Well-Maintained Quadplex
For Sale
$925,000
341 E 950 S, Springville, UT 84663
Well-maintained quadplex centrally located in Springville, offered for sale; all information is subject to buyer verification.
Property Size3,584 SF
Price / SF$258.09
Days on Market77
Property Features for 341 E 950 S
General Information
Standard status
Active
Size
3,584 SF
Property subtype
Quadruplex
Building Details
Building Size
3,584 SF
Year Built
1977
Listing Agency:
KW WESTFIELD
(801) 850-5600
Listed By:
Layne Thompson
(801) 717-0906
Source:
Liftrealty
Added: Jun 29
Changed: Sep 12
Last Checked: Sep 12 at 6:22AM
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 KW WESTFIELD
Investment Insights
Based on property information with market context.
This for-sale quadplex is described as well maintained. The property is being offered as a residential income investment, with information provided as a courtesy and subject to buyer verification.
The asset is located at 341 E 950 S in Springville, Utah, and the remarks indicate it is centrally located within the area.
For buyers interested in owner occupancy, the public remarks note that FHA owner-occupancy guidelines may allow for an owner-occupied unit. Interested parties should confirm eligibility and all details during their due diligence.
The asset is located at 341 E 950 S in Springville, Utah, and the remarks indicate it is centrally located within the area.
For buyers interested in owner occupancy, the public remarks note that FHA owner-occupancy guidelines may allow for an owner-occupied unit. Interested parties should confirm eligibility and all details during their due diligence.
Key Highlights
- Quadplex built in 1977
- Well‑maintained apartments
- Centrally located in Springville
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
$33,063
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
3.57%
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%
$661,260
$661.3K
Cap Rate 7%
$472,329
$472.3K
Cap Rate 9%
$367,367
$367.4K
Market Conditions
NOI Build-Up for 3,584 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
$49.5K $13.80/SF
− Vacancy
−$2.2K −$0.62/SF
EGI
$47.2K $13.18/SF
− OpEx
−$14.2K −$3.95/SF
NOI
$33.1K $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 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%
$661,260
Cap Rate 7%
$472,329
Cap Rate 9%
$367,367
Alternative Uses
Best Use
Multifamily LT 5
$472.3K
$413.3K – $551.1K
NOI $33,063 @ 7.0% cap · market cap 3.57%
Second Best
Apartment 5plus
$434.3K
$380.0K – $506.7K
NOI $30,401 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$988.0K
$864.5K – $1.15M
NOI $69,157 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
433
Businesses Nearby
Explore this area
Business Placement
Demographics for 84663, UT
35,647
Population
11,025
Households
3.2
Avg Household Size
29
Median Age
39%
College-Educated
95%
High-School Grad
109.7 sq mi
ZIP Area
325
Density / Sq Mi
$88,919
Median Household Income
$39,439
Median Earnings
$1,475
Median Rent
$430,600
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 - Well-maintained quadplex centrally located in Springville, offered for sale; all information is subject to buyer verification.
Where is this quadplex located?
The property is located at 341 E 950 S Springville, UT.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Quadplex built in 1977; Well‑maintained apartments; Centrally located in Springville
