Four-Unit Brick
For Sale
$924,000
341 E 950 S, Springville, UT 84663
Residential, Springville, UT
Property Size3,584 SF
Lot Size0.19 Acres
Price / SF$257.81
Days on Market107
Property Features for 341 E 950 S
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Multi-Family
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 2, Bedroom 3, Bedroom 5, Bathroom 1, Bathroom 4, Bedroom 6, Bedroom 8, Bedroom 1, Bedroom 7, Bedroom 4, Bathroom 3
Parking
8
Parking features
Covered
Window features
Blinds
Interior features
Range/Oven: Free Stdng.
Exterior features
Double Pane Windows, Walkout
Lot features
Curb & Gutter, Fenced: Full, Road: Paved, Sidewalks, Sprinkler: Auto- Full, View: Mountain
Elementary school
Cherry Creek
High school
Springville
Elementary school district
Nebo
Middle school district
Nebo
High school district
Nebo
Subdivision
Provo; Mamth; Springville
Standard status
Active
APN
26-032-0018
Size
3,584 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
4747
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air, Central
Building Details
Year built
1977
Number of units
4
Flooring type
Laminate, Tile, Carpet
Building materials
Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
KW WESTFIELD · Keller Williams Realty
(801) 850-5600
Listed By:
Layne Thompson
(801) 717-0906
Added: Jun 29
Changed: Oct 7
Last Checked: Oct 13 at 3:06AM
MLS# 2170300
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Investment Insights
Based on property information with market context.
This 3,584-square-foot quadplex contains four residential units and was built in 1977. The property features brick construction, covered parking, double-pane windows, walkout access, and a combination of tile, carpet, and laminate flooring. Heating is provided by central forced air using natural gas, with a freestanding range/oven in the units. Public sewer service and an asphalt roof are also in place.
The property occupies 0.19 acres at 341 E 950 S in Springville, Utah. Units 1 through 4 each have one-year agreements in place, and the reported capitalization rate is more than 6%. Multi-Family zoning supports the property's apartment configuration.
The property occupies 0.19 acres at 341 E 950 S in Springville, Utah. Units 1 through 4 each have one-year agreements in place, and the reported capitalization rate is more than 6%. Multi-Family zoning supports the property's apartment configuration.
Key Highlights
- Four‑unit multifamily property totaling 3,584 square feet
- Brick construction completed in 1977
- Units 1, 2, 3, and 4 each have one‑year agreements in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,063
Cap Rate
3.58%
Suggested Prices Based on Cap Rates
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
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 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 3.58%
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.
How Realmo checks its estimates
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Current Use
Lease Details
4
Residential units
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 - Income-producing multifamily property with four apartments, covered parking, and one-year agreements in place.
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 $924,000.
What are key features of this property?
This property features: Four‑unit multifamily property totaling 3,584 square feet; Brick construction completed in 1977; Units 1, 2, 3, and 4 each have one‑year agreements in place
