Four-Unit Quadplex with Private
For Sale
$1,599,000
519 E Steeplechase Rd, Washington, UT 84780
Recently built income property featuring quartz finishes, stainless steel appliances, fenced outdoor areas, and walk-in closets.
Property Size5,864 SF
Price / SF$272.68
Days on Market64
Property Features for 519 E Steeplechase Rd
General Information
Standard status
Active
Size
5,864 SF
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
4
Amenities
SS appliances
quartz countertops
private fenced yards
walk-in closets
Building Details
Year Built
2022
Tenancy
Multi
Listing Agency:
EQUITY REAL ESTATE (ST GEORGE)
Listed By:
RICHARD C POTTER
(435) 862-6381
Source:
Utahluxuryhometeam
Added: Aug 12
Changed: Oct 9
Last Checked: Oct 7 at 4:37PM
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 EQUITY REAL ESTATE (ST GEORGE)
Investment Insights
Based on property information with market context.
Built in 2022, this four-unit quadplex contains 5,864 square feet and presents a recently constructed residential income property with durable interior upgrades. Unit features include stainless steel appliances, quartz countertops, private fenced yards, and walk-in closets. Each unit has its own tax ID.
All four residences are leased under 12-month agreements, with some occupants in place for multiple years. The property is within the Crimson High school boundaries and offers a northern outlook. Its setting provides access to SR-7, the airport, and the new Wheeler Park currently being built.
All four residences are leased under 12-month agreements, with some occupants in place for multiple years. The property is within the Crimson High school boundaries and offers a northern outlook. Its setting provides access to SR-7, the airport, and the new Wheeler Park currently being built.
Key Highlights
- Four‑unit quadplex built in 2022
- 5,864 SF residential income property
- All four units leased with 12‑month leases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,562
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,411,240
$1.4M
Cap Rate 7%
$1,008,029
$1.0M
Cap Rate 9%
$784,022
$784.0K
Market Conditions
NOI Build-Up for 5,864 SF
Gross rent
$105.6K $18.00/SF
− Vacancy
−$4.7K −$0.81/SF
EGI
$100.8K $17.19/SF
− OpEx
−$30.2K −$5.16/SF
NOI
$70.6K $12.03/SF
Area
Washington County, UT
Vacancy
4.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,411,240
Cap Rate 7%
$1,008,029
Cap Rate 9%
$784,022
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$882.0K – $1.18M
NOI $70,562 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$930.8K
$814.4K – $1.09M
NOI $65,155 @ 7.0% cap · market cap 4.07%
Theoretical Best
Specialty Retail
$1.61M
$1.41M – $1.88M
NOI $113,035 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Explore this area
Business Placement
Demographics for 84780, UT
28,025
Population
12,922
Households
2.2
Avg Household Size
36
Median Age
35%
College-Educated
94%
High-School Grad
61.8 sq mi
ZIP Area
453
Density / Sq Mi
$94,103
Median Household Income
$42,098
Median Earnings
$1,581
Median Rent
$511,700
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 - Recently built income property featuring quartz finishes, stainless steel appliances, fenced outdoor areas, and walk-in closets.
Where is this quadplex located?
The property is located at 519 E Steeplechase Rd Washington, UT.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Four‑unit quadplex built in 2022; 5,864 SF residential income property; All four units leased with 12‑month leases
