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Multi-Family Homes for Sale in Garden City, Utah
Garden City sits on the west shore of Bear Lake at about 5,900 feet, roughly two and a half hours north of Salt Lake City and a short drive from the Idaho line. The year-round population is small — under 700 residents — but summer weekends bring tens of thousands of visitors for the turquoise water, raspberry shakes, and boating, and winters draw snowmobilers heading to the Logan Canyon and Bear River Range trail systems. That demand pattern is exactly why multi-family inventory exists here at all: duplexes, triplexes, fourplexes, and small cabin-cluster developments are built primarily as income property, not as workforce housing the way they are along the Wasatch Front.
Buyers shopping multi-family in Garden City are almost always thinking about nightly-rental cash flow first and appreciation second. The city permits short-term rentals in defined zones (Commercial, Recreation Resort, and parts of the Lakeside area), and a well-located fourplex on Bear Lake Boulevard or up in Sweetwater can run a heavy summer calendar. Pricing reflects that: small duplexes start in the high $500Ks, while purpose-built STR fourplexes with lake views push past $2M. Zoning, HOA rental rules, septic capacity, and winter access vary lot by lot, so the listing detail page matters more here than in a typical Utah market. Browse the active multi-family listings below to see what's currently on the market around Bear Lake.
May 2026 · Garden City market
Live from the Utah MLS — what's actually happening in Garden City right now.
Median sale
$655,000
5 closed in May 2026
Median DOM
17 days
listing → contract
Sale-to-list
97.5%
of final list price
Unsold inventory
172
active + pending
4 matching · page 1 of 1
Active listings
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Common questions
About multi-family homes in Garden City.
What counts as multi-family in Garden City? ▾
On the local MLS, multi-family typically means duplexes, triplexes, fourplexes, and small apartment buildings on a single parcel. Condos and townhomes are usually filed under their own categories. In Garden City you'll also see listings tagged as nightly-rental cabins with multiple units, which can function as multi-family even if they're zoned commercial-recreational.
Is short-term rental income realistic here? ▾
Yes — Garden City sits on Bear Lake and is one of the few Utah municipalities that openly permits nightly rentals in designated zones. Summer (June through Labor Day) and the winter snowmobile season drive most of the gross income, with shoulder months much quieter. Verify each property's specific zoning and HOA rules before underwriting STR numbers.
How does Garden City's seasonality affect multi-family cash flow? ▾
The town's population swings from roughly 600 year-round residents to tens of thousands on a July weekend. Long-term rental demand is thin and tied to service workers, while nightly-rental demand is heavy but compressed into about 12 peak weeks. Most investors model a hybrid — long-term in winter, nightly in summer — or commit fully to STR.
What price range should I expect? ▾
Small duplexes in the Garden City and Laketown area generally trade in the high $500Ks to around $900K, while purpose-built nightly-rental fourplexes near the lake can run $1.5M to north of $3M. Lake-view or lakefront premiums are significant. Inventory is thin, so active listings turn over quickly.
What lenders finance multi-family at Bear Lake? ▾
Conventional residential financing covers 2–4 unit properties up to the standard agency limits, with higher down payments (typically 20–25%) for non-owner-occupied. Five-plus units shift to commercial loans through regional banks like Cache Valley Bank, Zions, and Bank of Utah. If the property has a heavy nightly-rental history, some lenders will use STR income with a 12-month track record.
Are there water, septic, or utility issues unique to the area? ▾
Many properties outside the central Garden City service area run on private wells and septic systems, which matters more with multiple units sharing capacity. Confirm septic sizing matches the bedroom count, and ask about culinary water shares. Winter freeze protection on vacant units is also a real operating cost up at 5,900 feet of elevation.