475 4ThMountain Home, ID 83647

Property Details for 475 4Th

Year built

1945

Lot size

1.27 AC

Property size (Sq ft)

55,321 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents Shady Acres Mobile Home Park, a 12-unit multifamily property situated on a 1.27-acre lot in Mountain Home, Idaho (475 E 4th S, 83647). Built in 1945 and zoned R4, the park boasts 55,321 square feet and currently enjoys a 92% occupancy rate. The property features newly renovated homes, providing immediate cash flow. The current Net Operating Income (NOI) is $83,294, yielding a pro-forma cap rate of 8.60%. A pro-forma NOI of $48,365 is also available. Municipal water and sewer services are in place. Further value-add potential exists with one vacant pad suitable for a large mobile home or two smaller modular units. Additional income is generated from a storage/shop lease. The park's operating expenses are partially offset by reimbursements for water, sewer, and trash services from tenants. The asking price is $975,000, translating to $88,636 per unit. This property offers a compelling combination of stable income and significant upside potential for a savvy investor. The location within city limits provides convenient access to amenities and services.

Location Insight

City

Mountain Home

County

Elmore

State

Idaho

Latitude

43.1286

Longitude

-115.688

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