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    Furnished Multi-Unit Investment Property Title is generated by Realmo AI

    1221 21st St., Heyburn, ID 83336

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    Fully furnished, multi-unit property with income potential in Heyburn, ID.

    Type:Multifamily, Hospitality, Mixed Use, Senior Living
    Property size:
    4,624 SF
    Price / SF:
    $237/SF
    Added:
    Oct 31, 2024
    Days on Market:
    573
    Last Refresh:
    May 12 at 8:44 pm

    Property Features for 1221 21st St.

    General Information

    Standard status
    Active
    Size
    4,624 SF
    Property subtype
    Multifamily, Hospitality, Mixed Use, Senior Living

    Building Details

    Year Built
    2018

    We can help!

    Listing Contact
    Krystal Young

    Listing agent Krystal Young License #SP47463

    Listing office Keller Williams Sun Valley Southern Idaho

    Listing date Oct 31, 2024

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Sun Valley Southern Idaho

    HighLights

    • Multi‑unit property with established income potential from nightly rentals, corporate housing, and long‑term leasing.
    • Fully furnished with 12 bedrooms and 14 bathrooms.
    • Each room features a private outside entrance, kitchenette, private ADA bath, and individual temperature control.
    • Built in 2018, indicating modern construction.
    • Common areas include a living room with fireplace, fully equipped kitchen, dining area, and private meeting room.
    • Includes practical amenities such as 3 laundry rooms, 2 private courtyards, and 13 individual mailboxes.

    Overview

    This fully furnished, multi-unit property in Heyburn, ID, presents an investment opportunity with income potential. Currently utilized for nightly rentals, corporate housing, and long-term leasing, the property offers flexibility for various accommodation needs. The meticulously maintained building features 12 bedrooms and 14 bathrooms. Each room includes a private outside entrance, kitchenette, private ADA-compliant bathroom, basic cable, internet and Wi-Fi options, telephone landline, TV, and individual temperature control. Common areas include a living room with a fireplace and TV, a large fully equipped kitchen, a dining area, a private dining/meeting room, a guest bathroom, and a bathroom with a walk-in tub. Additional amenities include three laundry rooms (one in each wing), two private courtyards, 13 individual mailboxes, and off-street parking. The property spans 4624 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Greystone Crossing Hotel & Motel

    Suggested Use

    Real Estate Agency Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Auto Repair Shop Accounting Firm Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Heyburn
    County
    Minidoka
    State
    Idaho
    Longitude
    -113.761438
    Latitude
    42.561215

    Nearby Similar for Sale

    • $1,100,000
      4,624 SF

      Heyburn Multi-Unit Investment Property

      Fully furnished multi-unit property with income potential in Heyburn, ID.
      1221 21st, Heyburn, ID 83336
      View Details
    • $485,000
      2,232 SF

      Newer Heyburn Duplex For Sale

      Modern duplex built in 2021 with tenant in place.
      1732 and 1734 Dollys Way, Heyburn, ID 83336
      View Details

    FAQs

    What type of property is this?
    Short term rental property - Fully furnished, multi-unit property with income potential in Heyburn, ID.
    Where is this short term rental property located?
    The property is located at 1221 21st St. Heyburn, ID.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: Multi‑unit property with established income potential from nightly rentals, corporate housing, and long‑term leasing.; **Fully furnished with 12 bedrooms and 14 bathrooms.**; **Each room features a private outside entrance, kitchenette, private ADA bath, and individual temperature control.**
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Krystal Young
    Real Estate License ID: SP47463
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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