Updated Triplex With Mixed Unit
New
For Sale
$725,000
568 S 900 E, Salt Lake City, UT 84102
Three residential units include one two-bedroom and two one-bedroom apartments near major Salt Lake City destinations.
Property Size2,120 SF
Price / SF$341.98
Days on Market4
Property Features for 568 S 900 E
General Information
Standard status
Active
Size
2,120 SF
Property subtype
Triplex
Units
Unit Mix
1 x 2BR, 2 x 1BR
Multifamily Units
3
Additional Details
Gross Income
$48,000
Taxes and HOA fees
Annual Taxes
$3,558
Building Details
Building Size
2,120 SF
Year Built
1901
Listing Agency:
Vega Real Estate LLC
Listed By:
Connor Clissold
(801) 712-3057
Source:
Acresutah
Added: Aug 31
Changed: Sep 3
Last Checked: Sep 2 at 9:15PM
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 Vega Real Estate LLC
Investment Insights
Based on property information with market context.
This 2,120-square-foot triplex, constructed in 1901, contains one two-bedroom apartment and two one-bedroom apartments. The plumbing system was fully updated in 2022, providing a documented capital improvement to the property’s residential infrastructure.
The building is positioned near the University of Utah, downtown Salt Lake City, and the shops and restaurants around 9th & 9th. Its location places residents within reach of employment, education, retail, dining, and urban amenities.
The building is positioned near the University of Utah, downtown Salt Lake City, and the shops and restaurants around 9th & 9th. Its location places residents within reach of employment, education, retail, dining, and urban amenities.
Key Highlights
- 2,120 SF triplex with three residential units
- Unit mix includes one 2‑bedroom and two 1‑bedroom apartments
- Plumbing was fully updated in 2022
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
$28,272
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
3.90%
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%
$565,440
$565.4K
Cap Rate 7%
$403,886
$403.9K
Cap Rate 9%
$314,133
$314.1K
Market Conditions
NOI Build-Up for 2,120 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
$42.7K $20.16/SF
− Vacancy
−$2.4K −$1.11/SF
EGI
$40.4K $19.05/SF
− OpEx
−$12.1K −$5.72/SF
NOI
$28.3K $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%
$565,440
Cap Rate 7%
$403,886
Cap Rate 9%
$314,133
Alternative Uses
Best Use
Multifamily LT 5
$403.9K
$353.4K – $471.2K
NOI $28,272 @ 7.0% cap · market cap 3.90%
Second Best
Apartment 5plus
$375.2K
$328.3K – $437.7K
NOI $26,264 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$571.2K
$499.8K – $666.4K
NOI $39,981 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,014
Businesses Nearby
Explore this area
Business Placement
Demographics for 84102, UT
18,857
Population
11,348
Households
1.7
Avg Household Size
29
Median Age
56%
College-Educated
94%
High-School Grad
1.9 sq mi
ZIP Area
9,925
Density / Sq Mi
$50,040
Median Household Income
$32,432
Median Earnings
$1,305
Median Rent
$487,200
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?
Triplex - Three residential units include one two-bedroom and two one-bedroom apartments near major Salt Lake City destinations.
Where is this triplex located?
The property is located at 568 S 900 E Salt Lake City, UT.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 2,120 SF triplex with three residential units; Unit mix includes one 2‑bedroom and two 1‑bedroom apartments; Plumbing was fully updated in 2022
