Remodeled Side-by-Side
For Sale
$675,000
458 E Lambourne Ave, Salt Lake City, UT 84115
Two-unit property with separate utilities, laundry connections, garages, and fenced outdoor areas.
Property Size1,608 SF
Price / SF$419.78
Days on Market26
Property Features for 458 E Lambourne Ave
General Information
Standard status
Active
Size
1,608 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Multifamily Units
2
Parking per Unit
1
Amenities
laundry hookups
fenced yard
Building Details
Year Built
1974
Year Renovated
2022
Buildings
1
Listing Agency:
Realtypath LLC (Platinum)
(435) 849-5914
Listed By:
Mark Dunn
Source:
Liveutah
Added: Aug 8
Changed: Aug 28
Last Checked: Sep 1 at 9:27PM
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 Realtypath LLC (Platinum)
Investment Insights
Based on property information with market context.
Located at 458 E Lambourne Ave in Salt Lake City, this side-by-side duplex offers 1,608 square feet across two residential units. Built in 1974, the property received a comprehensive renovation in 2022, including new windows, roofing, siding, gutters, doors, furnaces, water heaters, flooring, lighting, kitchens, and bathrooms.
Each unit has its own gas and electrical meter, laundry hookups, and a one-car garage. Interior updates include shaker cabinetry, quartz countertops, stainless steel appliances, tile work, updated plumbing fixtures, and fresh paint. Exterior features include separately fenced yards and a rear gravel parking area.
Each unit has its own gas and electrical meter, laundry hookups, and a one-car garage. Interior updates include shaker cabinetry, quartz countertops, stainless steel appliances, tile work, updated plumbing fixtures, and fresh paint. Exterior features include separately fenced yards and a rear gravel parking area.
Key Highlights
- 2022 renovation updated both units throughout
- 1,608 SF side‑by‑side duplex built in 1974
- Each unit has its own gas meter and electrical meter
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
$21,444
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
3.18%
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%
$428,880
$428.9K
Cap Rate 7%
$306,343
$306.3K
Cap Rate 9%
$238,267
$238.3K
Market Conditions
NOI Build-Up for 1,608 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
$32.4K $20.16/SF
− Vacancy
−$1.8K −$1.11/SF
EGI
$30.6K $19.05/SF
− OpEx
−$9.2K −$5.72/SF
NOI
$21.4K $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%
$428,880
Cap Rate 7%
$306,343
Cap Rate 9%
$238,267
Alternative Uses
Best Use
Multifamily LT 5
$306.3K
$268.1K – $357.4K
NOI $21,444 @ 7.0% cap · market cap 3.18%
Second Best
Apartment 5plus
$284.6K
$249.0K – $332.0K
NOI $19,921 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$433.2K
$379.1K – $505.4K
NOI $30,325 @ 7.0% cap · market cap 4.49%
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
947
Businesses Nearby
Explore this area
Business Placement
Demographics for 84115, UT
27,588
Population
13,899
Households
2
Avg Household Size
33
Median Age
33%
College-Educated
85%
High-School Grad
6.1 sq mi
ZIP Area
4,523
Density / Sq Mi
$61,505
Median Household Income
$43,785
Median Earnings
$1,263
Median Rent
$396,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with separate utilities, laundry connections, garages, and fenced outdoor areas.
Where is this duplex located?
The property is located at 458 E Lambourne Ave Salt Lake City, UT.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 2022 renovation updated both units throughout; 1,608 SF side‑by‑side duplex built in 1974; Each unit has its own gas meter and electrical meter
