Triplex with Renovated
For Sale
$1,295,000
853 S 900 E, Salt Lake City, UT 84102
Fully occupied multifamily property with three two-bedroom units, updated bonus areas, and six off-street parking spaces.
Property Size3,219 SF
Price / SF$402.30
Days on Market48
Property Features for 853 S 900 E
General Information
Standard status
Active
Size
3,219 SF
Total Parking Spaces
6
Property subtype
Triplex
Occupancy
100%
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Building Details
Building Size
3,219 SF
Year Built
1951
Listing Agency:
Niche Homes
(801) 673-7149
Listed By:
Catherine (Mimi) Chen
(801) 888-6801
Source:
Liftrealty
Added: Jul 18
Changed: Sep 3
Last Checked: Sep 2 at 6:19PM
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 Niche Homes
Investment Insights
Based on property information with market context.
Built in 1951, this 3,219-square-foot triplex contains three two-bedroom, one-bath units. Each residence includes a renovated basement that adds flexible bonus space, and the property provides six off-street parking spaces. All three units are currently occupied and producing income. Unit 2 is being sold furnished, including its furnishings.
The property is located at 853 S 900 E in Salt Lake City, across from Smith’s Marketplace and near Coffee Garden, Pago, Pizza Nono, and Liberty Park. Transit options include the 900 East bus line and TRAX Red Line, with connections to the University of Utah, downtown, and the airport. The property is approximately 30 minutes from skiing.
The property is located at 853 S 900 E in Salt Lake City, across from Smith’s Marketplace and near Coffee Garden, Pago, Pizza Nono, and Liberty Park. Transit options include the 900 East bus line and TRAX Red Line, with connections to the University of Utah, downtown, and the airport. The property is approximately 30 minutes from skiing.
Key Highlights
- Three two‑bedroom, one‑bath units in a 3,219 SF triplex
- Each unit includes a renovated basement with flexible bonus space
- Six off‑street parking spaces
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
$42,928
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
3.31%
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%
$858,560
$858.6K
Cap Rate 7%
$613,257
$613.3K
Cap Rate 9%
$476,978
$477.0K
Market Conditions
NOI Build-Up for 3,219 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
$64.9K $20.16/SF
− Vacancy
−$3.6K −$1.11/SF
EGI
$61.3K $19.05/SF
− OpEx
−$18.4K −$5.72/SF
NOI
$42.9K $13.34/SF
Area
Salt Lake City, UT
Vacancy
5.50%
Lease Rate
$20.16 /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%
$858,560
Cap Rate 7%
$613,257
Cap Rate 9%
$476,978
Alternative Uses
Best Use
Multifamily LT 5
$613.3K
$536.6K – $715.5K
NOI $42,928 @ 7.0% cap · market cap 3.31%
Second Best
Apartment 5plus
$569.7K
$498.5K – $664.6K
NOI $39,878 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$867.2K
$758.8K – $1.01M
NOI $60,707 @ 7.0% cap · market cap 4.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,011
Businesses Nearby
Explore this area
Business Placement
Demographics for 84102, UT
18,857
Population
11,348
Households
1.7
Avg Household Size
29
Median Age
56%
College-Educated
94%
High-School Grad
1.9 sq mi
ZIP Area
9,925
Density / Sq Mi
$50,040
Median Household Income
$32,432
Median Earnings
$1,305
Median Rent
$487,200
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 - Fully occupied multifamily property with three two-bedroom units, updated bonus areas, and six off-street parking spaces.
Where is this triplex located?
The property is located at 853 S 900 E Salt Lake City, UT.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Three two‑bedroom, one‑bath units in a 3,219 SF triplex; Each unit includes a renovated basement with flexible bonus space; Six off‑street parking spaces
