Three-Unit Triplex with Hardwood
For Sale
$449,900
734 E 23RD ST, Ogden, UT 84401
Built in 1939 with varied layouts, included appliances, and recently painted interiors.
Property Size2,071 SF
Price / SF$217.24
Days on Market14
Property Features for 734 E 23RD ST
General Information
Standard status
Active
Size
2,071 SF
Property subtype
Triplex
Amenities
hardwood floors
appliances included
Building Details
Building Size
2,071 SF
Year Built
1939
Tenancy
Multi
Listing Agency:
Homeworks Property Lab, LLC
(801) 389-6667
Listed By:
Candace M Fite
(801) 389-6667
Source:
Liftrealty
Added: Jul 29
Changed: Aug 10
Last Checked: Aug 11 at 6:37AM
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 Homeworks Property Lab, LLC
Investment Insights
Based on property information with market context.
This three-unit residential property dates to 1939 and retains original architectural details associated with its era. The 2,071-square-foot triplex offers distinct unit configurations, giving the building a varied layout across its residences. Each unit has been recently painted and includes hardwood flooring, abundant natural light, and appliances.
The property is positioned on an established, walkable street near downtown Ogden, providing proximity to the city center. There is no garage, while the three-unit configuration supports multifamily ownership or residential use across the building.
The property is positioned on an established, walkable street near downtown Ogden, providing proximity to the city center. There is no garage, while the three-unit configuration supports multifamily ownership or residential use across the building.
Key Highlights
- Three‑unit triplex with 2,071 square feet
- Built in 1939 with original architectural details
- All three units recently painted
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
$20,467
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
4.55%
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%
$409,340
$409.3K
Cap Rate 7%
$292,386
$292.4K
Cap Rate 9%
$227,411
$227.4K
Market Conditions
NOI Build-Up for 2,071 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
$32.3K $15.60/SF
− Vacancy
−$3.1K −$1.48/SF
EGI
$29.2K $14.12/SF
− OpEx
−$8.8K −$4.24/SF
NOI
$20.5K $9.88/SF
Area
Weber County, UT
Vacancy
9.50%
Lease Rate
$15.60 /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%
$409,340
Cap Rate 7%
$292,386
Cap Rate 9%
$227,411
Alternative Uses
Best Use
Multifamily LT 5
$292.4K
$255.8K – $341.1K
NOI $20,467 @ 7.0% cap · market cap 4.55%
Second Best
Apartment 5plus
$254.8K
$223.0K – $297.3K
NOI $17,838 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$477.7K
$418.0K – $557.3K
NOI $33,436 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,572
Businesses Nearby
Explore this area
Business Placement
Demographics for 84401, UT
42,968
Population
18,615
Households
2.3
Avg Household Size
32
Median Age
26%
College-Educated
90%
High-School Grad
30.7 sq mi
ZIP Area
1,400
Density / Sq Mi
$77,333
Median Household Income
$41,295
Median Earnings
$1,179
Median Rent
$410,700
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?
Triplex - Built in 1939 with varied layouts, included appliances, and recently painted interiors.
Where is this triplex located?
The property is located at 734 E 23RD ST Ogden, UT.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Three‑unit triplex with 2,071 square feet; Built in 1939 with original architectural details; All three units recently painted
