Assumable Seller Financing | Duplex + 5-Space Mobile Home Park (7 Income Streams)
Duplex and five-space mobile home / manufactured housing property located in Horseshoe Bend. Assumable seller financing available (subject to approval).
PROPERTY OVERVIEW
Seven income streams on approximately 0.80 acres:
• Duplex – (2) 2 bed / 1 bath units (built 2002)
• Five mobile home spaces
– (2) Park-owned homes (home + pad rent)
– (3) Tenant-owned homes paying lot rent
CURRENT PERFORMANCE
• Effective Gross Income (2% vacancy): $67,561
• Net Operating Income: $50,896
• Cap Rate at list price: 6.79%
Vacancy has historically been minimal, with very short turnover periods between tenants and several multi-year residents in place.
UPSIDE OPPORTUNITY
Several long-term tenants are below current market rent.
Documented rent upside of approximately $9,600+ annually as leases renew.
• Projected Gross Income at market rents: $78,600
• Projected NOI: $60,362
• Projected Cap Rate: 8.05%
LOCATION
Located approximately 30 minutes north of Boise via Highway 55. Several current tenants commute to Boise and the greater Treasure Valley.
UTILITIES & OPERATIONS
• City water and sewer
• Separately metered electricity
• On-site irrigation well
• Straightforward management
Assumable seller financing available (subject to approval).
Full financials and rent roll available upon request.