Remodeled 4-Unit
For Sale
$1,095,000
77 N MAIN ST W, Pleasant Grove, UT 84062
Recently updated multifamily property with four residential units and modern finishes.
Property Size4,631 SF
Price / SF$236.45
Days on Market18
Property Features for 77 N MAIN ST W
General Information
Standard status
Active
Size
4,631 SF
Property subtype
Quadruplex
Additional Details
Multifamily Units
4
Building Details
Building Size
4,631 SF
Year Built
1949
Listing Agency:
REDFIN CORPORATION
(505) 231-7800
Listed By:
Daniel Lopez
(505) 231-7800
Source:
Liftrealty
Added: Aug 5
Changed: Aug 22
Last Checked: Aug 22 at 4:32AM
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 REDFIN CORPORATION
Investment Insights
Based on property information with market context.
This four-unit multifamily property contains 4,631 square feet and was built in 1949. Recent remodeling introduced modern finishes across the property, supporting a refreshed residential presentation and current rental use.
The quadplex is located at 77 N Main St W in Pleasant Grove, Utah. Its four-unit configuration provides a defined income-property format within an established residential setting.
The quadplex is located at 77 N Main St W in Pleasant Grove, Utah. Its four-unit configuration provides a defined income-property format within an established residential setting.
Key Highlights
- Four‑unit quadplex configuration
- 4,631 square feet of building area
- Recently remodeled with modern finishes
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
$42,722
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
3.90%
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%
$854,440
$854.4K
Cap Rate 7%
$610,314
$610.3K
Cap Rate 9%
$474,689
$474.7K
Market Conditions
NOI Build-Up for 4,631 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
$63.9K $13.80/SF
− Vacancy
−$2.9K −$0.62/SF
EGI
$61.0K $13.18/SF
− OpEx
−$18.3K −$3.95/SF
NOI
$42.7K $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%
$854,440
Cap Rate 7%
$610,314
Cap Rate 9%
$474,689
Alternative Uses
Best Use
Multifamily LT 5
$610.3K
$534.0K – $712.0K
NOI $42,722 @ 7.0% cap · market cap 3.90%
Second Best
Apartment 5plus
$561.2K
$491.0K – $654.7K
NOI $39,282 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,360 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
910
Businesses Nearby
Explore this area
Business Placement
Demographics for 84062, UT
47,771
Population
14,649
Households
3.3
Avg Household Size
28
Median Age
43%
College-Educated
96%
High-School Grad
50.7 sq mi
ZIP Area
942
Density / Sq Mi
$101,584
Median Household Income
$41,079
Median Earnings
$1,617
Median Rent
$479,800
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?
Quadplex - Recently updated multifamily property with four residential units and modern finishes.
Where is this quadplex located?
The property is located at 77 N MAIN ST W Pleasant Grove, UT.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Four‑unit quadplex configuration; 4,631 square feet of building area; Recently remodeled with modern finishes
