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Pineridge Farms Apartments 384 W 650 N 4 Unit Apartment Building $970,000 ($242,500/Unit) 4.79% Cap Rate Payson, UT 84651
Investment Highlights
- 100% Occupancy
- Great Cap Rate
- Low Maintenance Cost
Executive Summary
Stabilized 4-Plex Investment – 384 W 650 North, Payson, Utah
This fully occupied 4-plex delivers strong income and professional management in one of Utah County’s fastest-growing rental markets. With zero vacancy and gross monthly income of $5,600, it’s a performing asset with immediate cash flow.
2025 Projected Performance
Gross Monthly Income: $5,600
Gross Annual Scheduled Income: $67,200
Expenses: $21,568
Net Operating Income (NOI): $46,466
Occupancy: 100%
Property Value: $975,000
4.77% projected for 2025
*Please note - interior and common area photos are stock photos and not actual units.
This fully occupied 4-plex delivers strong income and professional management in one of Utah County’s fastest-growing rental markets. With zero vacancy and gross monthly income of $5,600, it’s a performing asset with immediate cash flow.
2025 Projected Performance
Gross Monthly Income: $5,600
Gross Annual Scheduled Income: $67,200
Expenses: $21,568
Net Operating Income (NOI): $46,466
Occupancy: 100%
Property Value: $975,000
4.77% projected for 2025
*Please note - interior and common area photos are stock photos and not actual units.
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Miscellaneous
Financial Summary (Pro Forma - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $970,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $242,500 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.02 AC |
| Cap Rate | 4.79% | Building Size | 4,432 SF |
| Gross Rent Multiplier | 15.64 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 2021 |
| Property Subtype | Apartment | Parking Ratio | 0.45/1,000 SF |
| Zoning | S-1 - Single Family | ||
| Price | $970,000 |
| Price Per Unit | $242,500 |
| Sale Type | Investment |
| Cap Rate | 4.79% |
| Gross Rent Multiplier | 15.64 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.02 AC |
| Building Size | 4,432 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 2021 |
| Parking Ratio | 0.45/1,000 SF |
| Zoning | S-1 - Single Family |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer Hookup
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Double Pane Windows
- Family Room
- Pantry
- Patio
- Window Coverings
Site Amenities
- Clubhouse
- Picnic Area
- Playground
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 4 | $1,400 | 1,086 |
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Property Taxes
| Parcel Numbers | Total Assessment | $1,127,280 | |
| Land Assessment | $614,800 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,434,800 | Tax Year | 2025 |
Property Taxes
Parcel Numbers
Land Assessment
$614,800
Improvements Assessment
$1,434,800
Total Assessment
$1,127,280
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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Pineridge Farms Apartments | 384 W 650 N
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