347 4ThRexburg, ID 83440
- Apartment buildings
- 1.59 AC
Property Details for 347 4Th
- Year built
- 2003
- Lot size
- 1.59 AC
- Property type
- Apartment buildings
Description
Exceptional investment opportunity in Rexburg, Idaho, presents a stabilized 46-unit apartment building constructed in 2003. This Class B property boasts 100% occupancy, generating a strong NOI of $363,741 and a 5.35% cap rate. The asking price is $6,795,000, translating to $147,717 per unit. Situated on a 1.59-acre lot, the complex features two-story buildings with 88 parking stalls and 21 separately rentable storage units, providing added revenue streams. Its prime location offers convenient access to BYU Idaho campus (a 5-minute walk), Porter Park, and Hemming Village. The property's zoning is HDR1. A potential buyer may be able to assume the existing loan with a 4.35% interest rate. This multifamily investment presents a compelling opportunity for significant returns due to its strong financials, high occupancy rate, and desirable location. The property includes two separate APNs: RPR000K0013010 and RPR000K0013971. This is a turnkey operation with excellent potential for continued growth and profitability.
Location Insight
- City
- Rexburg
- County
- Madison
- State
- Idaho
- Latitude
- 43.8182
- Longitude
- -111.795
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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