
$316.4K – $421.8K
NOI $25,308 @ 7.0% cap · market cap 3.00%
Theoretical Best
Office A
$706.0K
$617.8K – $823.7K
NOI $49,423 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,553
Businesses Nearby
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Business Placement
Demographics for 84606, UT
33,791
Population
11,428
Households
3
Avg Household Size
25
Median Age
45%
College-Educated
95%
High-School Grad
11.6 sq mi
ZIP Area
2,913
Density / Sq Mi
$52,110
Median Household Income
$14,955
Median Earnings
$1,149
Median Rent
$407,600
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Utah County, UT
Properties on Market for Quadplexes in Utah County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom apartments with four additional storage units near BYU campus.
Where is this quadplex located?
The property is located at 232 E 400 N Provo, UT.
What is the asking price?
The asking price for this property is $845,000.
What are key features of this property?
This property features: Four one‑bedroom, one‑bath units; 2,560 square feet on 0.14 acres; Four rear storage units
