Four-Unit Multifamily
For Sale
$925,000
732 E 1500 S, Orem, UT 84097
Residential, Orem, UT
Property Size3,444 SF
Lot Size0.30 Acres
Price / SF$268.58
Days on Market99
Property Features for 732 E 1500 S
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Multi-Family
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 4, Bedroom 5, Bedroom 3, Bedroom 6, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 7, Bedroom 8, Bedroom 2, Bedroom 1
Parking features
Covered
Elementary school
Centennial
Middle school
Lakeridge
High school
Orem
Elementary school district
Alpine
Middle school district
Alpine
High school district
Alpine
Subdivision
Pl Grove; Lindon; Orem
Standard status
Active
APN
19-020-0074
Size
3,444 SF
Lot size
0.30 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Annual Amount
3746
Utilities
Heating system
Natural Gas, Central
Amenities
washer/dryer hookups
central air conditioning
forced air heating
Building Details
Year built
1968
Floors in Building
2
Number of units
4
Flooring type
Laminate, Carpet
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 28
Changed: Oct 23
Last Checked: Nov 2 at 11:06PM
MLS# 2175563
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.
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Investment Insights
Based on property information with market context.
This 3,444-square-foot fourplex contains four residential units, each with two bedrooms, one bathroom, 861 square feet, washer and dryer hookups, central A/C, and forced-air heating. Central A/C was installed in 2023. The brick property has laminate and carpet flooring, covered parking, and an asphalt roof. A new roof, siding, fascia, and rain gutters were completed in 2013. Units 732, 734, and 736 received cabinet, sink, and dishwasher updates, with additional interior improvements in several units.
The property occupies a 0.304-acre lot at 732 E 1500 S in Orem. It is adjacent to University Place Mall and within 10 minutes of UVU, BYU, and I-15. The asset is fully leased, with tenants responsible for gas and electricity while ownership pays water, sewer, and trash.
The property occupies a 0.304-acre lot at 732 E 1500 S in Orem. It is adjacent to University Place Mall and within 10 minutes of UVU, BYU, and I-15. The asset is fully leased, with tenants responsible for gas and electricity while ownership pays water, sewer, and trash.
Key Highlights
- Four‑unit property totaling 3,444 square feet
- Each unit measures 861 square feet with 2 bedrooms and 1 bathroom
- Central A/C installed in 2023; forced‑air heating in all units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,772
Cap Rate
3.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$635,440
$635.4K
Cap Rate 7%
$453,886
$453.9K
Cap Rate 9%
$353,022
$353.0K
Market Conditions
NOI Build-Up for 3,444 SF
Gross rent
$47.5K $13.80/SF
− Vacancy
−$2.1K −$0.62/SF
EGI
$45.4K $13.18/SF
− OpEx
−$13.6K −$3.95/SF
NOI
$31.8K $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 Rate 5%
$635,440
Cap Rate 7%
$453,886
Cap Rate 9%
$353,022
Alternative Uses
Best Use
Multifamily LT 5
$453.9K
$397.2K – $529.5K
NOI $31,772 @ 7.0% cap · market cap 3.43%
Second Best
Apartment 5plus
$417.3K
$365.2K – $486.9K
NOI $29,213 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$949.4K
$830.7K – $1.11M
NOI $66,455 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,707
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
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased multifamily asset with four two-bedroom units and covered parking.
Where is this quadplex located?
The property is located at 732 E 1500 S Orem, UT.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Four‑unit property totaling 3,444 square feet; Each unit measures 861 square feet with 2 bedrooms and 1 bathroom; Central A/C installed in 2023; forced‑air heating in all units
