Remodeled Duplex with Two
New
For Sale
$680,000
254 E 700 S, Salt Lake City, UT 84111
Updated interiors include separate living areas and walkout access.
Property Size3,159 SF
Price / SF$215.26
Days on Market7
Property Features for 254 E 700 S
General Information
Standard status
Active
Size
3,159 SF
Property subtype
Duplex
Additional Details
Gross Income
$45,600
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,361
Building Details
Building Size
3,159 SF
Year Built
1912
Buildings
1
Listing Agency:
Fathom Realty (Union Park)
Listed By:
Craig Lisonbee
(801) 718-2499
Source:
Acresutah
Added: Sep 2
Changed: Sep 6
Last Checked: Sep 7 at 6:48AM
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 Fathom Realty (Union Park)
Investment Insights
Based on property information with market context.
This nonconforming-use duplex offers approximately 3,159 square feet with 6 bedrooms, 2 bathrooms, two kitchens, and separate living areas. Recent improvements include flooring, kitchen cabinets, and countertops. Walkout access adds a practical point of entry, while the two-unit configuration supports occupancy by an owner or separate rental use.
The property is located at 254 E 700 S in Salt Lake City, near downtown, Liberty Park, dining, shopping, and neighborhood amenities. The building was constructed in 1912. The duplex is being marketed as a nonconforming use, with unit configuration, zoning, permits, leases, expenses, rents, and legal use subject to buyer and buyer’s agent verification.
The property is located at 254 E 700 S in Salt Lake City, near downtown, Liberty Park, dining, shopping, and neighborhood amenities. The building was constructed in 1912. The duplex is being marketed as a nonconforming use, with unit configuration, zoning, permits, leases, expenses, rents, and legal use subject to buyer and buyer’s agent verification.
Key Highlights
- Approximately 3,159 square feet with 6 bedrooms and 2 bathrooms
- Nonconforming‑use duplex with two kitchens and separate living areas
- Updated flooring, kitchen cabinets, and countertops
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
$42,128
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
6.20%
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%
$842,560
$842.6K
Cap Rate 7%
$601,829
$601.8K
Cap Rate 9%
$468,089
$468.1K
Market Conditions
NOI Build-Up for 3,159 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
$63.7K $20.16/SF
− Vacancy
−$3.5K −$1.11/SF
EGI
$60.2K $19.05/SF
− OpEx
−$18.1K −$5.72/SF
NOI
$42.1K $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%
$842,560
Cap Rate 7%
$601,829
Cap Rate 9%
$468,089
Alternative Uses
Best Use
Multifamily LT 5
$601.8K
$526.6K – $702.1K
NOI $42,128 @ 7.0% cap · market cap 6.20%
Second Best
Apartment 5plus
$559.1K
$489.2K – $652.3K
NOI $39,135 @ 7.0% cap · market cap 5.76%
Theoretical Best
Office A
$851.1K
$744.7K – $992.9K
NOI $59,576 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,968
Businesses Nearby
Explore this area
Business Placement
Demographics for 84111, UT
12,162
Population
8,635
Households
1.4
Avg Household Size
34
Median Age
55%
College-Educated
95%
High-School Grad
1.4 sq mi
ZIP Area
8,687
Density / Sq Mi
$57,188
Median Household Income
$49,490
Median Earnings
$1,294
Median Rent
$423,000
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?
Duplex - Updated interiors include separate living areas and walkout access.
Where is this duplex located?
The property is located at 254 E 700 S Salt Lake City, UT.
What is the asking price?
The asking price for this property is $680,000.
What are key features of this property?
This property features: Approximately 3,159 square feet with 6 bedrooms and 2 bathrooms; Nonconforming‑use duplex with two kitchens and separate living areas; Updated flooring, kitchen cabinets, and countertops
