Updated Two-Unit
New
For Sale
$500,000
4332 S ADAMS Ave, South Ogden, UT 84403
Residential, South Ogden, UT
Property Size1,842 SF
Lot Size0.38 Acres
Price / SF$271.44
Days on Market6
Property Features for 4332 S ADAMS Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi-Family
Zoning description
R3
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 1
Parking features
Covered
Window features
Blinds
Interior features
Floor Drains, Kitchen: Updated, Range/Oven: Free Stdng.
Exterior features
Awning(s), Basement Entrance, Double Pane Windows, Lighting
Subdivision
LAKEVIEW ADDITION
Lot features
Curb & Gutter, Fenced: Part, Road: Paved, Sprinkler: Auto- Full, Terrain: Grad Slope
Elementary school
Burch Creek
Middle school
South Ogden
High school
Bonneville
Elementary school district
Weber
Middle school district
Weber
High school district
Weber
Standard status
Active
APN
06-047-0015
Size
1,842 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Annual Amount
2673
Utilities
Heating system
Forced Air, Central, Natural Gas
Amenities
central air
in-unit laundry
Building Details
Year built
1920
Number of units
2
Flooring type
Vinyl, Carpet, Linoleum
Building materials
Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
KW WESTFIELD · Keller Williams Realty
(801) 850-5600
Listed By:
Colby Kerr
(801) 350-1067
Added: Aug 16
Changed: Aug 20
Last Checked: Aug 21 at 3:06PM
MLS# 2179168
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 1,842-square-foot duplex in South Ogden contains two residential units, each configured with 2 bedrooms and 1 bathroom. Built in 1920, the property includes laminate flooring, central air, updated kitchen areas, free-standing ranges, and appliances. Both units also have in-unit laundry, while separate gas service, electrical service, and water heaters support distinct utility arrangements. The brick building has a basement entrance, double-pane windows, covered parking, and an asphalt roof.
The property occupies 0.38 acres at 4332 S Adams Ave in South Ogden, Utah. The basement unit is leased through May 31, 2027, and the upstairs unit is vacant. The landlord covers water, sewer, and trash; tenants are responsible for gas and electric. The property is identified for Multi-Family zoning, with development and zoning matters subject to independent verification with the applicable local authorities.
The property occupies 0.38 acres at 4332 S Adams Ave in South Ogden, Utah. The basement unit is leased through May 31, 2027, and the upstairs unit is vacant. The landlord covers water, sewer, and trash; tenants are responsible for gas and electric. The property is identified for Multi-Family zoning, with development and zoning matters subject to independent verification with the applicable local authorities.
Key Highlights
- Two‑unit duplex totaling 1,842 square feet
- Each unit offers 2 bedrooms and 1 bathroom
- 0.38‑acre property in South Ogden, Utah
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
$18,204
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
3.64%
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%
$364,080
$364.1K
Cap Rate 7%
$260,057
$260.1K
Cap Rate 9%
$202,267
$202.3K
Market Conditions
NOI Build-Up for 1,842 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
$28.7K $15.60/SF
− Vacancy
−$2.7K −$1.48/SF
EGI
$26.0K $14.12/SF
− OpEx
−$7.8K −$4.24/SF
NOI
$18.2K $9.88/SF
Area
Weber County, UT
Vacancy
9.50%
Lease Rate
$15.60 /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%
$364,080
Cap Rate 7%
$260,057
Cap Rate 9%
$202,267
Alternative Uses
Best Use
Multifamily LT 5
$260.1K
$227.6K – $303.4K
NOI $18,204 @ 7.0% cap · market cap 3.64%
Second Best
Apartment 5plus
$226.6K
$198.3K – $264.4K
NOI $15,865 @ 7.0% cap · market cap 3.17%
Theoretical Best
Office A
$424.8K
$371.7K – $495.7K
NOI $29,739 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
238
Businesses Nearby
Explore this area
Business Placement
Demographics for 84403, UT
37,847
Population
14,587
Households
2.6
Avg Household Size
33
Median Age
34%
College-Educated
93%
High-School Grad
34.0 sq mi
ZIP Area
1,113
Density / Sq Mi
$84,589
Median Household Income
$41,227
Median Earnings
$1,172
Median Rent
$392,700
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?
Duplex - Two-bedroom units include central air, appliances, and in-unit laundry.
Where is this duplex located?
The property is located at 4332 S ADAMS Ave South Ogden, UT.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,842 square feet; Each unit offers 2 bedrooms and 1 bathroom; 0.38‑acre property in South Ogden, Utah
