Updated Five-Unit Apartment
New
For Sale
$1,150,000
3508 S WASHINGTON Blvd E, Ogden, UT 84403
Residential, Ogden, UT
Property Size4,860 SF
Lot Size0.15 Acres
Price / SF$236.63
Days on Market2
Property Features for 3508 S WASHINGTON Blvd E
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
10
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 4, Bedroom 10, Bedroom 7, Bedroom 5, Basement, Bathroom 2, Bedroom 6, Bathroom 4, Bedroom 2, Bedroom 1, Bedroom 9, Bedroom 8, Bathroom 5, Bathroom 1, Bedroom 3, Bathroom 3
Parking
7
Parking features
Covered
Window features
Blinds
Interior features
Basement Apartment, Disposal, Kitchen: Updated, Range/Oven: Free Stdng.
Exterior features
Basement Entrance, Double Pane Windows, Lighting
Lot features
Curb & Gutter, Sidewalks, Sprinkler: Auto- Full, View: Mountain
Elementary school
Odyssey
Middle school
Mount Ogden
High school
Ogden
Elementary school district
Ogden
Middle school district
Ogden
High school district
Ogden
Subdivision
Ogdn; W Hvn; Ter; Rvrdl
Standard status
Active
APN
05-117-0002
Size
4,860 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
3171
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Heat Pump (Heating)
Building Details
Year built
1929
Floors in Building
2
Number of units
5
Flooring type
Carpet
Building materials
Brick
Roof type
Rubber
Architectural style
Other
Listing Agency:
Equity Real Estate (Select)
(801) 589-5800
Listed By:
Britain R Sorensen
(801) 644-2557
Added: Aug 22
Changed: Aug 23
Last Checked: Aug 23 at 8:06AM
MLS# 2180669
Copyright © 2026 UtahRealEstate.com. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,860-square-foot apartment property in Ogden contains five units, including a basement apartment. Two units are operating as nightly rentals, two additional units have been remodeled and are nearly ready for launch, and one unit is occupied month-to-month. Interior features include updated kitchens, free-standing ranges and ovens, disposals, carpet, and double-pane windows. The building also includes covered parking, a basement entrance, brick construction, and public sewer service.
Built in 1929 and substantially renovated in 2001, the property has updated electrical, plumbing, and insulation. Mechanical improvements include a Slant/Fin boiler, high-efficiency Carrier heat pumps, and an 80-gallon commercial water heater. Two heat pumps were replaced under warranty in summer 2026. The property is zoned Multi-Family and occupies approximately 0.15 acres at 3508 S WASHINGTON Blvd E in Ogden, Utah.
Built in 1929 and substantially renovated in 2001, the property has updated electrical, plumbing, and insulation. Mechanical improvements include a Slant/Fin boiler, high-efficiency Carrier heat pumps, and an 80-gallon commercial water heater. Two heat pumps were replaced under warranty in summer 2026. The property is zoned Multi-Family and occupies approximately 0.15 acres at 3508 S WASHINGTON Blvd E in Ogden, Utah.
Key Highlights
- Five‑unit apartment property totaling 4,860 square feet
- Two units operating as nightly rentals
- Two additional units remodeled and nearly ready to launch
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
$41,859
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
3.64%
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%
$837,180
$837.2K
Cap Rate 7%
$597,986
$598.0K
Cap Rate 9%
$465,100
$465.1K
Market Conditions
NOI Build-Up for 4,860 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
$84.6K $17.40/SF
− Vacancy
−$8.5K −$1.74/SF
EGI
$76.1K $15.66/SF
− OpEx
−$34.2K −$7.05/SF
NOI
$41.9K $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%
$837,180
Cap Rate 7%
$597,986
Cap Rate 9%
$465,100
Alternative Uses
Best Use
Apartment 5plus
$598.0K
$523.2K – $697.7K
NOI $41,859 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.12M
$980.8K – $1.31M
NOI $78,465 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
835
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 - Multi-family property with remodeled units, short-term rental operations, and upgraded major building systems.
Where is this apartment building located?
The property is located at 3508 S WASHINGTON Blvd E Ogden, UT.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Five‑unit apartment property totaling 4,860 square feet; Two units operating as nightly rentals; Two additional units remodeled and nearly ready to launch
