Updated 4-Unit
For Sale
$940,999
563 S DENVER ST, Salt Lake City, UT 84111
Separate utility metering and a mix of occupied and vacant apartments support flexible property management.
Property Size2,422 SF
Days on Market54
Property Features for 563 S DENVER ST
General Information
Standard status
Active
Size
2,422 SF
Property subtype
Quadruplex
Taxes and HOA fees
Annual Taxes
$6,249
Building Details
Building Size
2,422 SF
Year Built
1928
Listing Agency:
Signature Group Real Estate
Listed By:
Stephanie Aragon
(801) 208-3800
Source:
Acresutah
Added: Aug 5
Changed: Sep 26
Last Checked: Sep 26 at 5:15AM
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 Signature Group Real Estate
Investment Insights
Based on property information with market context.
Built in 1928, this 2,422-square-foot quadplex underwent extensive rebuilding and remodeling in 2023, including replacement of plumbing and electrical systems throughout the units. Units 1 and 4 use mini-split heating and cooling and have no gas appliances; Units 2 and 3 have central HVAC with gas heat. Each apartment is separately metered. Units 1 and 4 are vacant, while Units 2 and 3 are occupied, with tenants anticipated to remain. The property is professionally managed.
At 563 S Denver St in Salt Lake City, the property is near downtown shopping, dining, entertainment, employment centers and major public transportation routes. Showings are available by appointment for vacant units; tenant privacy is requested.
At 563 S Denver St in Salt Lake City, the property is near downtown shopping, dining, entertainment, employment centers and major public transportation routes. Showings are available by appointment for vacant units; tenant privacy is requested.
Key Highlights
- Extensively rebuilt and remodeled in 2023, with plumbing and electrical replaced throughout the units
- 2,422 square feet; built in 1928
- Separate utility meters for all four units
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
$32,299
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
3.43%
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%
$645,980
$646.0K
Cap Rate 7%
$461,414
$461.4K
Cap Rate 9%
$358,878
$358.9K
Market Conditions
NOI Build-Up for 2,422 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
$48.8K $20.16/SF
− Vacancy
−$2.7K −$1.11/SF
EGI
$46.1K $19.05/SF
− OpEx
−$13.8K −$5.72/SF
NOI
$32.3K $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%
$645,980
Cap Rate 7%
$461,414
Cap Rate 9%
$358,878
Alternative Uses
Best Use
Multifamily LT 5
$461.4K
$403.7K – $538.3K
NOI $32,299 @ 7.0% cap · market cap 3.43%
Second Best
Apartment 5plus
$428.6K
$375.1K – $500.1K
NOI $30,005 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$652.5K
$571.0K – $761.3K
NOI $45,677 @ 7.0% cap · market cap 4.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,071
Businesses Nearby
Explore this area
Business Placement
Demographics for 84111, UT
12,162
Population
8,635
Households
1.4
Avg Household Size
34
Median Age
55%
College-Educated
95%
High-School Grad
1.4 sq mi
ZIP Area
8,687
Density / Sq Mi
$57,188
Median Household Income
$49,490
Median Earnings
$1,294
Median Rent
$423,000
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 - Separate utility metering and a mix of occupied and vacant apartments support flexible property management.
Where is this quadplex located?
The property is located at 563 S DENVER ST Salt Lake City, UT.
What is the asking price?
The asking price for this property is $940,999.
What are key features of this property?
This property features: Extensively rebuilt and remodeled in 2023, with plumbing and electrical replaced throughout the units; 2,422 square feet; built in 1928; Separate utility meters for all four units
