The Ridges
Excellent cash flowing property with large easy to maintain units in growing market.
Marketing description
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 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.
Investment highlights
- 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 6.41% 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; Castle view Hospital; Utah Department of Transportation; Axios Utah Trail Network Announcement.
- Strategic Position on the Price Corridor The Ridges occupies a prime location along U.S. Highway 6—the primary east–west route through Carbon County—connecting Wellington and Price. As the county seat and largest city in the region, Price serves as the commercial, educational, and healthcare hub for eastern Utah. Positioned just over an hour from Utah County, Price is the main gateway to Central Utah and a key stop en route to several of the state’s premier national parks, including Moab and Arches. The city anchors the area’s retail, medical, and government services, supporting steady housing demand across surrounding submarkets.
- Key Employment and Economic Drivers Utah State University Eastern (USU Eastern) provides local higher education, workforce training, and steady student and faculty housing demand. Castle view Hospital anchors the healthcare sector, serving Carbon and Emery Counties with inpatient and outpatient services and offering professional employment stability. National retailers and logistics operators, including Walmart, sustain local employment and consumer activity in Price. Energy production, mining, and tourism related to nearby recreation areas such as Jurassic National Monument contribute additional economic diversity and visitor activity.
- Public Investment and Infrastructure Momentum The Utah Department of Transportation (UDOT) has launched a 2025 construction program totaling $1.68 billion across 152 projects statewide, including improvements to the U.S. 6 and U.S. 191 intersection in Carbon County. These upgrades enhance connectivity, safety, and commuter access to the Price corridor. Utah has also committed $95 million toward a statewide paved trail network, signaling long-term investment in mobility, recreation, and quality of life that supports the region’s livability and attractiveness.
- 8 remodeled units:
- 7 Units have new AC, removed stacks, new grey paint and updated kitchens
- 1 unit has new flooring, updated kitchen layout and original cabinets, new paint (not grey but it is two tone), no fireplace (chimney is in place). The Furnace is also new.
- 4 or 5 units have new LVP flooring beyond the 8 remodeled units.
- 10 additional units have new or newer AC units (bringing the total units with new/newer AC to 17). The clubhouse is one of the units with updated AC.
- All but 10 units have had furnaces replaced
- Garage/Parking: Parking: Covered; Parking: Uncovered
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