Updated Six-Unit Apartment
For Sale
Contact for pricing
550 100 N, Provo, UT 84606
All residences are renovated, fully occupied, and overseen by professional management.
Property Size5,739 SF
Price / SF$235.23
Days on Market144
Property Features for 550 100 N
General Information
Standard status
Active
Size
5,739 SF
Property subtype
Multifamily
Occupancy
100%
Investment Type
Core+
Net Operating Income
$59,837
Financials
Asking Price
$1,350,000
Average Monthly Rent
$1,546
Units
Unit Mix
5 x 2BD/1BA, 1 x 1BD/1BA
Multifamily Units
6
Building Details
Year Built
1953
Buildings
1
Units
6
Listing Agency:
CBRE - Salt Lake City
(801) 869-8000
Listed By:
Vicente Cantua · License #11260013-SA00
Source:
Crexi
Added: Apr 10
Changed: Aug 30
Last Checked: Aug 30 at 1:47AM
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 CBRE - Salt Lake City
Investment Insights
Based on property information with market context.
This 5,739 SF apartment property contains six residences: five two-bedroom, one-bathroom units measuring approximately 998 SF each, plus one 750 SF one-bedroom, one-bathroom unit. Constructed in 1953, the building has undergone updates throughout all units and is maintained with professional management in place.
Located at 550 100 N in Provo, UT, the property is currently 100% occupied. The unit mix combines a substantial majority of two-bedroom apartments with a smaller one-bedroom residence, providing a clearly defined multifamily configuration.
Located at 550 100 N in Provo, UT, the property is currently 100% occupied. The unit mix combines a substantial majority of two-bedroom apartments with a smaller one-bedroom residence, providing a clearly defined multifamily configuration.
Key Highlights
- Six‑unit apartment property totaling 5,739 SF
- Five 2BD/1BA units at approximately 998 SF each
- One 1BD/1BA unit measuring 750 SF
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
$56,734
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
4.20%
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%
$1,134,680
$1.1M
Cap Rate 7%
$810,486
$810.5K
Cap Rate 9%
$630,378
$630.4K
Market Conditions
NOI Build-Up for 5,739 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
$108.8K $18.96/SF
− Vacancy
−$5.7K −$0.99/SF
EGI
$103.2K $17.97/SF
− OpEx
−$46.4K −$8.09/SF
NOI
$56.7K $9.89/SF
Area
Provo, UT
Vacancy
5.20%
Lease Rate
$18.96 /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%
$1,134,680
Cap Rate 7%
$810,486
Cap Rate 9%
$630,378
Alternative Uses
Best Use
Apartment 5plus
$810.5K
$709.2K – $945.6K
NOI $56,734 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.58M
$1.38M – $1.85M
NOI $110,796 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,223
Businesses Nearby
Explore this area
Business Placement
Demographics for 84606, UT
33,791
Population
11,428
Households
3
Avg Household Size
25
Median Age
45%
College-Educated
95%
High-School Grad
11.6 sq mi
ZIP Area
2,913
Density / Sq Mi
$52,110
Median Household Income
$14,955
Median Earnings
$1,149
Median Rent
$407,600
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 - All residences are renovated, fully occupied, and overseen by professional management.
Where is this apartment building located?
The property is located at 550 100 N Provo, UT.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Six‑unit apartment property totaling 5,739 SF; Five 2BD/1BA units at approximately 998 SF each; One 1BD/1BA unit measuring 750 SF
