Remodeled
For Sale
$1,199,000
412 E Van Ness Pl S, Salt Lake City, UT 84111
Updated electrical and roofing improvements complement refreshed residential units near the University of Utah.
Property Size3,426 SF
Price / SF$349.97
Days on Market51
Property Features for 412 E Van Ness Pl S
General Information
Standard status
Active
Size
3,426 SF
Property subtype
Multi-Family
Additional Details
Gross Income
$81,000
Multifamily Units
4
Building Details
Year Built
1906
Year Renovated
2012
Listing Agency:
Garlington Group Real Estate
Listed By:
The Evans Team
(385) 335-0618
Source:
Evansteamutah
Added: Aug 25
Changed: Oct 13
Last Checked: Oct 12 at 8:00PM
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 Garlington Group Real Estate
Investment Insights
Based on property information with market context.
This four-unit residential property offers 3,426 square feet of living space, with all units remodeled in 2012 and refreshed again between 2022 and 2025. The improvements included electrical work and roof upgrades, while tenants are responsible for all utilities.
Built in 1906, the property is located at 412 E Van Ness Pl S in Salt Lake City’s Liberty Park area, near the University of Utah. Its four-unit configuration provides an established multifamily layout in a central Salt Lake City setting.
Built in 1906, the property is located at 412 E Van Ness Pl S in Salt Lake City’s Liberty Park area, near the University of Utah. Its four-unit configuration provides an established multifamily layout in a central Salt Lake City setting.
Key Highlights
- Four‑unit residential property with 3,426 square feet
- All four units remodeled in 2012
- Unit refreshes completed between 2022 and 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,689
Cap Rate
3.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$913,780
$913.8K
Cap Rate 7%
$652,700
$652.7K
Cap Rate 9%
$507,656
$507.7K
Market Conditions
NOI Build-Up for 3,426 SF
Gross rent
$69.1K $20.16/SF
− Vacancy
−$3.8K −$1.11/SF
EGI
$65.3K $19.05/SF
− OpEx
−$19.6K −$5.72/SF
NOI
$45.7K $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%
$913,780
Cap Rate 7%
$652,700
Cap Rate 9%
$507,656
Alternative Uses
Best Use
Multifamily LT 5
$652.7K
$571.1K – $761.5K
NOI $45,689 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$606.3K
$530.5K – $707.4K
NOI $42,443 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$923.0K
$807.6K – $1.08M
NOI $64,611 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,785
Businesses Nearby
Explore this area
Business Placement
Demographics for 84111, UT
12,162
Population
8,635
Households
1.4
Avg Household Size
34
Median Age
55%
College-Educated
95%
High-School Grad
1.4 sq mi
ZIP Area
8,687
Density / Sq Mi
$57,188
Median Household Income
$49,490
Median Earnings
$1,294
Median Rent
$423,000
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 - Updated electrical and roofing improvements complement refreshed residential units near the University of Utah.
Where is this quadplex located?
The property is located at 412 E Van Ness Pl S Salt Lake City, UT.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Four‑unit residential property with 3,426 square feet; All four units remodeled in 2012; Unit refreshes completed between 2022 and 2025
