1125 250 American Fork, UT 84003
- Apartment buildings
- 17,966 SF
- 0.59 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 1125 250
- Year built
- 2024
- Lot size
- 0.59 lot acres
- Property size
- 17,966 SF
- Property type
- Apartment buildings
Description
This exceptional 18-unit apartment building, constructed in 2024, presents a rare investment opportunity in American Fork, Utah. The Class A, three-story property boasts 17,966 square feet on a 0.59-acre lot and features a desirable unit mix: three 3-bedroom/2-bathroom units, nine 2-bedroom/2-bathroom units, and six 1-bedroom/1-bathroom units, all with patios or balconies. Currently operating at 95% occupancy, the building offers a stabilized pro-forma NOI of $261,147 and a pro-forma cap rate of 4.43%. Modern amenities include a clubhouse, pool, and hot tub, with a gym currently under construction. Units showcase open floor plans, large windows, wood-type flooring, granite countertops, upgraded white cabinets, and 9-foot ceilings. The building's prime location offers convenient access to the American Fork TRAX station and I-15, placing residents near shopping, dining, and entertainment. Current rents are below market, presenting significant potential for future rent increases. The asking price is $5,900,000, or $327,778 per unit. The property is zoned MF and has a permitted zoning designation. The seller prefers a closing after January 1, 2025, but will consider a December closing with a strong offer. All information is deemed reliable but not guaranteed; buyer is responsible for verification.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- American Fork
- County
- Utah
- State
- Utah
- Longitude
- -111.827
- Latitude
- 40.3716
