Building Details

Building Size 12,752 SF

Year Built 1983

Listing Agency: ERA Brokers Consolidated (Ogden) s***@liftrealty.com Show Phone

Listed By: Jeff Good Show Phone

Source: Liftrealty

Added: Aug 15 Changed: Aug 18 Last Checked: Aug 20 at 4:03AM

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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 ERA Brokers Consolidated (Ogden)

Investment Insights

Based on property information with market context.

This 14-unit apartment property comprises condominium residences built in 1983, with layouts ranging from one-bedroom units to two-bedroom homes with lofts. Individual sizes range from 671 to 1,292 square feet, and the combined property size is 12,752 square feet. The unit mix includes six one-bedroom residences, two two-bedroom units, and six two-bedroom units with lofts. Square footage is based on county records and should be independently verified.

Nightly rentals are permitted. The property is located at 3815 N Wolf Crk Dr in Eden, Utah, approximately 300 feet from the Wolf Creek Golf Course clubhouse. Shuttle service to Powder Mountain is available directly outside the property.

Key Highlights

• 14 condominium units with one- and two‑bedroom layouts, including loft configurations
• Nightly rentals permitted
• Unit sizes range from 671 to 1,292 SF

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

$109,833

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

3.14%

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%

$2,196,660 $2.2M

Cap Rate 7%

$1,569,043 $1.6M

Cap Rate 9%

$1,220,367 $1.2M

Market Conditions

NOI Build-Up for 12,752 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

$221.9K $17.40/SF

− Vacancy

−$22.2K −$1.74/SF

EGI

$199.7K $15.66/SF

− OpEx

−$89.9K −$7.05/SF

NOI

$109.8K $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%

$2,196,660

Cap Rate 7%

$1,569,043

Cap Rate 9%

$1,220,367

Alternative Uses

Best Use

Apartment 5plus

$1.57M

$1.37M – $1.83M (±1% cap)

NOI $109,833 @ 7.0% cap · market cap 3.14%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.94M

$2.57M – $3.43M (±1% cap)

NOI $205,881 @ 7.0% cap · market cap 5.88%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Wolf Creek Village ... Hotel & Motel Wolf Creek Village ... Hotel & Motel The club Gym & Fitness Center

Suggested Use

Top Pick Parking Lot & Garage Storage Facility Pharmacy (Bike/Boat/Book/etc) Store Catering Service Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

14

Residential units

Location Intelligence

Trade Area within ½ mile

96

Businesses Nearby

Explore this area Business Placement

Demographics for 84310, UT

4,907

Population

2,335

Households

2.1

Avg Household Size

44

Median Age

53%

College-Educated

99%

High-School Grad

105.9 sq mi

ZIP Area

46

Density / Sq Mi

$143,137

Median Household Income

$62,353

Median Earnings

$1,684

Median Rent

$738,500

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Fourteen condominium units support nightly rentals near golf and mountain shuttle service.

Where is this apartment building located?

The property is located at 3815 N WOLF CRK DR Unit ALL Eden, UT.

What is the asking price?

The asking price for this property is $3,500,000.

What are key features of this property?

This property features: 14 condominium units with one- and two‑bedroom layouts, including loft configurations; Nightly rentals permitted; Unit sizes range from 671 to 1,292 SF