Building Details

Year Built 2026

Stories 3

Units 16

Listing Agency: NAI Excel

Listed By: Wes Davis · License #UT 5502820-SA00 Show Phone

Source: Crexi

Added: Mar 31 Changed: Oct 13 Last Checked: Oct 23 at 7:06AM

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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 NAI Excel

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Investment Insights

Based on property information with market context.

This offering is a new construction multifamily development consisting of 8 town homes configured as 24-plexes, with plans prepared and construction activity started. The project provides for up to 16 possible rental units. Plans are in place and work is underway, and the construction is described as including a builders warranty for one year.

The information provided does not specify unit mix, finishes, or completion timing beyond noting that construction has begun. The property is located at 687 Guy Ln in Ivins, Utah.

As presented, this is a developer-led, for-sale opportunity for a rental-focused townhome multifamily project in the active construction phase, with warranty coverage during the first year following construction per the provided remarks.

Key Highlights

• New construction underway for an 8‑townhome, 16‑unit rental development
• Plans are ready and construction activity has started
• Builder’s warranty included for one year

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$226,666

Cap Rate

5.02%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,533,320 $4.5M

Cap Rate 7%

$3,238,086 $3.2M

Cap Rate 9%

$2,518,511 $2.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 20,400 SF

Gross rent

$428.4K $21.00/SF

− Vacancy

−$16.3K −$0.80/SF

EGI

$412.1K $20.20/SF

− OpEx

−$185.5K −$9.09/SF

NOI

$226.7K $11.11/SF

Area

Washington County, UT

Vacancy

3.80%

Lease Rate

$21.00 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,533,320

Cap Rate 7%

$3,238,086

Cap Rate 9%

$2,518,511

Alternative Uses

Best Use

Apartment 5plus

$3.24M

$2.83M – $3.78M (±1% cap)

NOI $226,666 @ 7.0% cap · market cap 5.02%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$5.62M

$4.92M – $6.55M (±1% cap)

NOI $393,233 @ 7.0% cap · market cap 8.71%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Lease Details

16

Residential units

Location Intelligence

Trade Area within ½ mile

53

Businesses Nearby

Explore this area Business Placement

Demographics for 84738, UT

9,064

Population

4,469

Households

2

Avg Household Size

48

Median Age

45%

College-Educated

96%

High-School Grad

47.4 sq mi

ZIP Area

191

Density / Sq Mi

$72,075

Median Household Income

$35,789

Median Earnings

$1,717

Median Rent

$540,900

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Frequently Asked Questions

What type of property is this?

Apartment building - New construction for an 8-townhome, 16-unit rental development underway with plans and builder warranty.

Where is this apartment building located?

The property is located at 687 Guy Ln Ivins, UT.

What is the asking price?

The asking price for this property is $4,517,000.

What are key features of this property?

This property features: New construction underway for an 8‑townhome, 16‑unit rental development; Plans are ready and construction activity has started; Builder’s warranty included for one year