800 W Highway Dr - Apartments FOR SALE


Wellington, UT 84542
$4,550,000 USD
801-898-9261
800 W Highway Dr, Wellington, UT for Sale
$4,550,000 USD
Apartments - FOR SALE
1/24
null | 5.5% Cap Rate

800 W Highway Dr
Wellington, UT 84542


HIGHLIGHTS

  • Many units have been updated and rents are mostly below market with near zero vacancy
  • Extremely convient location for tenants working in and out of Price, UT to Greenriver
  • Only an hour to Spanish Fork in Utah County

OVERVIEW

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 5.5% cap rate based on below-market rents with 6% interest rate financing assumptions, 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.

FOR SALE DETAILS

PRICE

$4,550,000 USD

PRICE/SF

$152 USD /SF

# OF UNITS

37

PRICE/UNIT

$122,973

CAP RATE

5.5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Ridges

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1980

PARKING SPACES

72

LAND DETAILS

LAND ACRES

3.13 AC

LAND SF

136,343 SF

ZONING

MF

APN/PARCEL ID

1B-0077-0017,1B-0077-0021,1B-0077-0025,1B-0077-0030,1B-0077-0038,1B-0077-0039

ASK ABOUT THIS PROPERTY

Sean SRealtyPathMore Info
801-898-9261

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Sean SRealtyPathMore Info
801-898-9261

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.