bds
|
ba
|
sqft
ac lot
|
car garage
|
|
Investment Properties for Sale in Alpine, Utah
Alpine sits at the base of Lone Peak and Box Elder Mountain at the very north end of Utah County, and it's one of the harder Utah markets to penetrate as an investor. Median sale prices regularly clear $1.5M, lots are large (half-acre to multi-acre is common), and the city has a long history of protecting its low-density, semi-rural feel through strict zoning. That combination keeps inventory tight and pushes most investment activity toward long-term executive rentals, build-to-rent custom homes, and buy-and-hold appreciation plays rather than quick flips or nightly rental cash flow.
The tenant pool here skews heavily toward Silicon Slopes professionals — engineers and executives commuting 15-20 minutes south to Lehi, Draper, and Thanksgiving Point, plus families wanting access to the American Fork School District and the trail systems above town. Alpine does not permit short-term rentals in most residential zones, so investors counting on Airbnb income should look elsewhere (Midway, Heber, or southern Utah). What Alpine offers instead is durable demand, very low vacancy on quality homes, and steady appreciation backed by limited buildable land. Newer subdivisions near Three Falls and the upper benches command the highest rents and resale values, while older homes on larger lots in the original part of town often have redevelopment or ADU potential. Browse the active listings below to see what's currently on the market and where the numbers might pencil for your strategy.
May 2026 · Alpine market
Live from the Utah MLS — what's actually happening in Alpine right now.
Median sale
$1,880,000
7 closed in May 2026
Median DOM
22 days
listing → contract
Sale-to-list
95.9%
of final list price
Unsold inventory
48
active + pending
4 matching · page 1 of 1
Active listings
Prefer the map?
See all 4 investment properties on a map
Pan around Alpine and refine by drawing your own boundary.
Common questions
About investment properties in Alpine.
Does Alpine allow short-term rentals? ▾
Alpine has restrictive rules around short-term rentals, and nightly rentals (under 30 days) are generally not permitted in most residential zones. Investors targeting Airbnb or VRBO income should look at neighboring areas like Midway or St. George instead. Long-term rentals (30+ days) are the realistic path here.
What kind of rental income can an Alpine home generate? ▾
Long-term rents on Alpine single-family homes typically run $3,500 to $6,500+ per month depending on size, finish level, and lot. Executive rentals catering to tech families relocating to Silicon Slopes (Lehi, Draper) make up a meaningful slice of the tenant pool and can push rents higher for homes with mountain views or larger acreage.
Are cap rates strong in Alpine? ▾
Honestly, no — Alpine is an appreciation play, not a cash-flow market. With median prices well above $1.5M, gross cap rates often land in the 3-4% range. Investors here are usually betting on long-term equity growth, tax advantages, and holding a hard asset in a supply-constrained foothill community.
What about building a spec home or flipping in Alpine? ▾
Spec builds still happen, particularly on remaining lots near Three Falls, Box Elder, and the upper benches. Build costs are high (custom finishes are the norm) and the review process through Alpine City can be slow, so budget extra time for plan approvals and hillside ordinances if the lot has slope.
Can I house-hack with an ADU or basement apartment? ▾
Alpine permits accessory dwelling units under Utah's statewide internal ADU law, but the city enforces owner-occupancy and parking requirements strictly. A finished walkout basement rented long-term is the most common house-hack setup, and it pairs well with the larger lots common in older sections of town.
How does Alpine compare to nearby Highland or Cedar Hills for investors? ▾
Highland and Cedar Hills usually offer better entry prices (often $300K-$600K less) and slightly stronger rent-to-price ratios. Alpine's advantage is scarcity — limited buildable land at the base of Lone Peak and proximity to top-rated American Fork schools keep demand durable even when the broader market softens.