OAK CREEK APARTMENTS

Download Marketing Package & Financial Summary Here

Download Oak_Creek_Ephraim_UT_1-23-2017.pdf
OAK CREEK APARTMENTS
  • Located less than a mile to Snow College
  • Easy Access to Highway 89
  • Minutes from public schools, restaurants, and shopping
  • Low Historical Vacancy with Rents Below Max Net Rent

323 S 430 E
Ephraim, UT 84627

  • Status: Closed
  • Price: $1,000,000
  • # of Units: 30
  • Rentable SF: 24,636
  • Price per Unit: $33,333
  • Price per SF: $40.59
  • Year Built: 2001
  • # of Buildings: 3
  • Lot Size: 1.52 Acres
  • Density: 19.74 Units/ Acre
  • # of Stories: 2
  • Download Marketing Package:
  • Description:

    • Oak Creek Apartments is a 30-unit affordable housing community located in Ephraim, UT. The property was built and placed into service in 2001 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. The property is conveniently located near schools, shopping, entertainment, employment, restaurants, and Snow College.

      There is an existing regulatory agreement in place which requires all units to be rented income qualifying residents earning no more than 45%, 48%, 50%, 51%, 52%, and 55% of Area Medium Income (AMI) limits, which are provided by the Utah Housing Corporation. The property is out of its initial tax credit compliance period. A qualified purchaser can be a non-profit or for-profit entity that agrees to maintain the affordable housing units and to fulfill all requirements of an existing regulatory agreement.

      Oak Creek consists of one, two, and three bedroom apartments. Residents of enjoy a full appliance package, community center, playground, on-site laundry facilities, and washer and dryer connections in select units.

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