Mortgage Spread at 3-Year Low

Salt Lake City Fourplex Sells for $260/unit; New Broker Commission Rules - Same Fees

Author

David Robinson
August 27, 2025

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This property has 3 units that could generate between $4,100 to $4,350. Features: 3 Bed/1 Bath on both units up and down and have separate electric and gas meters, the unit on the side is smaller and has 2 bed/1 bath with no closet.*The unit upstairs has a new range, some new light fixtures, new doors and 2 windows that are 6 months old. The basement unit has been remodeled with quartz countertops, new light fixtures, a new toilet, new laminate flooring, fresh paint, and all windows except the front 2 are about 6 months old.*Live in one unit and rent the others, this is a great income-generating investment or a space to combine business and living*

Spacious side-by-side duplex offering a prime value-add play in a strong rental market. Each unit is 3 bed/3 bath with separate gas and electric meters and central air. Currently producing $4,300/month, with room to raise rents through cosmetic upgrades. Built in 1977, this property sits on a 0.21-acre lot and offers solid construction with functional layouts. Ideal for an investor seeking a low-maintenance, cash-flowing asset with immediate upside potential.

Rare Sugarhouse Fourplex. Fourplexes of this quality and location rarely hit the open market. Meticulously maintained and significantly upgraded over the years. All units have been fully remodeled with updated kitchens, bathrooms, flooring, fixtures, electrical panels, and plumbing improvements. Exterior upgrades include new double-pane vinyl windows, motion lighting, updated walkways, and a new boiler, tankless water heater, and evaporative coolers. The detached garages have been secured, finished, and freshly painted. Located on a spacious 0.26-acre lot in one of Salt Lake City's most desirable neighborhoods, this turnkey asset offers stable cash flow, low maintenance, and strong long-term appreciation potential.

Turn-key fourplex in prime, fast growing location! Want a hands-off quality investment property with real growth potential. Conveniently located near restaurants, shopping, the Mountain View Corridor, and I-15. Photos are not of the exact unit as there are tenants in place, but finishes are similar. HOA covers the following services for this individual unit: Water; Sewer; Landscape Maintenance; Snow Removal; Garbage Service; Internet

Rare opportunity for an established 24 unit student apartment building in the middle of Cedar City! The property consists of two 12 plex apartment buildings that are each 3 stories tall, making up 96 bedrooms in total. Each apartment unit floor plan consists of 4 bed 2.5 bath with it's own kitchen, living room/dining area & laundry. Newly built in 2018, the apartment building and units are in great shape. As a student rental, the building has been receiving around $550 per month per private bedroom. The landlord is currently paying all of the utilities. Plenty of parking with 125 parking stalls. With being around 1 mile from the SUU campus, this building is ideal to be used as a student housing complex. SUU is projected to continue to grow.

Canovo Group may not be the listing brokerage for the above properties. The information provided is not guaranteed and should not be relied upon to make investment decisions. Buyers should complete their own analysis and due diligence before making any investment.

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> Headlines & Insights

Utah Headlines

Fairpark Affordable Housing Breaks Ground — Salt Lake City’s Fairpark neighborhood will soon welcome 110 new affordable apartments as part of the 9th Note development near 915 W. North Temple. Backed by federal COVID recovery funds, the project aims to ease Utah’s housing crunch by capping rents at 60% of AMI and boosting access to downtown living near TRAX.

New SLC Design Rules — Salt Lake City just tightened design review standards for developers. Key updates include: capped building facade lengths (max 250 ft, or 75% more with affordable housing incentives), stricter ground-floor activation rules, and new massing requirements for taller buildings. Projects must now include a streetscape study to show neighborhood fit. Utah developers should take note—no more using design review to bypass key zoning rules.

Utah Seniors Priced Out of Homeownership — A new analysis reveals a 35% increase in Utah seniors turning to rentals over the last decade, driven by rising property taxes, maintenance costs, and fixed incomes. Once homeowners, many seniors like Carl Bell say the system is failing them. Real estate experts urge increased development of “missing middle” housing—duplexes, triplexes, and fourplexes—as a solution for both aging Utahns and first-time buyers.

National Headlines

Mortgage Spread at 3-Year Low — The gap between mortgage rates and 10-year treasury yields has dropped to 2.26%, its lowest in over three years. For Utah buyers and refinancers, this means lower rates—regardless of Fed action—boosting purchasing power and potentially making now a smart time to lock in a deal.

CRE Bidding Back on the Rise — For the first time in 2025, JLL’s Bid Intensity Index — a real-time gauge of CRE bidding activity — improved in July, signaling renewed momentum in transaction volume. Multifamily remains the standout sector, with narrowing bid-ask spreads and increased buyer competition hinting at a slow but steady recovery, especially in markets like Utah where investor appetite remains strong.

New Commission Rules, Same Fees — One year after a major change to how real estate agents get paid, buyer agent commissions remain largely unchanged. In Utah and across the U.S., most sellers are still covering buyer agent fees — meaning the traditional 2%–3% model is still the norm despite new buyer agreements and negotiation rules.

2-4 Unit Momentum — National construction of 2–4 unit multifamily buildings (the "missing middle") saw a modest uptick in Q2 2025, with 5,000 new starts—part of a 50% year-over-year increase. Still, these units make up just 4% of total multifamily production, far below their historical average. Without zoning reform in Utah and other states, this vital housing segment will continue to lag.

Job Worries Stall Home Buyers — A third of U.S. workers, especially lower-income households and renters, are delaying or canceling big purchases like homes due to job market uncertainty. Even in Utah, this fear—fueled by AI, layoffs, and rising costs—keeps many would-be buyers sidelined. Those still in the market face less competition and stronger negotiating power.

David Robinson

Principal Broker/Owner

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