For sale MLS# 2188560 · 51 days on the market
$4,550,000
It starts with a call with an agent.
1126 W 250 S, American Fork, UT 84003
About this home
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.
Written by the listing agent.
Location
Living in American Fork
American Fork is a city in north-central Utah County at the foot of Mount Timpanogos in the Wasatch Range, 32 miles southeast of Salt Lake City. The city was settled in 1850 and has grown rapidly since the 1970s.
- 33,337 residents (2020)
- 1 rail station
- 1 named trail
- 29 named parks
Monthly payment
- Principal & interest
- $25,214
- Property tax
- $1,732
- Home insurance
- $110
10% down ($455,000), 30-year fixed at 6.25%. Tax from the MLS record; insurance is an estimate. Not a loan offer.
Details
- Style
- Stories: 3
- Lot
- 0.59 acres
- County
- Utah
Schools
Assigned schools as reported to the MLS by the listing agent. Boundaries change; confirm enrollment with the district. · Alpine
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Listing courtesy of Marcus & Millichap Real Estate Investment Services, INC / Evan Clark. Based on information from UtahRealEstate.com as of 10/1/2026 11:11 AM. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or the MLS. All information should be independently reviewed and verified for accuracy.