Brick Quadplex with Covered
For Sale
$750,000
406 N CHICAGO ST, Salt Lake City, UT 84116
Four units are fully rented and each includes a washer and dryer, with additional storage and a fenced yard.
Property Size2 SF
Price / SF$277.37
Days on Market11
Property Features for 406 N CHICAGO ST
General Information
Standard status
Active
Size
2 SF
Property subtype
Quadruplex
Occupancy
100%
Additional Details
Multifamily Units
4
Amenities
covered parking
additional storage
washer/dryer in each unit
fenced yard
Building Details
Building Size
2 SF
Year Built
1962
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
The Agency Salt Lake City
(385) 999-6656
Listed By:
Carolyn Chavez
(801) 608-5282
Source:
Liftrealty
Added: Oct 5
Changed: Oct 15
Last Checked: Oct 15 at 1:55AM
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 The Agency Salt Lake City
Investment Insights
Based on property information with market context.
This 1962 brick quadplex contains 2,704 square feet and is fully rented, with several long-term tenants. Each unit has its own washer and dryer. Covered parking, additional storage, and a fenced yard are also included.
The property is in Salt Lake City near Rose Park, within a residential area described as established and consisting of single-family homes.
The property is in Salt Lake City near Rose Park, within a residential area described as established and consisting of single-family homes.
Key Highlights
- Four‑unit brick property built in 1962
- 2,704‑square‑foot building
- Fully rented with several long‑term tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,060
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$721,200
$721.2K
Cap Rate 7%
$515,143
$515.1K
Cap Rate 9%
$400,667
$400.7K
Market Conditions
NOI Build-Up for 2,704 SF
Gross rent
$54.5K $20.16/SF
− Vacancy
−$3.0K −$1.11/SF
EGI
$51.5K $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 Rate 5%
$721,200
Cap Rate 7%
$515,143
Cap Rate 9%
$400,667
Alternative Uses
Best Use
Multifamily LT 5
$515.1K
$450.8K – $601.0K
NOI $36,060 @ 7.0% cap · market cap 4.81%
Second Best
Apartment 5plus
$478.5K
$418.7K – $558.3K
NOI $33,498 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$728.5K
$637.4K – $849.9K
NOI $50,995 @ 7.0% cap · market cap 6.80%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
806
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four units are fully rented and each includes a washer and dryer, with additional storage and a fenced yard.
Where is this quadplex located?
The property is located at 406 N CHICAGO ST Salt Lake City, UT.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Four‑unit brick property built in 1962; 2,704‑square‑foot building; Fully rented with several long‑term tenants
