800 W HIGHWAY DR APT A11, Wellington, UT

About this property

- The Ridges is a 37-unit, 30,000 SF multifamily community just outside of Price, Utah, featuring spacious, upgraded units with private decks, a community park, and 72 parking spaces (36 covered). With virtually zero vacancy and yearly leases, the new owner has the opportunity to continue aligning rents with market levels for additional upside. - Well-positioned within Central Utah and only 1 hour to Spanish Fork, The Ridges community benefits from regional economic drivers, including the planned nuclear power facility and the Utah Inland Port, supporting strong rental demand and long-term growth. This well-maintained, income-producing community offers investors stable cash flow and significant value-add potential through rent growth or property improvements in one of Central Utah’s most promising markets. - The Ridges has experienced virtually zero vacancy under current management and offers investors a rare opportunity to acquire a 37-unit multifamily community featuring spacious, bright units with in-unit laundry, private balconies, and stunning valley views, complemented by a community park and ample covered parking in one of Central Utah’s most desirable residential locations. - Stabilized 6.27% cap rate based on below-market rents offering immediate stability and attractive upside through rent growth, operational efficiency and incremental property improvements.. - Market Outlook and Investment Implications With direct access to U.S. 6 and proximity to Price’s major employment, education, and healthcare anchors, The Ridges is positioned to capture durable renter demand. State infrastructure spending, stable employment, and a diverse economic base support long-term appreciation and reduced vacancy risk. The Ridges benefits from strong regional momentum fueled by both public and private investment. Sources: U.S. Census Bureau (2024 estimates); Utah State University Eastern; Castleview Hospital; Utah Department of Transportation; Axios Utah Trail Network Announcement.

Property highlights

Building size

30,000 SF

Lot size

3.13 acres

Year built

1980

Zoning

Residential

County

Carbon

Map position is based on listing coordinates. Confirm access, entrances, and boundaries with the listing team; the marker is not a parcel survey.