The Vine Financials

Property and Investment

Property: The Vine Modern 18-Plex Apartment, Building 3, a Class A multifamily investment.

Location: 624 E 300 North, Vineyard, UT (Utah County).

Year Built: 2017.

Units: 18 total (3 - 3 Bed/2 Bath, 9 - 2 Bed/2 Bath, 6 - 1 Bed/1 Bath).

Total Square Footage: 17,962 SF.

Purchase Price: $5.25 million.

Average Annual NOI (4-year average): $224,154.

Current Occupancy (11/1/25): 94%.

Income Details

Gross Operating Income (100% Occ Pro-Forma) : $28,461 mo, $341,532 yr

Gross Scheduled Income(Current Occ): $26,856 mo, $322,272 yr

Occupancy Rate: 94%

Additional Fee Income: Car, Pet, Late, and Laundry fees.

Financial and Debt Information

Assumable Debt: $2.45 million assumable Fannie Mae loan at a low interest rate of 3.66%, maturing in May 2032.

Benefit of Assumable Loan: Provides a significant financial advantage compared to current market rates (around 6.75%), resulting in an estimated annual interest savings of approximately $75,000.

Amenities

Clubhouse, Pool, Hot tub, Gym, Pet parks, Basketball court, Playground, BBQs, and Charging stations. Includes Direct TV, high-speed internet, water, sewer, trash, common area cleaning, maintenance, landscaping, and snow removal.

Expenses and HOA

HOA Fee: $4,410/month. Includes: Direct TV, high-speed internet, water, sewer, trash, common area cleaning, maintenance, landscaping, and snow removal.

Property Management Fee: 8%.

Investment Advantages

Strong Growth: Located in Utah County ("Silicon Slopes") with strong growth due to population expansion, job creation (near Adobe, Microsoft, Amazon, etc.), and educational stability (near BYU & UVU).

Unique Financing: Benefit from the below-market assumable financing.

Low Risk: Sustained rent demand and low vacancy rates.

Assumable Loan Benefits

Assumable Loan: The assumable Fannie Mae loan offers a 3.66% interest rate on a $2.45 million principal, maturing in May 2032. This below-market financing allows investors to secure lower monthly payments, resulting in significant savings compared to current market rates. These advantageous loan terms create a unique investment opportunity, especially in a fluctuating market.

Current market Rates: With current financing rates hovering around 6.75%, investors face higher borrowing costs that can diminish cash flow. The difference in interest rates results in an annual interest savings of approximately $75,000 when utilizing the assumable loan. This financial disparity highlights the strategic advantage of securing lower interest financing in a competitive property market.