Quadplex with Renovated
For Sale
$1,095,000
232 N 250 E, Orem, UT 84057
Four month-to-month apartments provide separate gas and electric meters, with three units featuring updated interiors.
Property Size2 SF
Lot Size0.25 Acres
Price / SF$263.22
Days on Market227
Property Features for 232 N 250 E
General Information
Standard status
Active
Size
2 SF
Total Parking Spaces
8
Lot size
0.25 Acres
Property subtype
Quadruplex
Occupancy
100%
Units
Unit Mix
4 x 2BR/1.5BA
Multifamily Units
4
Additional Details
Gross Income
$73,200
Utilities to Site
Yes
Building Details
Building Size
2 SF
Year Built
1969
Buildings
1
Tenancy
Multi
Listing Agency:
Selling Salt Lake
(801) 998-8568
Listed By:
Kian Torimi
(435) 200-5791
Source:
Liftrealty
Added: Feb 28
Changed: Oct 11
Last Checked: Oct 12 at 8:27PM
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 Selling Salt Lake
Investment Insights
Based on property information with market context.
This 4,160-square-foot quadplex contains four apartments, each configured with two bedrooms and 1.5 bathrooms. All four units are occupied on month-to-month terms. Each has a separate gas meter, power meter, water heater, and air conditioning; tenants pay their own gas and electricity. Three apartments have received interior updates, including quartz countertops, farmhouse sinks, newer appliances, LVP flooring, updated lighting, and fresh paint. Building improvements include a replacement furnace and water heater, along with electrical and plumbing updates. The fourth apartment retains its original finishes.
The property occupies a quarter-acre parcel in Orem and includes eight off-street parking spaces. Landscaping has also been refreshed.
The property occupies a quarter-acre parcel in Orem and includes eight off-street parking spaces. Landscaping has also been refreshed.
Key Highlights
- Four apartments, each with 2 bedrooms and 1.5 bathrooms
- 4,160‑square‑foot building on a quarter‑acre parcel
- All four units occupied on month‑to‑month terms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,377
Cap Rate
3.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$767,540
$767.5K
Cap Rate 7%
$548,243
$548.2K
Cap Rate 9%
$426,411
$426.4K
Market Conditions
NOI Build-Up for 4,160 SF
Gross rent
$57.4K $13.80/SF
− Vacancy
−$2.6K −$0.62/SF
EGI
$54.8K $13.18/SF
− OpEx
−$16.4K −$3.95/SF
NOI
$38.4K $9.23/SF
Area
Utah County, UT
Vacancy
4.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$767,540
Cap Rate 7%
$548,243
Cap Rate 9%
$426,411
Alternative Uses
Best Use
Multifamily LT 5
$548.2K
$479.7K – $639.6K
NOI $38,377 @ 7.0% cap · market cap 3.50%
Second Best
Apartment 5plus
$504.1K
$441.1K – $588.1K
NOI $35,286 @ 7.0% cap · market cap 3.22%
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,271 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,232
Businesses Nearby
Explore this area
Business Placement
Demographics for 84057, UT
38,401
Population
12,246
Households
3.1
Avg Household Size
29
Median Age
39%
College-Educated
93%
High-School Grad
6.2 sq mi
ZIP Area
6,194
Density / Sq Mi
$80,184
Median Household Income
$36,429
Median Earnings
$1,408
Median Rent
$398,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four month-to-month apartments provide separate gas and electric meters, with three units featuring updated interiors.
Where is this quadplex located?
The property is located at 232 N 250 E Orem, UT.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 1.5 bathrooms; 4,160‑square‑foot building on a quarter‑acre parcel; All four units occupied on month‑to‑month terms
