Updated Quadplex with
New
For Sale
$825,000
4031 S 3200 W, Salt Lake City, UT 84119
Four-unit property with upgraded mechanical systems, coin-operated laundry, and separately metered gas and electric.
Property Size2,706 SF
Price / SF$304.88
Days on Market4
Property Features for 4031 S 3200 W
General Information
Standard status
Active
Size
2,706 SF
Property subtype
Quadruplex
Additional Details
Utilities to Site
Yes
Multifamily Units
4
Amenities
coin-operated laundry
high-speed internet
Building Details
Building Size
2,706 SF
Year Built
1963
Buildings
1
Listing Agency:
Equity Summit Group PC
(801) 244-6889
Listed By:
Spencer Wilson
(801) 244-6889
Source:
Liftrealty
Added: Aug 11
Changed: Aug 14
Last Checked: Aug 14 at 4:14AM
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 Equity Summit Group PC
Investment Insights
Based on property information with market context.
Built in 1963, this 2,706-square-foot quadplex contains four residential units with leases currently in place and one vacant unit. Recent improvements include updated HVAC systems and new water heaters, reducing near-term replacement needs. Coin-operated laundry facilities and landlord-provided Utopia Fiber internet provide additional on-site income and resident services.
Gas and electric utilities are separately metered, while the trailing expense ratio is under 19%. The property also benefits from a history of near-zero vacancy and long-term tenancy, supporting an operating profile centered on stable occupancy and established income. These features create a compact multifamily asset with defined utility allocation and several existing revenue components.
Gas and electric utilities are separately metered, while the trailing expense ratio is under 19%. The property also benefits from a history of near-zero vacancy and long-term tenancy, supporting an operating profile centered on stable occupancy and established income. These features create a compact multifamily asset with defined utility allocation and several existing revenue components.
Key Highlights
- Four‑unit quadplex built in 1963
- 2,706‑square‑foot property with one vacant unit
- Updated HVAC systems and new water heaters
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
$36,087
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
4.37%
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%
$721,740
$721.7K
Cap Rate 7%
$515,529
$515.5K
Cap Rate 9%
$400,967
$401.0K
Market Conditions
NOI Build-Up for 2,706 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
$54.6K $20.16/SF
− Vacancy
−$3.0K −$1.11/SF
EGI
$51.6K $19.05/SF
− OpEx
−$15.5K −$5.72/SF
NOI
$36.1K $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%
$721,740
Cap Rate 7%
$515,529
Cap Rate 9%
$400,967
Alternative Uses
Best Use
Multifamily LT 5
$515.5K
$451.1K – $601.5K
NOI $36,087 @ 7.0% cap · market cap 4.37%
Second Best
Apartment 5plus
$478.9K
$419.0K – $558.7K
NOI $33,523 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$729.0K
$637.9K – $850.5K
NOI $51,032 @ 7.0% cap · market cap 6.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
242
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property with upgraded mechanical systems, coin-operated laundry, and separately metered gas and electric.
Where is this quadplex located?
The property is located at 4031 S 3200 W Salt Lake City, UT.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Four‑unit quadplex built in 1963; 2,706‑square‑foot property with one vacant unit; Updated HVAC systems and new water heaters
