Four-Duplex Multifamily
For Sale
$2,299,500
457 N 900 E, Spanish Fork, UT 84660
Eight occupied residential units with covered parking and individually metered tenant utilities.
Property Size10,080 SF
Price / SF$228.13
Days on Market10
Property Features for 457 N 900 E
General Information
Standard status
Active
Size
10,080 SF
Property subtype
> 4 Units
Occupancy
100%
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
8 x 3BR/2BA
Multifamily Units
8
Amenities
covered parking
Building Details
Building Size
10,080 SF
Year Built
2003
Buildings
4
Listing Agency:
Tab Real Estate Inc.
(801) 592-1049
Listed By:
Trent Beesley
(801) 592-1049
Source:
Liftrealty
Added: Aug 12
Changed: Aug 19
Last Checked: Aug 20 at 4:31AM
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 Tab Real Estate Inc.
Investment Insights
Based on property information with market context.
This multifamily offering includes four duplex buildings with eight total units on one tax parcel. Each residence contains three bedrooms, two bathrooms, and 1,260 SF. Constructed in 2003, the property includes covered parking, additional parking areas, and shared drive access. The units are fully occupied, and the operating setup includes separate utility metering and tenant-paid trash service.
The property is located at 457 N 900 E in Spanish Fork, Utah, with access to I-15, shopping, schools, and employment centers. All four duplexes are offered together as a single portfolio, providing a consolidated ownership structure across the eight residences.
The property is located at 457 N 900 E in Spanish Fork, Utah, with access to I-15, shopping, schools, and employment centers. All four duplexes are offered together as a single portfolio, providing a consolidated ownership structure across the eight residences.
Key Highlights
- Four duplexes with 8 total units on a single tax parcel
- Eight 3‑bedroom, 2‑bath units, each measuring 1,260 SF
- 100% occupied with long‑term tenants
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
$92,991
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
4.04%
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%
$1,859,820
$1.9M
Cap Rate 7%
$1,328,443
$1.3M
Cap Rate 9%
$1,033,233
$1.0M
Market Conditions
NOI Build-Up for 10,080 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
$139.1K $13.80/SF
− Vacancy
−$6.3K −$0.62/SF
EGI
$132.8K $13.18/SF
− OpEx
−$39.9K −$3.95/SF
NOI
$93.0K $9.23/SF
Area
Utah County, UT
Vacancy
4.50%
Lease Rate
$13.80 /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%
$1,859,820
Cap Rate 7%
$1,328,443
Cap Rate 9%
$1,033,233
Alternative Uses
Best Use
Multifamily LT 5
$1.33M
$1.16M – $1.55M
NOI $92,991 @ 7.0% cap · market cap 4.04%
Second Best
Apartment 5plus
$1.22M
$1.07M – $1.43M
NOI $85,502 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$2.78M
$2.43M – $3.24M
NOI $194,504 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
559
Businesses Nearby
Explore this area
Business Placement
Demographics for 84660, UT
45,959
Population
13,162
Households
3.5
Avg Household Size
28
Median Age
38%
College-Educated
94%
High-School Grad
362.2 sq mi
ZIP Area
127
Density / Sq Mi
$98,398
Median Household Income
$40,509
Median Earnings
$1,393
Median Rent
$452,100
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 - Eight occupied residential units with covered parking and individually metered tenant utilities.
Where is this duplex located?
The property is located at 457 N 900 E Spanish Fork, UT.
What is the asking price?
The asking price for this property is $2,299,500.
What are key features of this property?
This property features: Four duplexes with 8 total units on a single tax parcel; Eight 3‑bedroom, 2‑bath units, each measuring 1,260 SF; 100% occupied with long‑term tenants
