Legal Triplex with Flexible Living
For Sale
$699,900
3851 S 3200 W, West Valley City, UT 84119
Well-maintained legal triplex built in 1950, offering flexibility for owner-occupancy or renting multiple units.
Property Size1,864 SF
Days on Market83
Property Features for 3851 S 3200 W
General Information
Standard status
Active
Size
1,864 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$3,730
Building Details
Building Size
1,864 SF
Year Built
1950
Tenancy
Multi
Listing Agency:
KW South Valley Keller Williams
(801) 676-5700
Listed By:
Justin Hurd
Source:
Acresutah
Added: May 21
Changed: Aug 8
Last Checked: Aug 11 at 1:03PM
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 KW South Valley Keller Williams
Investment Insights
Based on property information with market context.
This well-maintained legal triplex provides a flexible living and income setup. The configuration supports owner-occupant use of a single-family portion while generating rental income from the additional units, or leasing all units together.
The property is located in West Valley City, UT with convenient access to shopping, dining, schools, and major commuter routes. Built in 1950, it offers a straightforward multi-unit option for buyers seeking a multi-family property with an onsite living and rental arrangement.
Square footage is provided as a courtesy estimate based on owner measurements; buyers are advised to obtain an independent measurement.
The property is located in West Valley City, UT with convenient access to shopping, dining, schools, and major commuter routes. Built in 1950, it offers a straightforward multi-unit option for buyers seeking a multi-family property with an onsite living and rental arrangement.
Square footage is provided as a courtesy estimate based on owner measurements; buyers are advised to obtain an independent measurement.
Key Highlights
- Legal triplex setup with a single‑family portion plus additional rental units
- Well‑maintained property
- Built in 1950
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
$20,187
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
2.88%
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%
$403,740
$403.7K
Cap Rate 7%
$288,386
$288.4K
Cap Rate 9%
$224,300
$224.3K
Market Conditions
NOI Build-Up for 1,864 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
$30.2K $16.20/SF
− Vacancy
−$1.4K −$0.73/SF
EGI
$28.8K $15.47/SF
− OpEx
−$8.7K −$4.64/SF
NOI
$20.2K $10.83/SF
Area
West Valley City, UT
Vacancy
4.50%
Lease Rate
$16.20 /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%
$403,740
Cap Rate 7%
$288,386
Cap Rate 9%
$224,300
Alternative Uses
Best Use
Multifamily LT 5
$288.4K
$252.3K – $336.5K
NOI $20,187 @ 7.0% cap · market cap 2.88%
Second Best
Apartment 5plus
$260.3K
$227.8K – $303.7K
NOI $18,220 @ 7.0% cap · market cap 2.60%
Theoretical Best
Office A
$533.6K
$466.9K – $622.6K
NOI $37,355 @ 7.0% cap · market cap 5.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
723
Businesses Nearby
Explore this area
Business Placement
Demographics for 84119, UT
54,143
Population
16,811
Households
3.2
Avg Household Size
31
Median Age
16%
College-Educated
79%
High-School Grad
11.5 sq mi
ZIP Area
4,708
Density / Sq Mi
$66,616
Median Household Income
$35,676
Median Earnings
$1,418
Median Rent
$341,800
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?
Triplex - Well-maintained legal triplex built in 1950, offering flexibility for owner-occupancy or renting multiple units.
Where is this triplex located?
The property is located at 3851 S 3200 W West Valley City, UT.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Legal triplex setup with a single‑family portion plus additional rental units; Well‑maintained property; Built in 1950
