10-Unit Apartment
For Sale
Contact for pricing
3476 Brinker Avenue, Ogden, UT 84403
Multifamily property near Weber State University and Ogden’s healthcare corridor.
Property Size8,000 SF
Price / SF$218.75
Days on Market8
Property Features for 3476 Brinker Avenue
General Information
Standard status
Active
Size
8,000 SF
Total Parking Spaces
13
Property subtype
Multifamily
Occupancy
70%
Investment Type
Value Add
Net Operating Income
$50,235
Additional Details
Multifamily Units
10
Building Details
Year Built
1966
Year Renovated
2021
Buildings
1
Stories
2
Units
10
Tenancy
Multi
Listing Agency:
MMG
Listed By:
Adam Riddle · License #CO 100024441
(303) 257-7627
Source:
Crexi
Added: Aug 27
Changed: Sep 1
Last Checked: Sep 2 at 3:55PM
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 MMG
Investment Insights
Based on property information with market context.
This 10-unit apartment property contains approximately 8,000 square feet and was built in 1966. Current ownership has completed capital improvements across the community, with occupancy prioritized over rent increases. The property is positioned for additional interior work, including potential in-unit washer-dryer and air-conditioning additions.
Located in southern Ogden, the community is minutes from Weber State University and the city’s primary healthcare corridor. The surrounding area has a strong student-renter presence, providing direct context for the property’s existing multifamily profile.
Located in southern Ogden, the community is minutes from Weber State University and the city’s primary healthcare corridor. The surrounding area has a strong student-renter presence, providing direct context for the property’s existing multifamily profile.
Key Highlights
- 10‑unit apartment community
- Approximately 8,000 square feet
- Built in 1966
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
$68,904
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
3.94%
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%
$1,378,080
$1.4M
Cap Rate 7%
$984,343
$984.3K
Cap Rate 9%
$765,600
$765.6K
Market Conditions
NOI Build-Up for 8,000 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
$139.2K $17.40/SF
− Vacancy
−$13.9K −$1.74/SF
EGI
$125.3K $15.66/SF
− OpEx
−$56.4K −$7.05/SF
NOI
$68.9K $8.61/SF
Area
Weber County, UT
Vacancy
10.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
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%
$1,378,080
Cap Rate 7%
$984,343
Cap Rate 9%
$765,600
Alternative Uses
Best Use
Apartment 5plus
$984.3K
$861.3K – $1.15M
NOI $68,904 @ 7.0% cap · market cap 3.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.85M
$1.61M – $2.15M
NOI $129,160 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
724
Businesses Nearby
Explore this area
Business Placement
Demographics for 84403, UT
37,847
Population
14,587
Households
2.6
Avg Household Size
33
Median Age
34%
College-Educated
93%
High-School Grad
34.0 sq mi
ZIP Area
1,113
Density / Sq Mi
$84,589
Median Household Income
$41,227
Median Earnings
$1,172
Median Rent
$392,700
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?
Apartment building - Multifamily property near Weber State University and Ogden’s healthcare corridor.
Where is this apartment building located?
The property is located at 3476 Brinker Avenue Ogden, UT.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 10‑unit apartment community; Approximately 8,000 square feet; Built in 1966
