111 Adams St - Multi-Family FOR SALE


Horseshoe Bend, ID 83629
$749,900 USD
208-866-5540
111 Adams St, Horseshoe Bend, ID for Sale
$749,900 USD
Multi-Family - FOR SALE
1/13
null | 6.79% Cap Rate

111 Adams St
Horseshoe Bend, ID 83629


HIGHLIGHTS

  • Assumable Seller Financing Available (Subject to Approval)
  • 7 Income Streams on 0.80 Acres
  • In-Place Cap Rate: 6.83%
  • Market Cap Rate: 8.04%
  • $9,600+ Annual Rent Upside

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$749,900 USD

PRICE/SF

$203 USD /SF

# OF UNITS

7

PRICE/UNIT

$107,129

CAP RATE

6.79%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Seller Financing | Duplex + 5-Space MHP

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2002

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.8 AC

LAND SF

34,848 SF

ZONING

-

APN/PARCEL ID

RPH0000034008A

ASK ABOUT THIS PROPERTY

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208-866-5540

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Chet PipkinChet PipkinMore Info
208-866-5540

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.