Modern Apartment
New
For Sale
$4,900,000
1125 W 250 S #3, American Fork, UT 84003
Newly constructed multifamily property with controlled access, private outdoor space, and an on-site management setup.
Property Size17,966 SF
Price / SF$272.74
Days on Market5
Property Features for 1125 W 250 S #3
General Information
Standard status
Active
Size
17,966 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
3 x 3BR/2BA, 9 x 2BR/2BA, 6 x 1BR/1BA
Multifamily Units
18
Amenities
patio or balcony
controlled access
Building Details
Year Built
2024
Buildings
1
Listing Agency:
Ameritrue Real Estate & Management Pllc
Listed By:
Midway Utah Real Estate Team
(435) 640-7231
Source:
Midwayutahrealestate
Added: Sep 9
Changed: Sep 12
Last Checked: Sep 12 at 7:25AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ameritrue Real Estate & Management Pllc
Investment Insights
Based on property information with market context.
Completed in 2024, this 17,966-square-foot apartment property contains 18 units with a varied residential mix: three three-bedroom, two-bath homes; nine two-bedroom, two-bath homes; and six one-bedroom, one-bath homes. Every unit includes either a patio or balcony. Interior features include open layouts, large windows, wood-style flooring, granite countertops, white cabinetry, upgraded hardware, and 9-foot ceilings. Controlled entry and an on-site management operation support the building’s day-to-day residential use, while a model unit is available for tours during business hours.
The property is in American Fork within walking distance of the American Fork TRAX station, with access to I-15 as well as nearby shopping, restaurants, and entertainment. It is part of The Yard, a development comprising twelve 18-plex buildings and 216 total units. Each building carries a separate tax identification and is owned by an individual entity, with an investor-oriented HOA serving the development.
The property is in American Fork within walking distance of the American Fork TRAX station, with access to I-15 as well as nearby shopping, restaurants, and entertainment. It is part of The Yard, a development comprising twelve 18-plex buildings and 216 total units. Each building carries a separate tax identification and is owned by an individual entity, with an investor-oriented HOA serving the development.
Key Highlights
- 18‑unit apartment building completed in 2024
- Unit mix includes 3 three‑bedroom, 2‑bath; 9 two‑bedroom, 2‑bath; and 6 one‑bedroom, 1‑bath units
- 17,966 square feet with a patio or balcony for every unit
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
$152,393
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
3.11%
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%
$3,047,860
$3.0M
Cap Rate 7%
$2,177,043
$2.2M
Cap Rate 9%
$1,693,256
$1.7M
Market Conditions
NOI Build-Up for 17,966 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
$277.1K $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%
$3,047,860
Cap Rate 7%
$2,177,043
Cap Rate 9%
$1,693,256
Alternative Uses
Best Use
Apartment 5plus
$2.18M
$1.90M – $2.54M
NOI $152,393 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.95M
$4.33M – $5.78M
NOI $346,672 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
18
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
162
Businesses Nearby
Explore this area
Business Placement
Demographics for 84003, UT
52,970
Population
16,441
Households
3.2
Avg Household Size
29
Median Age
50%
College-Educated
96%
High-School Grad
73.6 sq mi
ZIP Area
720
Density / Sq Mi
$120,262
Median Household Income
$41,591
Median Earnings
$1,692
Median Rent
$580,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Newly constructed multifamily property with controlled access, private outdoor space, and an on-site management setup.
Where is this apartment building located?
The property is located at 1125 W 250 S #3 American Fork, UT.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: 18‑unit apartment building completed in 2024; Unit mix includes 3 three‑bedroom, 2‑bath; 9 two‑bedroom, 2‑bath; and 6 one‑bedroom, 1‑bath units; 17,966 square feet with a patio or balcony for every unit
