Duplex with 2022 Front Unit
2638 S 8990 W Unit 5-6, Magna, UT 84044
For Sale
$395,000
Duplex with individually metered gas and electricity, including a front unit remodeled in 2022 with updated finishes and appliances.
Property Size1,222 SF
Price / SF$323.24
Days on Market112
Property Features for 2638 S 8990 W Unit 5-6
General Information
Standard status
Size
Property subtype
Additional Details
Utilities to Site
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
BY-THE-NUMBERS Real Estate, Inc
(801) 970-2120
Listed By:
Stephen Thorpe · License UT #376914
(801) 550-3664
Source:
Liftrealty
Added: Jul 22
Changed: Nov 8
Last Checked: Nov 8 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 BY-THE-NUMBERS Real Estate, Inc
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Investment Insights
Based on property information with market context.
This duplex includes two individually metered units for gas and electricity. The front unit was remodeled in 2022 with new LVP flooring, updated appliances, countertops, fresh paint, and a new stacked washer/dryer.
The property was built in 1963. The total property size is listed as 1,222 square feet as a courtesy estimate from county records; buyers should verify all measurements independently.
Additional due diligence items include confirming the current condition of systems and finishes and verifying any details related to unit configuration and measurements during the inspection process.
The property was built in 1963. The total property size is listed as 1,222 square feet as a courtesy estimate from county records; buyers should verify all measurements independently.
Additional due diligence items include confirming the current condition of systems and finishes and verifying any details related to unit configuration and measurements during the inspection process.
Key Highlights
- Front unit remodeled in 2022 with new LVP flooring, appliances, countertops, paint, and stacked washer/dryer
- Individually metered for gas and electricity
- Built in 1963
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,139
Cap Rate
3.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$302,780
$302.8K
Cap Rate 7%
$216,271
$216.3K
Cap Rate 9%
$168,211
$168.2K
Market Conditions
NOI Build-Up for 1,222 SF
Gross rent
$29.0K $23.76/SF
− Vacancy
−$1.5K −$1.24/SF
EGI
$27.5K $22.52/SF
− OpEx
−$12.4K −$10.14/SF
NOI
$15.1K $12.39/SF
Area
Salt Lake County, UT
Vacancy
5.20%
Lease Rate
$23.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$302,780
Cap Rate 7%
$216,271
Cap Rate 9%
$168,211
Alternative Uses
Best Use
Apartment 5plus
$216.3K
$189.2K – $252.3K
NOI $15,139 @ 7.0% cap · market cap 3.83%
Second Best
Multifamily LT 5
$189.1K
$165.4K – $220.6K
NOI $13,234 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$329.2K
$288.1K – $384.1K
NOI $23,046 @ 7.0% cap · market cap 5.83%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
258
Businesses Nearby
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Business Placement
Demographics for 84044, UT
29,284
Population
9,057
Households
3.2
Avg Household Size
30
Median Age
14%
College-Educated
85%
High-School Grad
73.3 sq mi
ZIP Area
400
Density / Sq Mi
$87,516
Median Household Income
$41,853
Median Earnings
$1,623
Median Rent
$341,400
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Salt Lake County, UT
Properties on Market for Duplexes in Salt Lake County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Duplex with individually metered gas and electricity, including a front unit remodeled in 2022 with updated finishes and appliances.
Where is this duplex located?
The property is located at 2638 S 8990 W Unit 5-6 Magna, UT.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Front unit remodeled in 2022 with new LVP flooring, appliances, countertops, paint, and stacked washer/dryer; Individually metered for gas and electricity; Built in 1963
