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Property
Beds
75
Full Baths
None
1/2 Baths
None
Year Built
1980
Sq.Footage
30,000
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 eastwest 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.
Features & Amenities
Interior
-
Total Bedrooms
75
-
Bathrooms
N/A
-
Cooling YN
NO
-
Cooling
None
-
Fireplace YN
NO
-
Heating YN
YES
-
Heating
Central, Natural Gas, Forced Air
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Clapboard
-
Other Exterior Features
Balcony
-
Parking
Covered
-
Patio and Porch Features
Deck, Covered
-
Pool
No
-
View
Mountain(s), Valley
Area & Lot
-
Lot Features
Cul-De-Sac
-
Lot Size(acres)
3.13
-
Property Type
Residential Income
-
Property Sub Type
Multi Family
-
Architectural Style
Stories: 3
Price
-
Sales Price
$4,550,000
-
Tax Amount
24904.0
-
Sq. Footage
30, 000
-
Price/SqFt
$151
HOA
-
Association
NO
School District
-
Elementary School
Carbon
-
Middle School
Mont Harmon
-
High School
Carbon
Property Features
-
Accessibility Features
Accessible Hallway(s), Grip-Accessible Features
-
Senior Community YN
NO
-
Sewer
Public Sewer
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Location
County
Carbon
Elementary School
Carbon
Middle School
Mont Harmon
High School
Carbon
Listing Courtesy of Sean Shoemaker , Realtypath LLC (Home and Family)
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Principal Broker
EugenePontecorvo
Call Eugene today to schedule a private showing.
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