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Kris Bogert

kjbogs@gmail.com +1(949) 599-5284

$ 4,550,000

Est. payment | -/mo

33 Beds

30 Baths

18,759 SqFt

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$ 4,550,000

Est. payment | -/mo

Save

33 Beds

30 Baths

18,759 SqFt

Key Details

Property Type Multi-Family

Sub Type > 4 Units

Listing Status Active

Purchase Type For Sale

Square Footage 18,759 sqft

Price per Sqft $242

MLS Listing ID 2188560

Style Stories: 3

Bedrooms 33

Construction Status Blt./Standing

HOA Y/N No

Year Built 2024

Annual Tax Amount $20,779

Lot Size 0.590 Acres

Acres 0.59

Lot Dimensions 0.0x0.0x0.0

Property Sub-Type > 4 Units

Property Description

Marcus & Millichap is pleased to present The Yard Building 9, an 18-unit, newer-vintage multifamily community located in American Fork, Utah, in the heart of the rapidly expanding Silicon Slopes technology hub. Built in 2024, the property features an attractive mix of six one-bedroom, nine two-bedroom, and three three-bedroom units, with in-place rents averaging approximately $1,500 per month across the unit mix. Building 9 provides investors with the opportunity to acquire a recently constructed asset with demonstrated post-lease-up rent growth and continued upside. The Yard benefits from a high-growth American Fork location with convenient access to the region's major employment centers, transportation corridors, and amenities. The community is currently 92%+ occupied, while third-party property management and HOA oversight provide a passive, low-management ownership structure. The combination of newer construction, strong market fundamentals, demonstrated rent growth, and streamlined operations positions The Yard Building 9 as an attractive investment opportunity in one of Utah's highest growth markets. Investment Highlights: Newer Vintage, Superior Product: Built in 2024 with large floorplans and a favorable unit mix (6/9/3: 1BR/2BR/3BR), commanding a competitive edge over older area supply. Proven Lease-Up Performance: The Yard is 92%+ occupied community-wide, with 2-bedroom units achieving 10%+ rent bumps following initial lease-up, clear evidence of market depth and pricing power. Embedded Rent Growth & Income Upside: Continued rent growth is expected, with additional upside from planned ancillary income streams (pet, parking, and similar fees). Passive, Low-Intensity Ownership: HOA and third-party property management handle day-to-day operations, making this an ideal fit for investors seeking a hands-off, institutional-quality hold. Tax-Advantaged Acquisition: Multifamily properties support a strong cost segregation outcome, and 100% bonus depreciation is now a permanent feature of the tax code for qualifying property, enabling significant year-one accelerated depreciation (see tax section below). High-Growth Submarket: Located in American Fork, adjacent to Lehi/Silicon Slopes, home to major tech employers including Adobe, Microsoft, and Oracle. Utah's tech sector grew employment 19% over the most recent reporting period, per the Utah Department of Workforce Services, with the Salt Lake and Provo-Orem metro areas together accounting for 85% of the state's tech jobs. Utah County is projected to double to 1.5 million residents between 2025 and 2065, driving 45% of total regional population growth and sustaining long-term multifamily demand. American Fork Growth Trajectory: American Fork's population grew 15.5% from the 2020 census (33,337) to the U.S. Census Bureau's 2023 population estimate (38,549), reflecting sustained above-average growth in Utah County and reinforcing durable rental demand.

Location

State UT

County Utah

Area Am Fork; Hlnd; Lehi; Saratog.

Interior

Fireplace No

Exterior

View Y/N No

Present Use Residential

Private Pool No

Building

Architectural Style Stories: 3

New Construction No

Construction Status Blt./Standing

Schools

Elementary Schools Greenwood

Middle Schools American Fork

High Schools American Fork

School District Alpine

Others

Senior Community No

Tax ID 56-040-0009

Listed by Marcus & Millichap Real Estate Investment Services, INC

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(949) 599-5284

kjbogs@gmail.com

11240 S River Heights Dr, South Jordan, UT 84095, USA

1126 W 250 S American Fork, UT 84003

Kris Bogert

Key Details

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1126 W 250 S