Historic Fourplex with Updated
For Sale
$975,000
Pending
465 6TH AVE, Salt Lake City, UT 84103
Built in 1910, this fourplex features a studio, multiple one- and two-bedroom units, and updated interiors throughout.
Property Size3,475 SF
Days on Market282
Property Features for 465 6TH AVE
General Information
Standard status
Pending
Size
3,475 SF
Property subtype
Fourplex
Taxes and HOA fees
Annual Taxes
$3,442
Amenities
3
Hardwood, Tile, Linoleum
Window Blinds
Asphalt
4 Carport Spaces. 4 Parking Spaces. Covered.
Brick
Valley
0.0x0.0x0.0
Landscaped.
Building Details
Year Built
1910
Listing Agency:
(435) 649-0891
Listed By:
Christies International Real Estate Park City
(435) 649-0891
Source:
Xome
Added: Nov 3, 2025
Changed: Aug 11
Last Checked: Aug 12 at 3:24AM
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 Christies International Real Estate Park City
Investment Insights
Based on property information with market context.
465 E 6th Ave is a 3,475-square-foot fourplex built in 1910. The property consists of four units, including a bright, efficient studio; a light-filled one-bedroom, one-bath unit with original details; and two two-bedroom units, one of which includes an additional half bath. Across the building, all units have been tastefully updated to blend period character with modern comfort.
Located on the tree-lined streets of The Avenues in Salt Lake City, the property is set within one of the city’s more historic residential neighborhoods. The combination of early 20th-century architecture and thoughtful updates supports strong day-to-day livability for tenants.
From a layout standpoint, the mix of studio, one-bedroom, and two-bedroom options provides flexibility for an owner looking to maintain a varied unit mix within a single building.
Located on the tree-lined streets of The Avenues in Salt Lake City, the property is set within one of the city’s more historic residential neighborhoods. The combination of early 20th-century architecture and thoughtful updates supports strong day-to-day livability for tenants.
From a layout standpoint, the mix of studio, one-bedroom, and two-bedroom options provides flexibility for an owner looking to maintain a varied unit mix within a single building.
Key Highlights
- 3,475 sq ft fourplex built in 1910 with brick exterior in The Avenues neighborhood
- Unit mix includes a studio, a 1‑bedroom 1‑bath, and two 2‑bedroom units (one with an additional half bath)
- Hardwood, tile, and linoleum flooring, with updated interiors throughout the property
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
$46,342
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
4.75%
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%
$926,840
$926.8K
Cap Rate 7%
$662,029
$662.0K
Cap Rate 9%
$514,911
$514.9K
Market Conditions
NOI Build-Up for 3,475 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
$70.1K $20.16/SF
− Vacancy
−$3.9K −$1.11/SF
EGI
$66.2K $19.05/SF
− OpEx
−$19.9K −$5.72/SF
NOI
$46.3K $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%
$926,840
Cap Rate 7%
$662,029
Cap Rate 9%
$514,911
Alternative Uses
Best Use
Multifamily LT 5
$662.0K
$579.3K – $772.4K
NOI $46,342 @ 7.0% cap · market cap 4.75%
Second Best
Apartment 5plus
$615.0K
$538.1K – $717.5K
NOI $43,050 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$936.2K
$819.2K – $1.09M
NOI $65,535 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,638
Businesses Nearby
Explore this area
Business Placement
Demographics for 84103, UT
22,788
Population
13,528
Households
1.7
Avg Household Size
36
Median Age
66%
College-Educated
98%
High-School Grad
20.5 sq mi
ZIP Area
1,112
Density / Sq Mi
$81,386
Median Household Income
$54,787
Median Earnings
$1,374
Median Rent
$710,700
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?
Quadplex - Built in 1910, this fourplex features a studio, multiple one- and two-bedroom units, and updated interiors throughout.
Where is this quadplex located?
The property is located at 465 6TH AVE Salt Lake City, UT.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 3,475 sq ft fourplex built in 1910 with brick exterior in The Avenues neighborhood; Unit mix includes a studio, a 1‑bedroom 1‑bath, and two 2‑bedroom units (one with an additional half bath); Hardwood, tile, and linoleum flooring, with updated interiors throughout the property
