Victorian Duplex with Unfinished
New
For Sale
$825,000
679 5TH AVE., Salt Lake City, UT 84103
Residential, Salt Lake City, UT
Property Size2,262 SF
Lot Size0.10 Acres
Price / SF$364.72
Days on Market6
Property Features for 679 5TH AVE.
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi-Family
Zoning description
DUPLEX
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 4, Bathroom 1
Parking
5
Parking features
Covered
Patio and Porch features
Patio
Interior features
Range/Oven: Free Stdng., Dishwasher: Built-In
Exterior features
Balcony, Lighting, Patio: Covered
Subdivision
THE AVENUES
Lot features
Curb & Gutter, Sprinkler: Auto- Part, View: Mountain
Elementary school
Wasatch
Middle school
Bryant
High school
West
Elementary school district
Salt Lake
Middle school district
Salt Lake
High school district
Salt Lake
Standard status
Active
APN
09-32-307-023
Size
2,262 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
3655
Utilities
Sewer type
Public Sewer
Heating system
Central, Forced Air, Natural Gas
Building Details
Year built
1902
Number of units
2
Flooring type
Tile, Hardwood
Building materials
Brick, Frame
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Equity Real Estate (Advantage)
(801) 917-5597
Listed By:
Brian Babb
(801) 529-7600
Added: Sep 5
Changed: Sep 9
Last Checked: Sep 10 at 7:06AM
MLS# 2183605
Copyright © 2026 UtahRealEstate.com. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1902, this Victorian duplex provides 2,262 square feet across two residential levels, with a two-bedroom, one-bath layout upstairs and another on the main level. The property also includes an unfinished basement that is not included in the reported square footage. Brick and frame construction, hardwood and tile flooring, central forced-air heating, and natural gas service add to the existing configuration. Interior improvements include a freestanding range and built-in dishwasher, while exterior features include a balcony, covered patio, exterior lighting, and covered parking.
The property sits on a 0.1-acre lot at 679 5th Ave. in Salt Lake City, within the 84103 ZIP code. It carries Multi-Family zoning and is served by public sewer. An asphalt roof completes the existing improvements.
The property sits on a 0.1-acre lot at 679 5th Ave. in Salt Lake City, within the 84103 ZIP code. It carries Multi-Family zoning and is served by public sewer. An asphalt roof completes the existing improvements.
Key Highlights
- Duplex with 2,262 square feet of reported property size
- Two‑bedroom, one‑bath layout on both the upper and main levels
- Unfinished basement not included in the reported square footage
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
$30,166
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
3.66%
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%
$603,320
$603.3K
Cap Rate 7%
$430,943
$430.9K
Cap Rate 9%
$335,178
$335.2K
Market Conditions
NOI Build-Up for 2,262 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
$45.6K $20.16/SF
− Vacancy
−$2.5K −$1.11/SF
EGI
$43.1K $19.05/SF
− OpEx
−$12.9K −$5.72/SF
NOI
$30.2K $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%
$603,320
Cap Rate 7%
$430,943
Cap Rate 9%
$335,178
Alternative Uses
Best Use
Multifamily LT 5
$430.9K
$377.1K – $502.8K
NOI $30,166 @ 7.0% cap · market cap 3.66%
Second Best
Apartment 5plus
$400.3K
$350.3K – $467.1K
NOI $28,023 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$609.4K
$533.2K – $711.0K
NOI $42,659 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,741
Businesses Nearby
Explore this area
Business Placement
Demographics for 84103, UT
22,788
Population
13,528
Households
1.7
Avg Household Size
36
Median Age
66%
College-Educated
98%
High-School Grad
20.5 sq mi
ZIP Area
1,112
Density / Sq Mi
$81,386
Median Household Income
$54,787
Median Earnings
$1,374
Median Rent
$710,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Multi-family property with two-bedroom, one-bath layouts on each level and additional unfinished basement space.
Where is this duplex located?
The property is located at 679 5TH AVE. Salt Lake City, UT.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Duplex with 2,262 square feet of reported property size; Two‑bedroom, one‑bath layout on both the upper and main levels; Unfinished basement not included in the reported square footage
