Building Details

Year Built 1978

Construction brick

Listing Agency: Bear Lake Realty, Inc

Listed By: Farmhouse Realty Group Show Phone

Source: Farmhouserealty

Added: Aug 30 Changed: Oct 15 Last Checked: Oct 14 at 11:18PM

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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 Bear Lake Realty, Inc

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Investment Insights

Based on property information with market context.

This four-unit residential income property contains 3,294 square feet and was built in 1978. The all-brick structure includes kitchens with pantries, washer and dryer hookups, central air in each unit, and gas fireplaces. Two sheds provide additional on-site storage, while motion-sensor lighting is installed with capacity for future security-camera additions.

Located at 685 S Stubbs Ave W in Provo, the property backs to Franklin Park and offers mountain views. Off-street parking accommodates eight vehicles. The pavement has been recently redone, and new energy-efficient windows and soffits were installed in 2026.

Key Highlights

• Four‑unit residential income property with 3,294 square feet
• All‑brick construction built in 1978
• Central air and gas fireplaces in all units

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$35,509

Cap Rate

3.90%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$710,180 $710.2K

Cap Rate 7%

$507,271 $507.3K

Cap Rate 9%

$394,544 $394.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,294 SF

Gross rent

$53.4K $16.20/SF

− Vacancy

−$2.6K −$0.80/SF

EGI

$50.7K $15.40/SF

− OpEx

−$15.2K −$4.62/SF

NOI

$35.5K $10.78/SF

Area

Provo, UT

Vacancy

4.94%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$710,180

Cap Rate 7%

$507,271

Cap Rate 9%

$394,544

Alternative Uses

Best Use

Multifamily LT 5

$507.3K

$443.9K – $591.8K (±1% cap)

NOI $35,509 @ 7.0% cap · market cap 3.90%

Second Best

Apartment 5plus

$465.2K

$407.1K – $542.7K (±1% cap)

NOI $32,564 @ 7.0% cap · market cap 3.58%

Theoretical Best

Office A

$908.5K

$794.9K – $1.06M (±1% cap)

NOI $63,593 @ 7.0% cap · market cap 6.99%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Daycare Center (Bike/Boat/Book/etc) Store Spa & Massage Center Grocery & Convenience Store Carpet & Flooring Store HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

679

Businesses Nearby

Explore this area Business Placement

Demographics for 84601, UT

33,986

Population

11,673

Households

2.9

Avg Household Size

27

Median Age

33%

College-Educated

86%

High-School Grad

13.3 sq mi

ZIP Area

2,555

Density / Sq Mi

$64,758

Median Household Income

$30,548

Median Earnings

$1,173

Median Rent

$370,300

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - Four-unit property with central air, gas fireplaces, updated windows, and off-street parking.

Where is this quadplex located?

The property is located at 685 S Stubbs Ave W Provo, UT.

What is the asking price?

The asking price for this property is $910,000.

What are key features of this property?

This property features: Four‑unit residential income property with 3,294 square feet; All‑brick construction built in 1978; Central air and gas fireplaces in all units