Four-Plex Near Utah
35 Hillside Avenue, Salt Lake City, UT 84103
Well-maintained four-plex with spacious units and recent upgrades.
Type:Multifamily
Property size:
6,160 SFPrice / SF:
$251/SF- Added:
- Jan 27, 2026
- Days on Market:
- 110
- Last Refresh:
- Apr 5 at 9:01 pm
Property Features for 35 Hillside Avenue
General Information
- Standard status
- Active
- Size
- 6,160 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1961
Listing agent Christian Priskos, CCIM (801) 573-8500
Listing office InterNet Properties (801) 573-8500
Listing date Jan 27, 2026
Source Iproperties
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 InterNet Properties
HighLights
- Significant rental income upside by adding a 5th unit in the basement.
- One unit upgrade resulted in a 66% rent increase, demonstrating potential for similar improvements in other units.
- Recently replaced roof, HVAC, and windows minimize near‑term maintenance costs.
- Prime location near the Utah Capitol building ensures a large pool of potential renters.
- Unusually large units with plenty of natural light, in‑unit laundry, private outdoor common area, and covered private parking/storage.
- Well‑maintained four‑plex featuring two 2B/1B units and two 1B/1B units.
Overview
The property at 35 Hillside Avenue is a four-plex containing two 2-bedroom, 1-bathroom units and two 1-bedroom, 1-bathroom units. The units are unusually large and feature natural light, private outdoor common areas, covered private parking or storage, and in-unit laundry. Located near the Utah Capitol building, the property benefits from a large number of potential renters in the area. One of the four units has been upgraded, resulting in a 66% increase in monthly rent, demonstrating the potential for significant monthly increases with similar improvements. The roof, HVAC, and windows have been recently replaced. The unfinished basement offers added rental income potential by adding a 5th unit. The property size is 6160 square feet.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$912.8K
NOI $82,149 @ 9.00% cap · cautious / downside scenario
Moderate
$1.17M
NOI $82,149 @ 7.00% cap · market / base-case scenario
Aggressive
$1.64M
NOI $82,149 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $124.2k | $20.16 |
| − Vacancy | −$6.8k | −$1.11 |
| EGI | $117.4k | $19.05 |
| − OpEx | −$35.2k | −$5.72 |
| NOI | $82.1k | $13.34 |
6,160 SF · lease $20.16/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$1.17M
$1.03M – $1.37M
NOI $82,149 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$1.09M
$953.9K – $1.27M
NOI $76,313 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$1.66M
$1.45M – $1.94M
NOI $116,171 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Salt Lake City
- County
- Salt Lake
- State
- Utah
- Longitude
- -111.89
- Latitude
- 40.7749
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Well-maintained four-plex with spacious units and recent upgrades.
Where is this quadplex located?
The property is located at 35 Hillside Avenue Salt Lake City, UT.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Significant rental income upside by adding a 5th unit in the basement.; One unit upgrade resulted in a 66% rent increase, demonstrating potential for similar improvements in other units.; Recently replaced roof, HVAC, and windows minimize near‑term maintenance costs.
