Brick Quadplex with Covered
For Sale
$799,900
4031 S 3200 W, Salt Lake City, UT 84119
Residential, Salt Lake City, UT
Property Size2,706 SF
Lot Size0.36 Acres
Price / SF$295.60
Days on Market48
Property Features for 4031 S 3200 W
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Multi-Family
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 1, Bedroom 6, Bedroom 5, Bathroom 1, Bedroom 2, Bathroom 3, Bathroom 2, Bathroom 4, Bedroom 3
Parking
4
Parking features
Covered
Interior features
Disposal, Range/Oven: Free Stdng., Granite Countertops
Lot features
Curb & Gutter, Fenced: Full
Elementary school
Rolling Meadows
Middle school
Valley
High school
Granger
Elementary school district
Granite
Middle school district
Granite
High school district
Granite
Subdivision
Magna; Taylrsvl; WVC; SLC
Standard status
Active
APN
15-33-354-004
Size
2,706 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Annual Amount
4128
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas, Central
Amenities
coin-operated laundry
Utopia Fiber internet
Building Details
Year built
1963
Number of units
4
Building materials
Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Equity Summit Group PC
(801) 367-0286
Listed By:
Spencer Wilson
(801) 244-6889
Added: Aug 11
Changed: Sep 21
Last Checked: Sep 27 at 12:06PM
MLS# 2178108
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 2,706-square-foot quadplex sits on a 0.36-acre parcel and was built in 1963. The brick building includes covered parking, central forced-air heating powered by natural gas, public sewer service, and an asphalt roof. Interior features include granite countertops, standalone range/ovens, and garbage disposals.
The property includes four units, with leases in place and one unit currently vacant. Updated HVAC systems and new water heaters address major building-system improvements. Separately metered gas and electric service supports distinct utility billing, while on-site coin-operated laundry and landlord-provided Utopia Fiber internet provide additional property amenities. The asset is zoned Multi-Family.
The property includes four units, with leases in place and one unit currently vacant. Updated HVAC systems and new water heaters address major building-system improvements. Separately metered gas and electric service supports distinct utility billing, while on-site coin-operated laundry and landlord-provided Utopia Fiber internet provide additional property amenities. The asset is zoned Multi-Family.
Key Highlights
- Four‑unit multifamily property on 0.36 acres
- 2,706 square feet; built in 1963
- Multi‑Family zoning designation
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
4.51%
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 4.51%
Second Best
Apartment 5plus
$478.9K
$419.0K – $558.7K
NOI $33,523 @ 7.0% cap · market cap 4.19%
Theoretical Best
Office A
$729.0K
$637.9K – $850.5K
NOI $51,032 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Multifamily-zoned property with separately metered gas and electric service.
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 $799,900.
What are key features of this property?
This property features: Four‑unit multifamily property on 0.36 acres; 2,706 square feet; built in 1963; Multi‑Family zoning designation
