Brick Quadplex with Separate
For Sale
$799,900
385 N 1200 W, Salt Lake City, UT 84116
Residential, Salt Lake City, UT
Property Size3,350 SF
Lot Size0.26 Acres
Price / SF$238.78
Days on Market192
Property Features for 385 N 1200 W
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Multi-Family
Zoning description
R17000
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 7, Bathroom 4, Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 6, Bedroom 8, Bathroom 3
Parking
4
Window features
Blinds
Patio and Porch features
Patio
Interior features
Disposal, Range/Oven: Free Stdng.
Exterior features
Double Pane Windows, Patio: Covered
Subdivision
OAKLEY SUB
Lot features
Corner Lot, Curb & Gutter, Fenced: Part, Sprinkler: Auto- Full
Elementary school
None/Other
Middle school
None/Other
High school
None/Other
Standard status
Active
APN
08-35-157-010
Size
3,350 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Annual Amount
3442
Building Details
Year built
1960
Number of units
4
Flooring type
Laminate, Carpet, Vinyl
Building materials
Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Oakwood Realty & Property Management 8 Corp
(801) 916-0771
Listed By:
Russ James
(801) 916-0771
Added: Feb 19
Changed: Aug 22
Last Checked: Aug 30 at 7:06AM
MLS# 2138206
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 3,350-square-foot quadplex contains four occupied units within an all-brick building constructed in 1960. The property includes eight bedrooms and four bathrooms, with vinyl, carpet, and laminate flooring across the units. Two residences have received full renovations featuring new flooring and paint, while double-pane windows serve the building. Covered patios and separate yards add private outdoor space, and one west-end unit has a fenced yard and dedicated off-street parking lot.
The property occupies a 0.26-acre corner lot in Salt Lake City and carries Multi-Family zoning. Existing interior features include freestanding ranges and disposals. The asphalt roof and brick construction provide established building components for a multifamily owner or operator.
The property occupies a 0.26-acre corner lot in Salt Lake City and carries Multi-Family zoning. Existing interior features include freestanding ranges and disposals. The asphalt roof and brick construction provide established building components for a multifamily owner or operator.
Key Highlights
- Four occupied units with eight bedrooms and four bathrooms
- 3,350 square feet on a 0.26‑acre corner lot
- All‑brick construction completed in 1960
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
$44,675
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
5.59%
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%
$893,500
$893.5K
Cap Rate 7%
$638,214
$638.2K
Cap Rate 9%
$496,389
$496.4K
Market Conditions
NOI Build-Up for 3,350 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
$67.5K $20.16/SF
− Vacancy
−$3.7K −$1.11/SF
EGI
$63.8K $19.05/SF
− OpEx
−$19.1K −$5.72/SF
NOI
$44.7K $13.34/SF
Area
Salt Lake City, UT
Vacancy
5.50%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
30.00%
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%
$893,500
Cap Rate 7%
$638,214
Cap Rate 9%
$496,389
Alternative Uses
Best Use
Multifamily LT 5
$638.2K
$558.4K – $744.6K
NOI $44,675 @ 7.0% cap · market cap 5.59%
Second Best
Apartment 5plus
$592.9K
$518.8K – $691.7K
NOI $41,501 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$902.5K
$789.7K – $1.05M
NOI $63,178 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
728
Businesses Nearby
Explore this area
Business Placement
Demographics for 84116, UT
35,327
Population
14,487
Households
2.4
Avg Household Size
31
Median Age
24%
College-Educated
82%
High-School Grad
50.3 sq mi
ZIP Area
702
Density / Sq Mi
$69,604
Median Household Income
$38,492
Median Earnings
$1,280
Median Rent
$334,900
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?
Quadplex - Four occupied units on a corner parcel with updated interiors, covered patios, and individual outdoor areas.
Where is this quadplex located?
The property is located at 385 N 1200 W Salt Lake City, UT.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Four occupied units with eight bedrooms and four bathrooms; 3,350 square feet on a 0.26‑acre corner lot; All‑brick construction completed in 1960
