Six-Unit Townhome Apartment
For Sale
$1,485,000
535 W 2530 N #Units 29-34, Cedar City, UT 84720
Built in 2025, the property combines individual parcel identification with private outdoor areas and covered vehicle parking.
Property Size7,212 SF
Price / SF$205.91
Days on Market17
Property Features for 535 W 2530 N #Units 29-34
General Information
Standard status
Active
Size
7,212 SF
Property subtype
Multi-Family
Units
Multifamily Units
6
Parking per Unit
2
Additional Details
Highway Access
Yes
Amenities
enclosed backyards
Building Details
Year Built
2025
Listing Agency:
ELEMENT REAL ESTATE BROKERS LLC
(435) 200-1991
Listed By:
Nathan Shaffer · License #nathans
Source:
Utahrealestate
Added: Aug 16
Changed: Aug 28
Last Checked: Sep 1 at 3:12PM
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 ELEMENT REAL ESTATE BROKERS LLC
Investment Insights
Based on property information with market context.
This 6-unit apartment property consists of townhome-style residences totaling 7,212 square feet. Each unit is separately identified by its own Parcel # and includes two covered carport spaces, an enclosed backyard, and an open-plan interior. Residential features include a kitchen with painted or stained cabinetry, quartz countertops, a corner pantry, and a great room. A powder bathroom is located on the main level of each residence.
The property is within the Cedar Breaks community at 535 W 2530 N, Cedar City, Utah, and offers access to I-15. Constructed in 2025, the six-unit configuration combines multifamily housing with separately parcelized units.
The property is within the Cedar Breaks community at 535 W 2530 N, Cedar City, Utah, and offers access to I-15. Constructed in 2025, the six-unit configuration combines multifamily housing with separately parcelized units.
Key Highlights
- Six apartment units totaling 7,212 square feet
- Each unit has its own Parcel #
- Two covered carport spaces provided per unit
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
$59,528
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
4.01%
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%
$1,190,560
$1.2M
Cap Rate 7%
$850,400
$850.4K
Cap Rate 9%
$661,422
$661.4K
Market Conditions
NOI Build-Up for 7,212 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
$112.5K $15.60/SF
− Vacancy
−$4.3K −$0.59/SF
EGI
$108.2K $15.01/SF
− OpEx
−$48.7K −$6.75/SF
NOI
$59.5K $8.25/SF
Area
Iron County, UT
Vacancy
3.80%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
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%
$1,190,560
Cap Rate 7%
$850,400
Cap Rate 9%
$661,422
Alternative Uses
Best Use
Apartment 5plus
$850.4K
$744.1K – $992.1K
NOI $59,528 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,104 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Explore this area
Business Placement
Demographics for 84720, UT
23,607
Population
8,984
Households
2.6
Avg Household Size
28
Median Age
35%
College-Educated
95%
High-School Grad
341.5 sq mi
ZIP Area
69
Density / Sq Mi
$63,742
Median Household Income
$29,979
Median Earnings
$932
Median Rent
$357,400
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?
Apartment building - Built in 2025, the property combines individual parcel identification with private outdoor areas and covered vehicle parking.
Where is this apartment building located?
The property is located at 535 W 2530 N #Units 29-34 Cedar City, UT.
What is the asking price?
The asking price for this property is $1,485,000.
What are key features of this property?
This property features: Six apartment units totaling 7,212 square feet; Each unit has its own Parcel #; Two covered carport spaces provided per unit
