18-Unit Apartment
For Sale
$4,299,000
266 N 590 E, Vineyard, UT 84059
MultiFamily, Vineyard, UT
Property Size17,962 SF
Lot Size0.16 Acres
Price / SF$239.34
Days on Market198
Property Features for 266 N 590 E
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
PUD, Multi-Family
Bedrooms
28
Bathrooms
25
Full bathrooms
25
Rooms
Bathroom 4, Bathroom 18, Bedroom 24, Bathroom 13, Bathroom 23, Bedroom 4, Bedroom 18, Bedroom 17, Bathroom 8, Bathroom 5, Bedroom 11, Bedroom 8, Bathroom 24, Bathroom 21, Bedroom 16, Bathroom 6, Bedroom 20, Bedroom 2, Bedroom 22, Bathroom 14, Bedroom 25, Bedroom 3, Bedroom 7, Bathroom 15, Bathroom 19, Bathroom 2, Bedroom 26, Bathroom 16, Bedroom 21, Bedroom 1, Bedroom 6, Bathroom 10, Bathroom 1, Bedroom 15, Bathroom 25, Bathroom 12, Bathroom 9, Bedroom 5, Bedroom 28, Bedroom 10, Bedroom 13, Bedroom 14, Bathroom 17, Bathroom 3, Bathroom 20, Bathroom 22, Bedroom 23, Bedroom 19, Bedroom 9, Bedroom 27, Bathroom 7, Bathroom 11, Bedroom 12
Elementary school
Out of Area
Middle school
Out of Area
High school
Out of Area
Subdivision
Outside Area
Standard status
Active
APN
54:316:0006
Size
17,962 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
24647
Utilities
Heating system
Electric (Heating)
Cooling system
Central Air
Amenities
granite countertops
stainless steel appliances
in-unit laundry
walk-in closets
private patios
clubhouse
pool
hot tub
fitness center
playground
sport court
BBQ areas
pet park
EV charging
Building Details
Year built
2017
Floors in Building
3
Number of units
18
Roof type
Metal
Listing Agency:
Luxury Group
(435) 313-6657
Listed By:
CHANTAL R DREW
(435) 922-5252
Added: Feb 19
Changed: Aug 31
Last Checked: Sep 5 at 7:06PM
MLS# 26-269550
Copyright © 2026 Washington County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Completed in 2017, this 18-unit apartment building contains 17,962 square feet and offers a mix of three-, two-, and one-bedroom residences. Unit features include granite countertops, stainless steel appliances, in-unit laundry, walk-in closets, and private patios. The property is served by electric heating and central air, with a metal roof.
Resident amenities include a clubhouse, swimming pool, 18-person hot tub, fitness center, playground, sport court, BBQ areas, pet parks, and EV charging. The property is near the Vineyard FrontRunner station, I-15, Utah Valley University, Brigham Young University, shopping, and dining. Average occupancy is 94%.
Resident amenities include a clubhouse, swimming pool, 18-person hot tub, fitness center, playground, sport court, BBQ areas, pet parks, and EV charging. The property is near the Vineyard FrontRunner station, I-15, Utah Valley University, Brigham Young University, shopping, and dining. Average occupancy is 94%.
Key Highlights
- 18‑unit apartment building totaling 17,962 square feet
- Built in 2017 with a mix of 3-, 2-, and 1‑bedroom units
- Granite countertops, stainless steel appliances, in‑unit laundry, walk‑in closets, and private patios
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$152,359
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.54%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,047,180
$3.0M
Cap Rate 7%
$2,176,557
$2.2M
Cap Rate 9%
$1,692,878
$1.7M
Market Conditions
NOI Build-Up for 17,962 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$291.0K $16.20/SF
− Vacancy
−$14.0K −$0.78/SF
EGI
$277.0K $15.42/SF
− OpEx
−$124.7K −$6.94/SF
NOI
$152.4K $8.48/SF
Area
Utah County, UT
Vacancy
4.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,047,180
Cap Rate 7%
$2,176,557
Cap Rate 9%
$1,692,878
Alternative Uses
Best Use
Apartment 5plus
$2.18M
$1.90M – $2.54M
NOI $152,359 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.95M
$4.33M – $5.78M
NOI $346,595 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18
Residential units
94%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
126
Businesses Nearby
Explore this area
Business Placement
Demographics for 84059, UT
15,567
Population
5,325
Households
2.9
Avg Household Size
25
Median Age
49%
College-Educated
97%
High-School Grad
5.3 sq mi
ZIP Area
2,937
Density / Sq Mi
$101,842
Median Household Income
$41,489
Median Earnings
$1,799
Median Rent
$509,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Modern apartment community with varied floor plans, private patios, resident amenities, and convenient regional access.
Where is this apartment building located?
The property is located at 266 N 590 E Vineyard, UT.
What is the asking price?
The asking price for this property is $4,299,000.
What are key features of this property?
This property features: 18‑unit apartment building totaling 17,962 square feet; Built in 2017 with a mix of 3-, 2-, and 1‑bedroom units; Granite countertops, stainless steel appliances, in‑unit laundry, walk‑in closets, and private patios
