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    Multifamily Community in Central Utah Title is generated by Realmo AI

    800 W HIGHWAY Dr, Wellington, UT 84542

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    Claim this Listing
    For Sale
    $4,550,000

    MULTI_FAMILY - Other - Wellington, UT

    Property size:
    30,000 SF
    Lot size:
    3.13 Acres
    Price / SF:
    $151/SF
    Added:
    Sep 15, 2025
    Days on Market:
    250
    Last Refresh:
    May 22 at 11:06 pm

    Property Features for 800 W HIGHWAY Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Multi-Family
    Bedrooms
    75
    Bathrooms
    38
    Rooms
    Bathroom 28, Bathroom 15, Bedroom 65, Bedroom 61, Bedroom 74, Bathroom 24, Bedroom 51, Bedroom 26, Bedroom 25, Bathroom 19, Bedroom 56, Bathroom 5, Bedroom 40, Bedroom 59, Bathroom 1, Bathroom 32, Bathroom 33, Bedroom 54, Bathroom 6, Bedroom 28, Bedroom 75, Bathroom 3, Bedroom 39, Bedroom 4, Bedroom 18, Bathroom 37, Bedroom 31, Bathroom 22, Bathroom 31, Bedroom 20, Bedroom 57, Bathroom 9, Bedroom 19, Bedroom 30, Bedroom 55, Bedroom 53, Bathroom 36, Bedroom 7, Bedroom 12, Bedroom 64, Bathroom 16, Bedroom 21, Bedroom 69, Bathroom 23, Bedroom 47, Bedroom 1, Bedroom 48, Bedroom 67, Bathroom 8, Bathroom 7, Bathroom 38, Bedroom 35, Bedroom 68, Bedroom 24, Bedroom 17, Bathroom 21, Bathroom 17, Bedroom 43, Bedroom 11, Bathroom 20, Bedroom 62, Bathroom 13, Bedroom 23, Bedroom 71, Bedroom 63, Bathroom 14, Bathroom 10, Bathroom 26, Bedroom 27, Bedroom 58, Bathroom 18, Bedroom 29, Bedroom 10, Bathroom 30, Bedroom 34, Bathroom 11, Bedroom 13, Bedroom 46, Bedroom 16, Bedroom 22, Bathroom 35, Bedroom 70, Bedroom 5, Bedroom 3, Bedroom 50, Bedroom 14, Bedroom 32, Bedroom 66, Bedroom 9, Bedroom 15, Bathroom 2, Bedroom 45, Bedroom 37, Bedroom 33, Bedroom 72, Bedroom 44, Bathroom 4, Bedroom 36, Bedroom 42, Bedroom 6, Bathroom 25, Bedroom 49, Bathroom 34, Bedroom 52, Bedroom 73, Bedroom 41, Bedroom 8, Bedroom 60, Bedroom 38, Bathroom 27, Bathroom 12, Bathroom 29, Bedroom 2
    Parking
    36
    Parking features
    Covered
    Window features
    Blinds
    Patio and Porch features
    Patio, Deck
    Interior features
    Kitchen: Updated, Range/Oven: Free Stdng.
    Exterior features
    Balcony, Deck; Covered, Double Pane Windows, Patio: Covered
    Standard status
    Active
    APN
    1B-0077-0011
    Size
    30,000 SF
    Lot size
    3.13 Acres

    Taxes and HOA fees

    Tax Annual Amount
    24904

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas, Central

    Building Details

    Year built
    1980
    Floors in Building
    3
    Number of units
    37
    Flooring type
    Vinyl, Laminate, Carpet
    Building materials
    Composition, Clapboard
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Sean Shoemaker

    Listing agent Sean Shoemaker

    Listing office Realtypath LLC (Home and Family) 350 S 400 W, Sandy, UT

    Listing date Sep 15, 2025

    MLS# 2117038 Listing URL

    Copyright © 2026 UtahRealEstate.com. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Stabilized 37‑unit multifamily community with virtually zero vacancy.
    • Immediate income stability with a 5.5% cap rate based on below‑market rents, attractive upside potential through rent growth and operational efficiencies.
    • Spacious, bright units featuring in‑unit laundry, private balconies, and stunning valley views.
    • Ideally located along U.S. Highway 6, providing easy access to commercial, educational, and healthcare hubs.
    • Complemented by a community park and ample covered parking.
    • Updated kitchens and double pane windows.

    Overview

    The Ridges is a 37-unit multifamily community located in Central Utah. The property has experienced virtually zero vacancy under current management. The units are spacious and bright, featuring in-unit laundry, private balconies, and valley views. A community park and ample covered parking are available. The property offers a stabilized 5.5% cap rate based on below-market rents with 6% interest rate financing assumptions. Rent growth, operational efficiencies, and incremental property improvements provide upside potential. The property is positioned along U.S. Highway 6, the primary east-west route through Carbon County, connecting Wellington and Price. The property is situated on 3.13 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Ridges Housing Complex

    Suggested Use

    Restaurant Real Estate Agency Auto Repair Shop Electrical Service Pet Grooming Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wellington
    County
    Carbon
    State
    Utah
    Longitude
    -110.746116
    Latitude
    39.546392

    FAQs

    What type of property is this?
    Apartment building - 37-unit multifamily community with income stability and upside potential.
    Where is this apartment building located?
    The property is located at 800 W HIGHWAY Dr Wellington, UT.
    What is the asking price?
    The asking price for this property is $4,550,000.
    What are key features of this property?
    This property features: Stabilized 37‑unit multifamily community with virtually zero vacancy.; Immediate income stability with a 5.5% cap rate based on below‑market rents, attractive upside potential through rent growth and operational efficiencies.; Spacious, bright units featuring in‑unit laundry, private balconies, and stunning valley views.
    (801) 898-9261
    We can help!
    Listing Contact
    Sean Shoemaker
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    800 W HIGHWAY Dr, Wellington, UT 84542
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