Legal 5-Plex with Off-Street
For Sale
$699,000
571 E 100 N, Provo, UT 84606
Legal five-unit multifamily property offering five 1-bedroom, 1-bath units with off-street parking at the rear.
Property Size2,310 SF
Price / SF$302.60
Days on Market25
Property Features for 571 E 100 N
General Information
Standard status
Active
Size
2,310 SF
Property subtype
> 4 Units
Occupancy
100%
Additional Details
Multifamily Units
5
Building Details
Building Size
2,310 SF
Year Built
1903
Tenancy
Multi
Listing Agency:
Woodley Real Estate
(801) 839-4240
Listed By:
John Woodley
(801) 839-4240
Source:
Liftrealty
Added: Jul 16
Changed: Aug 8
Last Checked: Aug 9 at 4:40AM
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 Woodley Real Estate
Investment Insights
Based on property information with market context.
This legal 5-plex consists of five separate 1-bedroom, 1-bathroom units. The property includes off-street parking located at the rear, providing convenient space for residents.
The building is described as being in BYU’s South Campus neighborhood and positioned near shopping, dining, public transportation, and major commuter routes. The property is currently fully occupied and presented as ready for the next owner, with details subject to buyer verification.
Showings are available only subject to accepted offer. The buyer should verify all information.
The building is described as being in BYU’s South Campus neighborhood and positioned near shopping, dining, public transportation, and major commuter routes. The property is currently fully occupied and presented as ready for the next owner, with details subject to buyer verification.
Showings are available only subject to accepted offer. The buyer should verify all information.
Key Highlights
- Legal 5‑plex multifamily property (Year built 1903) with five separate 1‑bedroom, 1‑bath units
- Currently fully occupied, ready for the next owner
- Off‑street parking available at the rear of the property
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
$22,836
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
3.27%
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%
$456,720
$456.7K
Cap Rate 7%
$326,229
$326.2K
Cap Rate 9%
$253,733
$253.7K
Market Conditions
NOI Build-Up for 2,310 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
$43.8K $18.96/SF
− Vacancy
−$2.3K −$0.99/SF
EGI
$41.5K $17.97/SF
− OpEx
−$18.7K −$8.09/SF
NOI
$22.8K $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%
$456,720
Cap Rate 7%
$326,229
Cap Rate 9%
$253,733
Alternative Uses
Best Use
Apartment 5plus
$326.2K
$285.5K – $380.6K
NOI $22,836 @ 7.0% cap · market cap 3.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$637.1K
$557.5K – $743.3K
NOI $44,596 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,392
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 - Legal five-unit multifamily property offering five 1-bedroom, 1-bath units with off-street parking at the rear.
Where is this apartment building located?
The property is located at 571 E 100 N Provo, UT.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Legal 5‑plex multifamily property (Year built 1903) with five separate 1‑bedroom, 1‑bath units; Currently fully occupied, ready for the next owner; Off‑street parking available at the rear of the property
