investment offering memorandum spring creek …
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P. 1997 EAST 1060 SOUTH | PROVO, UTAH
SPRING CREEK TOWNHOMES INVESTMENT OFFERING
SPRING CREEK TOWNHOMES997 EAST 1060 SOUTH PROVO, UTAH
INVESTMENT OFFERING MEMORANDUM
Gordon Jacobson+1 801 597 [email protected]
EXCLUSIVE REPRESENTATION BY
RARE OPPORTUNITY ZONE NEW CONSTRUCTION!
P. 2997 EAST 1060 SOUTH | PROVO, UTAH
SPRING CREEK TOWNHOMES INVESTMENT OFFERING
OPPORTUNITY ZONE / 1031 EXCHANGE MAJORITY INTEREST AVAILABLE IN AN EXCITING TOWNHOME PROJECT IN PROVO, UTAH.
PROPERTY FEATURES • Finished units sold!
• 32 Units in Phase 3 & 4 with completion in less than 180 days
• Qualified Opportunity Zone
• Up to 4x your QOZ holding and tax advantage with additional leverage
• 2 miles from BYU campus
• 3 Bed 2.5 Bath
• Oversized 2-car garages
• Community open space on-site
• One block from spectacular new Provo City Park
• High growth area with rapid appreciation
INVESTMENT SNAPSHOT
Sale Price per unit (32 Units) $330,000
Gross Monthly Rent per unit(Similar units rent for $1,600-$1,800/Month) $1,750.00
Operating Expense Factor (25%) ($437)
Net Monthly Income per Unit $1,312.50
Additional Income
Internet Package Profit $30
Pet Rental Income (average) $40
Net Annual Income per Unit $16,590.00
Investment CAP Rate 5.10%
All exterior building and property maintenance is by the HOA, including roofs, landscaping, asphalt and building insurance
Monthly Utilities Expenses by Tenant
Questar Gas Monthly Average $31.83
Rocky Mtn Power Monthly Average $50.00
Water (included in HOA dues) $0
Total Average Monthly Utilities Expense $81.83
P. 3997 EAST 1060 SOUTH | PROVO, UTAH
SPRING CREEK TOWNHOMES INVESTMENT OFFERINGPROPERTY PHOTOS
Stainless Appliance Package Included
Granite Counter-tops Throughout
P. 4997 EAST 1060 SOUTH | PROVO, UTAH
SPRING CREEK TOWNHOMES INVESTMENT OFFERINGPROPERTY PHOTOS
Final Phase Construction Spacious Open Plan
BUILDING 11BUILDING 11
BUILDING 12BUILDING 12
BUILDING 9BUILDING 9BUILDING 10BUILDING 10
BUILDING 11BUILDING 11BUILDING 12BUILDING 12
BUILDING 8BUILDING 8
TOTAL OF 32 UNITSTOTAL OF 32 UNITS Provo City Park
P. 5997 EAST 1060 SOUTH | PROVO, UTAH
SPRING CREEK TOWNHOMES INVESTMENT OFFERING
SITE PLAN
1000
E
AS
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TE S
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#13964 E.
#12966 E.
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1060 SOUTH
1000
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AS
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PHASE 1
#7998 E.
#141012 E.
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#321052 S.
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#47975 E.
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960
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1010 S.
1060 S.
1020 S.
PHASE 2
PHASE 4
Proj #
OF SHEETS
DateNo. Revision
11178 - 1299
PHASE 3UNDER CONSTRUCTION
COMMON AREA
Bulk sale of up to 32 unitsBU
ILDI
NG 9
BUIL
DING
9BUILDING 10BUILDING 10
BUILDING 11BUILDING 11
BUILDING 12BUILDING 12
BUILDING 8BUILDING 8
PHASE 1 - SOLD OUTPHASE 1 - SOLD OUTPHASE 2 - SOLD OUTPHASE 2 - SOLD OUT
FUTUREFUTUREPHASE 5PHASE 5
P. 6997 EAST 1060 SOUTH | PROVO, UTAH
SPRING CREEK TOWNHOMES INVESTMENT OFFERINGLOCATION MAP
SITEEasy Freew
ay Access
Easy Freeway Access
AccessAccess
StationStation
P. 7997 EAST 1060 SOUTH | PROVO, UTAH
48%OF UTAHNS HAVE
OBTAINED POSTSECONDARYCERTIFICATES OR DEGREES
(UTAH.GOV)
MORE THAN
35HIGHER EDUCATION
INSTITUTIONS IN UTAH(NATIONAL DATABASEOF SCHOLARSHIPS)
OVER
79THOUSANDDEGREES AWARDED
IN 2017(DATAUSA.IO)
Utah boasts a HighlyEducated & Skilled
Workforce
UTAH IS EXPERIENCINGOVERWHELMING JOB GROWTH IN
CONSTRUCTION, FINANCIAL,HEALTH &
TECHNOLOGYSECTORS(UTAH.GOV)
ABOUT
54.5THOUSAND
JOBS ADDED TO UTAH’S ECONOMY FROM
JULY 2018-JULY 2019(U.S. BUREAU OF
LABOR STATISTICS)
Opportunities forJobs & Careers
in Utah are Plentiful
ONE OF THE FASTESTGROWING STATES IN THE U.S.
20.7%POPULATION INCREASE
2010-2020(ESRI BAO)
MEDIAN AGE OF
30.9THE YOUNGEST STATE INTHE U.S. BY MEDIAN AGE
(ESRI BAO)
Utah is aYoung & High-Growth
State
THERE ARE MORE THAN
571THOUSAND
MORE PEOPLE IN UTAHTHAN THERE WERE IN 2010
(ESRI BAO)
UTAH NAMED
#2BEST STATE
FOR BUSINESS IN 2018(FORBES)
RANKED
2ndBEST STATE FOR
OVERALL ECONOMY(U.S. NEWS: BESTSTATES RANKING)
AMONG THE TOP STATESIN THE U.S. FOR JOB GROWTH
3.6%UTAH’S JOB GROWTH RATE
JULY 2018-JULY 2019(U.S. BUREAU OF
LABOR STATISTICS)
TheEconomic Conditions
in Utah are Great
ABOUT
15%OF UTAH RESIDENTS SPEAK
A LANGUAGE OTHERTHAN ENGLISH AT HOME
(THE SALT LAKE TRIBUNE)
OVER
120LANGUAGES
SPOKEN IN UTAH(DESERET NEWS)
MORE THAN
246THOUSANDSPANISH SPEAKERS(U.S. CENSUS BUREAU)
Utah contains aMultilingualPopulation
RANKED
4thBEST STATE FOR
VENTURE CAPITAL(U.S. NEWS: BESTSTATES RANKING)
WHY UTAH?
SPRING CREEK TOWNHOMES INVESTMENT OFFERING
P. 8997 EAST 1060 SOUTH | PROVO, UTAH
SPRING CREEK TOWNHOMES INVESTMENT OFFERING
PROVO, UTAH
Provo lies between the cities of Orem to the north and Springville to the south. With a population in 2020 of 128,905, and a median age of 23.7. Provo is one of the principal city in the Provo-Orem Metropolitan Area, which includes all of Utah and Juab counties. It is Utah’s second-largest metropolitan area after Salt Lake City. Provo is Utah's 3rd largest city.
In 2015, Forbes cited Provo among the “Best Small And Medium-Size Cities For Jobs,” and the Bureau of Labor Statistics found that Utah County had the year’s highest job growth in the state. In 2019, Forbes ranked Provo the #1 city in the nation for job growth and the #6 city on its list of Best Places for Business and Careers. Provo was ranked first for community optimism (2012) and first in health/well-being (2014).
Provo is home to Brigham Young University, a top technology transfer institution that has helped create a vibrant technology economy. The Provo-Orem region has placed outside the Top 25 in the annual Milken Institute report only once since 2008, and has ranked in the Top 3 for the last five years.
BYU is a major source of employment in the region, contributing significantly to the 24,000 jobs in educational services overall. The university also contributes to the vibrancy of the region by attracting students, who support consumer spending and have the opportunity to join the local workforce upon graduation.
Technology has been a major driver of economic growth in the Provo-Orem metro area. The region ranked 3rd among large metros for technology industry growth, adding roughly 5,500 jobs between 2011 and 2016. The Milken Institute ranked Provo-Orem #2 in the country for best performing large cities stating, the region has gained a solid reputation for hosting young startups due to strong support from local educational institutions and an accommodating lifestyle.
RANKED
6thBEST PLACE FOR
BUSINESSES & CARRERS
(FORBES)
RANKED
1stIN THE NATION FOR
JOB GROWTH(FORBES)
RANKED
3rdBEST PLACE FOR
TECHNOLOGYINDUSTRYGROWTH(MILKEN INSTITUTE)
P. 9997 EAST 1060 SOUTH | PROVO, UTAH
SPRING CREEK TOWNHOMES INVESTMENT OFFERING
RELATED DOCUMENTS
STANDARD FINISHES & CONSTRUCTION
PROVO / OREM HOUSING MARKET ANALYSIS
U.S. Department of Housing and Urban DevelopmentOffice of Policy Development and Research
WASATCH FRONT OPPORTUNITY ZONES
QUALIFIED OPPORTUNITY ZONES
How They Work And How They Can Work For You
SPRING CREEK TOWNHOMES997 EAST 1060 SOUTH PROVO, UTAH
INVESTMENT OFFERING MEMORANDUM
RARE OPPORTUNITY ZONE NEW CONSTRUCTION!
Gordon Jacobson+1 801 597 [email protected]
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