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The Ridges 800 W Highway Dr 37 Unit Apartment Building $4,550,000 ($122,973/Unit) 6.27% Cap Rate Wellington, UT 84542
Investment Highlights
- Many units have been updated and rents are mostly below market with near zero vacancy
- Only an hour to Spanish Fork in Utah County
- Extremely convient location for tenants working in and out of Price, UT to Greenriver
Executive Summary
The Ridges presents a rare opportunity to acquire a 37-unit multifamily community in one of Central Utah’s most desirable residential locations. Located just over an hour from Spanish Fork in Utah County, the property has experienced virtually zero vacancy under current management and features spacious, bright units with in-unit laundry, private balconies, and stunning valley views, complemented by a community park and ample covered parking. Offering a stabilized 6.27% cap rate based on below-market rents. The Ridges provides immediate income stability and attractive upside potential through rent growth, operational efficiencies, and incremental property improvements. Ideally positioned along U.S. Highway 6—the primary east–west route through Carbon County—The Ridges connects Wellington and Price, the region’s commercial, educational, and healthcare hub, and serves as a key gateway to Central Utah and premier national parks including Moab and Arches.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $4,550,000 | Building Class | B |
| Price Per Unit | $122,973 | Lot Size | 3.13 AC |
| Sale Type | Investment | Building Size | 30,000 SF |
| Cap Rate | 6.27% | Average Occupancy | 100% |
| No. Units | 37 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1980/2025 |
| Property Subtype | Apartment | Parking Ratio | 2.4/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | MF - Multifamily - condos. Each unit is a condo. All of the condos and HOA and common areas are listed together. | ||
| Price | $4,550,000 |
| Price Per Unit | $122,973 |
| Sale Type | Investment |
| Cap Rate | 6.27% |
| No. Units | 37 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 3.13 AC |
| Building Size | 30,000 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1980/2025 |
| Parking Ratio | 2.4/1,000 SF |
| Zoning | MF - Multifamily - condos. Each unit is a condo. All of the condos and HOA and common areas are listed together. |
Amenities
Unit Amenities
- Dishwasher
- Storage Space
- Stainless Steel Appliances
- Deck
Site Amenities
- Playground
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 36 | $1,085 | 850 |
| 3+2 | 1 | $1,575 | - |
Not walkable
10/100
Exceptionally drivable
90/100
Not bikeable
10/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $2,323,556 | |
| Land Assessment | $0 | Total Assessment | $2,323,556 |
Property Taxes
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$2,323,556
Total Assessment
$2,323,556
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Contact the Sale Advisor
The Ridges | 800 W Highway Dr