Updated Four-Unit
For Sale
$995,000
315 N F ST, Salt Lake City, UT 84103
Built in 1927, the property combines refreshed interiors, separate metering, and established tenant occupancy.
Property Size3,510 SF
Days on Market26
Property Features for 315 N F ST
General Information
Standard status
Active
Size
3,510 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$3,993
Building Details
Building Size
3,510 SF
Year Built
1927
Listing Agency:
REDFIN CORPORATION
(505) 231-7800
Listed By:
Daniel Lopez · License #9852622-SA00
Source:
Acresutah
Added: Aug 5
Changed: Aug 29
Last Checked: Aug 29 at 6:25PM
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 REDFIN CORPORATION
Investment Insights
Based on property information with market context.
Constructed in 1927, this quadplex contains four residential units. Units 317 A and 317 B have updated living spaces and are supported by a newer AC unit and HVAC system. Unit 315 A offers one bedroom, one bathroom, a generous living area, kitchen, front entry, and private rear access. Units 315 A and 315 B are separately metered, while established tenancy on the left side provides current occupancy.
The property is located at 315 N F St in Salt Lake City’s Avenues area. Local cafes, downtown Salt Lake City, and Memory Grove are within walking distance.
The property is located at 315 N F St in Salt Lake City’s Avenues area. Local cafes, downtown Salt Lake City, and Memory Grove are within walking distance.
Key Highlights
- Four‑unit quadplex built in 1927
- Updated interiors in units 317 A and 317 B
- Newer AC unit and HVAC system serving the right‑side units
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
$46,809
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
4.70%
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%
$936,180
$936.2K
Cap Rate 7%
$668,700
$668.7K
Cap Rate 9%
$520,100
$520.1K
Market Conditions
NOI Build-Up for 3,510 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
$70.8K $20.16/SF
− Vacancy
−$3.9K −$1.11/SF
EGI
$66.9K $19.05/SF
− OpEx
−$20.1K −$5.72/SF
NOI
$46.8K $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%
$936,180
Cap Rate 7%
$668,700
Cap Rate 9%
$520,100
Alternative Uses
Best Use
Multifamily LT 5
$668.7K
$585.1K – $780.2K
NOI $46,809 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$621.2K
$543.6K – $724.7K
NOI $43,484 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$945.6K
$827.4K – $1.10M
NOI $66,195 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,638
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 - Built in 1927, the property combines refreshed interiors, separate metering, and established tenant occupancy.
Where is this quadplex located?
The property is located at 315 N F ST Salt Lake City, UT.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Four‑unit quadplex built in 1927; Updated interiors in units 317 A and 317 B; Newer AC unit and HVAC system serving the right‑side units
