Corner-Lot
For Sale
$575,000
Pending
385 W 700 N, Orem, UT 84057
Two-unit property with recent improvements, an occupied side, and an available unit suitable for owner occupancy.
Property Size2 SF
Days on Market56
Property Features for 385 W 700 N
General Information
Standard status
Pending
Size
2 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Building Details
Building Size
2 SF
Year Built
1973
Listing Agency:
Skyline Real Estate Group
(385) 799-1169
Listed By:
Amanda Romero
(801) 927-0559
Source:
Liftrealty
Added: Sep 3
Changed: Oct 27
Last Checked: Oct 28 at 7:02AM
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 Skyline Real Estate Group
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Investment Insights
Based on property information with market context.
Built in 1973, this duplex sits on a corner lot in Orem and includes two residential units. Recent work includes a roof replacement and upgraded power in 2026, a water heater installed in 2025, fencing added in 2024, and central air conditioning added in 2022. The property has no HOA.
Unit 385 is occupied under a lease running through June 2027. Unit 387 is vacant and available to show, allowing a new owner to consider living in one unit while leasing the other. The location provides access to State Street, shopping, schools, UVU and BYU, and commuter routes. The lot may accommodate added storage, parking, a garage, or separate yard areas, subject to verification.
Unit 385 is occupied under a lease running through June 2027. Unit 387 is vacant and available to show, allowing a new owner to consider living in one unit while leasing the other. The location provides access to State Street, shopping, schools, UVU and BYU, and commuter routes. The lot may accommodate added storage, parking, a garage, or separate yard areas, subject to verification.
Key Highlights
- Two‑unit duplex built in 1973 on a corner lot
- New roof (2026) and upgraded power (2026)
- New water heater (2025), new fence (2024), and central air conditioning (2022)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,672
Cap Rate
3.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$373,440
$373.4K
Cap Rate 7%
$266,743
$266.7K
Cap Rate 9%
$207,467
$207.5K
Market Conditions
NOI Build-Up for 2,024 SF
Gross rent
$27.9K $13.80/SF
− Vacancy
−$1.3K −$0.62/SF
EGI
$26.7K $13.18/SF
− OpEx
−$8.0K −$3.95/SF
NOI
$18.7K $9.23/SF
Area
Utah County, UT
Vacancy
4.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$373,440
Cap Rate 7%
$266,743
Cap Rate 9%
$207,467
Alternative Uses
Best Use
Multifamily LT 5
$266.7K
$233.4K – $311.2K
NOI $18,672 @ 7.0% cap · market cap 3.25%
Second Best
Apartment 5plus
$245.3K
$214.6K – $286.1K
NOI $17,168 @ 7.0% cap · market cap 2.99%
Theoretical Best
Office A
$557.9K
$488.2K – $650.9K
NOI $39,055 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,579
Businesses Nearby
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Business Placement
Demographics for 84057, UT
38,401
Population
12,246
Households
3.1
Avg Household Size
29
Median Age
39%
College-Educated
93%
High-School Grad
6.2 sq mi
ZIP Area
6,194
Density / Sq Mi
$80,184
Median Household Income
$36,429
Median Earnings
$1,408
Median Rent
$398,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with recent improvements, an occupied side, and an available unit suitable for owner occupancy.
Where is this duplex located?
The property is located at 385 W 700 N Orem, UT.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1973 on a corner lot; New roof (2026) and upgraded power (2026); New water heater (2025), new fence (2024), and central air conditioning (2022)
