1126 West 250 South, American Fork, UT 84003 For Sale

Presenting The Yard Building 9 — a rare opportunity to acquire a brand-new, 2024-constructed 18-unit multifamily asset in the heart of American Fork, Utah. Offered at $4,750,000 ($263,889/unit), this stabilized investment delivers a verified 5.02% cap rate on $238,642 in 2025 net operating income, with meaningful value-add upside as the remaining three vacant units are leased to market.

Built in 2024, The Yard is a modern, low-maintenance 3-story building featuring a thoughtfully designed unit mix of 9 two-bedroom/2-bath, 6 one-bedroom/1-bath, and 3 three-bedroom/2-bath residences across 17,657 total square feet. Each unit showcases contemporary finishes including luxury vinyl plank flooring, granite countertops, built-in dishwashers, walk-in closets, and sliding glass doors to covered patios. The brick and stucco exterior, double-pane windows, and membrane roof ensure long-term durability with minimal capital expenditure requirements for years to come.

Residents enjoy an exceptional amenity package that includes a clubhouse, swimming pool, exercise room, on-site laundry, and ample uncovered parking — features that drive strong tenant demand and support low vacancy in the Utah County market. The property is fully accessible with ground-level and single-level living options, and separate gas meters, power meters, and water heaters per unit keep utility costs efficient with tenants paying their own utilities.

Financially, the property produced $315,001 in gross income and $238,642 in NOI during 2025, with consistent monthly performance confirmed through early 2026. Current in-place rents of $23,855/month compare favorably to a market rent ceiling of $29,315/month — representing approximately $65,460 in annual rental upside as the three vacant units are absorbed. At full occupancy and market rents, investors can project a pro forma cap rate approaching 5.8%.

Located at 1126 W 250 S in American Fork, UT 84003, The Yard benefits from exceptional access to I-15, major Utah County employment centers, national retail corridors, and top-rated schools including Trailside Elementary and Mountain View High School. The property sits within the Alpine School District and is zoned R3 Multi-Family, providing a stable, high-demand tenant base driven by proximity to major employers and the broader Utah County growth corridor.

Importantly, the property is currently in active lease-up with all 3 remaining vacant units expected to be filled by the end of May 2026 — bringing the building to 100% occupancy. At full occupancy and market rents, the property is projected to generate approximately $351,780 in gross annual income, pushing the pro forma NOI above $275,000 and the pro forma cap rate to approximately 5.8%. Buyers who close now will benefit from the immediate rent-up and step directly into a fully stabilized asset.

This is an ideal acquisition for 1031 exchange investors, private equity groups, or family offices seeking a modern, turnkey multifamily asset with predictable in-place cash flow, accelerated depreciation benefits, and long-term appreciation potential in one of the fastest-growing markets in the Mountain West. Do not miss this opportunity to own a best-in-class, newly constructed multifamily asset in Utah County.