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$ 4,550,000
Est. payment /mo
New
1126 W 250 S American Fork, UT 84003
33 Beds
30 Baths
18,759 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type > 4 Units
Listing Status Active
Purchase Type For Sale
Square Footage 18,759 sqft
Price per Sqft $242
MLS Listing ID 2188560
Style Stories: 3
Bedrooms 33
Construction Status Blt./Standing
HOA Y/N No
Year Built 2024
Annual Tax Amount $20,779
Lot Size 0.590 Acres
Acres 0.59
Lot Dimensions 0.0x0.0x0.0
Property Sub-Type > 4 Units
Property Description
Marcus & Millichap is pleased to present The Yard Building 9, an 18-unit, newer-vintage multifamily community located in American Fork, Utah, in the heart of the rapidly expanding Silicon Slopes technology hub. Built in 2024, the property features an attractive mix of six one-bedroom, nine two-bedroom, and three three-bedroom units, with in-place rents averaging approximately $1,500 per month across the unit mix. Building 9 provides investors with the opportunity to acquire a recently constructed asset with demonstrated post-lease-up rent growth and continued upside. The Yard benefits from a high-growth American Fork location with convenient access to the region's major employment centers, transportation corridors, and amenities. The community is currently 92%+ occupied, while third-party property management and HOA oversight provide a passive, low-management ownership structure. The combination of newer construction, strong market fundamentals, demonstrated rent growth, and streamlined operations positions The Yard Building 9 as an attractive investment opportunity in one of Utah's highest growth markets. Investment Highlights: Newer Vintage, Superior Product: Built in 2024 with large floorplans and a favorable unit mix (6/9/3: 1BR/2BR/3BR), commanding a competitive edge over older area supply. Proven Lease-Up Performance: The Yard is 92%+ occupied community-wide, with 2-bedroom units achieving 10%+ rent bumps following initial lease-up, clear evidence of market depth and pricing power. Embedded Rent Growth & Income Upside: Continued rent growth is expected, with additional upside from planned ancillary income streams (pet, parking, and similar fees). Passive, Low-Intensity Ownership: HOA and third-party property management handle day-to-day operations, making this an ideal fit for investors seeking a hands-off, institutional-quality hold. Tax-Advantaged Acquisition: Multifamily properties support a strong cost segregation outcome, and 100% bonus depreciation is now a permanent feature of the tax code for qualifying property, enabling significant year-one accelerated depreciation (see tax section below). High-Growth Submarket: Located in American Fork, adjacent to Lehi/Silicon Slopes, home to major tech employers including Adobe, Microsoft, and Oracle. Utah's tech sector grew employment 19% over the most recent reporting period, per the Utah Department of Workforce Services, with the Salt Lake and Provo-Orem metro areas together accounting for 85% of the state's tech jobs. Utah County is projected to double to 1.5 million residents between 2025 and 2065, driving 45% of total regional population growth and sustaining long-term multifamily demand. American Fork Growth Trajectory: American Fork's population grew 15.5% from the 2020 census (33,337) to the U.S. Census Bureau's 2023 population estimate (38,549), reflecting sustained above-average growth in Utah County and reinforcing durable rental demand.
Location
State UT
County Utah
Area Am Fork; Hlnd; Lehi; Saratog.
Interior
Fireplace No
Exterior
View Y/N No
Present Use Residential
Private Pool No
Building
Architectural Style Stories: 3
New Construction No
Construction Status Blt./Standing
Schools
Elementary Schools Greenwood
Middle Schools American Fork
High Schools American Fork
School District Alpine
Others
Senior Community No
Tax ID 56-040-0009
Listed by Marcus & Millichap Real Estate Investment Services, INC
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