Ogden has more small multifamily than most Utah cities its size. Railroad-era homes were split into apartments decades ago, brick fourplexes fill blocks east of Washington Boulevard, and newer side-by-side duplexes sit in the suburbs. Each type underwrites a little differently.
In short: LendingStreet finances Ogden duplexes, triplexes and fourplexes with DSCR loans that qualify on the combined rent of all units, with no W-2s or tax returns. Loans start at $150,000, purchases go up to 80% LTV, cash-out refinances up to 75% LTV, and the standard minimum DSCR is 1.0x, with LLC borrowers allowed. The two things to check early are whether the unit count is legal under city zoning and how Weber County will tax the property.
The oldest 2-4 unit properties are in the neighborhoods between downtown and the East Bench, including the Jefferson and Eccles Avenue historic areas and East Central. Many began as large single-family homes and were divided into two or three apartments, often with separate entrances added later. Purpose-built brick fourplexes from the mid-twentieth century are common a few blocks east of Washington Boulevard and near Weber State University.
In Roy, Riverdale, South Ogden and parts of Layton, you will find side-by-side duplexes and small fourplexes built from the 1970s onward, often with garages and simpler layouts. These usually have fewer condition questions, but prices per unit can be higher.
| Type | Where it is common | What to check |
|---|---|---|
| Converted older home, 2-3 units | East Central, Jefferson area, near downtown | Legal unit count, separate utilities, egress |
| Brick fourplex | East of Washington Blvd, near Weber State | Roof, boiler or furnace age, parking |
| Side-by-side duplex | Roy, Riverdale, South Ogden, Layton | HOA or CC&R rental limits, rent level |
| Newer townhome-style triplex or fourplex | Infill lots and suburban edges | Tax bill on new value, HOA dues |
An older Ogden house with three mailboxes is not always a legal triplex. Ask Ogden City planning or the building department for the recognized number of units, and compare it with the county record. If the property has an extra unit that was never approved, the appraisal and the loan will usually be based on the legal count only.
Ogden also requires a business license for rental units. Before closing, check that the license matches the number of units you plan to rent, and ask whether the Good Landlord program fits your management plan.
This example is illustrative and not a quote. An investor buys a brick fourplex for $640,000 with each unit renting for $1,325, or $5,300 a month combined. With tenants living there as primary residences and the Utah residential exemption on file, taxes are budgeted at about $309 a month. Insurance is $210.
At 75% LTV the loan is $480,000 and estimated principal and interest is about $3,356. The total payment is about $3,876 and DSCR is about 1.37x.
A Roy side-by-side duplex bought for $395,000 with rents of $2,700 combined would, at 80% LTV, carry a payment of about $2,530 and a DSCR of about 1.07x. Smaller properties at maximum leverage are often tighter, so plan the down payment around the ratio.
| Item | East Central fourplex | Roy duplex |
|---|---|---|
| Purchase price | $640,000 | $395,000 |
| LTV | 75% | 80% |
| Loan amount | $480,000 | $316,000 |
| Estimated principal and interest | $3,356 | $2,210 |
| Taxes and insurance | $519 | $321 |
| Total monthly payment | $3,876 | $2,530 |
| Combined rent | $5,300 | $2,700 |
| DSCR | 1.37x | 1.07x |
Many converted Ogden homes still share one water and sewer meter, and some older fourplexes share a boiler. When the owner pays utilities, that cost does not enter the DSCR payment, but it does reduce your actual cash flow. Separate gas and electric meters are common on newer duplexes and make rents easier to compare.
Ask for twelve months of owner-paid utility bills and make sure the leases match who pays what.
Tenant demand for small multifamily in Ogden comes from several directions at once. Weber State University students and staff look for units near campus and along Harrison Boulevard. Civilian and military households tied to Hill Air Force Base often rent in Roy, Riverdale and Clearfield. Workers at the distribution, manufacturing and outdoor-industry employers along I-15 and in the Ogden business parks add steady demand downtown and in the older grid.
Because rents vary block by block, use leases or a market rent estimate for each unit rather than an average for the building. A two-bedroom unit with a garage in Riverdale and a one-bedroom upstairs apartment in a converted east side house can rent very differently, and the appraiser will compare each to similar units nearby.
Utah taxes primary residential property on 55% of its value, and long-term rental units occupied by tenants as primary residences can usually qualify when the owner files the required declaration. If a unit is used as a short-term rental, that unit is generally taxed at full value, which can raise the bill on a mixed-use duplex.
Utah has no state real estate transfer tax, so buying costs are mainly title, recording, lender fees and prepaid items. Confirm the current tax estimate with the Weber County Assessor and Treasurer.
Ogden winters are cold and dry, and older buildings may have aging furnaces, boilers, galvanized pipes or knob-and-tube wiring. Insurers often ask about the roof, heating and electrical, and an older brick building may need a closer look at the chimney and foundation.
If a property needs a lot of work before it can rent at market, a bridge or fix and flip loan can fund the purchase and repairs, with a DSCR refinance once the units are leased.
Investors who outgrow fourplexes in Ogden often buy small apartment buildings of 5 to 8 units, which are still residential for our programs, though maximum LTV can be lower and varies by program. Owners with five or more rentals can also look at a blanket portfolio loan that combines them under one payment.
Buildings of 9 or more units are commercial; see our multifamily loans page for those.
Send the address, price, rent roll and legal unit count with the form below, or call (877) 298-1001.
Yes. DSCR on a 2-4 unit property uses the combined rent of all units, from current leases or a market rent estimate.
The loan is usually based on the legal number of units. Rent from an unapproved unit may not be counted, so check the city's recognized unit count first.
Purchases go up to 80% LTV, so at least 20% down. Many investors put down more so the property clears 1.0x DSCR comfortably.
Ogden City requires a business license for rental dwellings and has offered reduced fees through its Good Landlord program. Suburbs have their own rules.
Long-term rental units used as tenants' primary residences can usually qualify with a declaration on file. Units used as short-term rentals generally cannot.
Yes. LLC borrowers are standard on our DSCR loans, and you sign for the loan personally where the program requires it.
No. Our investor loans are business-purpose loans on non-owner-occupied property, so every unit must be held as a rental.
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