Separately Metered
For Sale
$775,000
268 W 700 N, Salt Lake City, UT 84103
Each residence has its own furnace, water heater, laundry, and full bath.
Property Size2,268 SF
Price / SF$341.71
Days on Market10
Property Features for 268 W 700 N
General Information
Standard status
Active
Size
2,268 SF
Property subtype
Quadruplex
Property Condition
Severity
Repairs Needed
Evidence
This unit will need some work.
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Building Details
Building Size
2,268 SF
Year Built
1927
Listing Agency:
Paras Real Estate
(801) 913-5238
Listed By:
Richard Huntsman · License #6608967-PB00
(801) 913-5238
Source:
Liftrealty
Added: Aug 21
Changed: Aug 30
Last Checked: Aug 30 at 8:12AM
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 Paras Real Estate
Investment Insights
Based on property information with market context.
This quadplex contains four one-bedroom, one-bath residences arranged as two upper and two garden-level units. The layouts are consistent, with varying interior upgrades. Every residence includes an individual furnace, water heater, washer and dryer, full bath, double-pane windows, and separate gas and electric metering. The garden-level apartments feature full-size windows that bring natural light into each room. The property measures 2,268 square feet and was built in 1927, with a full roof replacement completed in Aug '24.
Located at 268 W 700 N in Salt Lake City’s Marmalade district, the property is within walking distance of downtown SLC, public transportation, and other amenities, with convenient freeway access. One residence is vacant and available for viewing, while another is expected to become available at the end of August and requires some work. The remaining two units are occupied on month-to-month arrangements.
Located at 268 W 700 N in Salt Lake City’s Marmalade district, the property is within walking distance of downtown SLC, public transportation, and other amenities, with convenient freeway access. One residence is vacant and available for viewing, while another is expected to become available at the end of August and requires some work. The remaining two units are occupied on month-to-month arrangements.
Key Highlights
- Four 1 bed/1 bath units arranged as 2 up and 2 down
- 2,268‑square‑foot quadplex built in 1927
- Full roof replacement completed in Aug '24
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
$30,246
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
3.90%
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%
$604,920
$604.9K
Cap Rate 7%
$432,086
$432.1K
Cap Rate 9%
$336,067
$336.1K
Market Conditions
NOI Build-Up for 2,268 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
$45.7K $20.16/SF
− Vacancy
−$2.5K −$1.11/SF
EGI
$43.2K $19.05/SF
− OpEx
−$13.0K −$5.72/SF
NOI
$30.2K $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%
$604,920
Cap Rate 7%
$432,086
Cap Rate 9%
$336,067
Alternative Uses
Best Use
Multifamily LT 5
$432.1K
$378.1K – $504.1K
NOI $30,246 @ 7.0% cap · market cap 3.90%
Second Best
Apartment 5plus
$401.4K
$351.2K – $468.3K
NOI $28,097 @ 7.0% cap · market cap 3.63%
Theoretical Best
Office A
$611.0K
$534.7K – $712.9K
NOI $42,772 @ 7.0% cap · market cap 5.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
593
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Each residence has its own furnace, water heater, laundry, and full bath.
Where is this quadplex located?
The property is located at 268 W 700 N Salt Lake City, UT.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Four 1 bed/1 bath units arranged as 2 up and 2 down; 2,268‑square‑foot quadplex built in 1927; Full roof replacement completed in Aug '24
