Updated Fourplex with Townhouse
For Sale
$920,000
720 E 1720 S, Orem, UT 84097
Residential, Orem, UT
Property Size4,000 SF
Lot Size0.27 Acres
Price / SF$230
Days on Market49
Property Features for 720 E 1720 S
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Multi-Family
Bedrooms
8
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 3, Bedroom 7, Bedroom 4, Bedroom 2, Bathroom 3, Bedroom 6, Bedroom 5, Bathroom 1, Bathroom 6, Bedroom 1, Bathroom 4, Bathroom 2, Bedroom 8, Bathroom 5
Parking
8
Parking features
Covered
Subdivision
DREAM MEADOW
Lot features
Cul-De-Sac
Elementary school
Centennial
Middle school
Lakeridge
High school
Orem
Elementary school district
Alpine
Middle school district
Alpine
High school district
Alpine
Standard status
Active
APN
37-022-0002
Size
4,000 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Annual Amount
3906
Utilities
Heating system
Natural Gas, Central
Amenities
central A/C
central heating
washer/dryer hookups
Building Details
Year built
1967
Floors in Building
2
Number of units
4
Flooring type
Carpet, Laminate, Tile
Building materials
Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Rock Canyon Real Estate LLC
(801) 318-4483
Listed By:
Joshua Spackman · License #10763735
(385) 309-7824
Added: Jul 27
Changed: Sep 12
Last Checked: Sep 13 at 2:06AM
MLS# 2174532
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.
This 4,000-square-foot fourplex contains four townhouse-style units, each with 1,000 square feet, two bedrooms, and 1.5 bathrooms. Unit features include washer and dryer hookups, central A/C, central heating, and a mix of carpet, laminate, and tile flooring. Property improvements include a roof replacement in 2018, new driveway asphalt, updated countertops in multiple units, dishwashers in two units, new carpet in one unit, and a replacement tub and shower surround in another. The building is brick construction with covered parking and asphalt roofing.
The property is fully leased and zoned Multi-Family. Tenants pay gas and electricity, while ownership covers water, sewer, and trash. University Place Mall is nearby, and the property is within 10 minutes of UVU, BYU, and I-15.
The property is fully leased and zoned Multi-Family. Tenants pay gas and electricity, while ownership covers water, sewer, and trash. University Place Mall is nearby, and the property is within 10 minutes of UVU, BYU, and I-15.
Key Highlights
- Four townhouse‑style units, each with 1,000 square feet, two bedrooms, and 1.5 bathrooms
- 4,000‑square‑foot fourplex on a 0.27‑acre lot
- Fully leased property with Multi‑Family zoning
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
$36,901
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
4.01%
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%
$738,020
$738.0K
Cap Rate 7%
$527,157
$527.2K
Cap Rate 9%
$410,011
$410.0K
Market Conditions
NOI Build-Up for 4,000 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
$55.2K $13.80/SF
− Vacancy
−$2.5K −$0.62/SF
EGI
$52.7K $13.18/SF
− OpEx
−$15.8K −$3.95/SF
NOI
$36.9K $9.23/SF
Area
Utah County, UT
Vacancy
4.50%
Lease Rate
$13.80 /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%
$738,020
Cap Rate 7%
$527,157
Cap Rate 9%
$410,011
Alternative Uses
Best Use
Multifamily LT 5
$527.2K
$461.3K – $615.0K
NOI $36,901 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$484.7K
$424.1K – $565.5K
NOI $33,929 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$1.10M
$964.8K – $1.29M
NOI $77,184 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,309
Businesses Nearby
Explore this area
Business Placement
Demographics for 84097, UT
23,038
Population
7,237
Households
3.2
Avg Household Size
30
Median Age
50%
College-Educated
98%
High-School Grad
6.0 sq mi
ZIP Area
3,840
Density / Sq Mi
$97,034
Median Household Income
$34,536
Median Earnings
$1,414
Median Rent
$506,900
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased townhouse-style units provide central heating, central A/C, and washer/dryer hookups.
Where is this quadplex located?
The property is located at 720 E 1720 S Orem, UT.
What is the asking price?
The asking price for this property is $920,000.
What are key features of this property?
This property features: Four townhouse‑style units, each with 1,000 square feet, two bedrooms, and 1.5 bathrooms; 4,000‑square‑foot fourplex on a 0.27‑acre lot; Fully leased property with Multi‑Family zoning
