635 160 Vineyard, UT 84059

Property Details for 635 160

Year built

2016

Property size

6,396 SF

Property type

Residential income homes

Description

This exceptional investment opportunity presents a meticulously maintained four-unit multifamily property situated in the desirable Water's Edge master-planned community of Vineyard, Utah. Built in 2016, this single-building complex boasts a total of 6,396 square feet and offers a compelling 4.32% cap rate with a current Net Operating Income (NOI) of $62,589. The property is currently 100% occupied, generating a stable income stream. The four units are comprised of two two-story end units, each featuring two-car garages, and two three-story interior units, each with a one-car garage. All units are identical, offering three bedrooms and 2.5 bathrooms, and are upgraded with attractive features including engineered hardwood floors, black appliances, and blinds. Residents enjoy access to the community's amenities, including two parks, two clubhouses, a swimming pool, and extensive walking trails. Individual unit rents are currently $1,770, $1,865, $1,795, and $1,770 per month, respectively, reflecting strong market demand. The asking price is $1,450,000, or $362,500 per unit. All tenant-owned items are excluded from the sale. The property is professionally managed, with a 7% management fee. This turnkey investment offers a rare opportunity to acquire a high-performing, well-located multifamily asset in a thriving Utah market.

Location Insight

City

Vineyard

County

Utah

State

Utah

Longitude

-111.75034374

Latitude

40.3083886