5739 Coffey St Garden City, ID 83714
- Residential income homes
- 0.89 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 5739 Coffey St
- Year built
- 2020
- Lot size
- 0.89 lot acres
- Property type
- Residential income homes
Description
This exceptional Class A multifamily investment opportunity presents 13 individual, unattached single-family rental units situated on a 0.89-acre lot in desirable Garden City, Idaho. Built in 2020, the portfolio boasts a 100% occupancy rate, generating a substantial net operating income (NOI) of $204,000 and a compelling 4.08% cap rate. The asking price is $5,000,000, representing a price per unit of $384,615.38. Twelve of the units include a single-car garage, while the thirteenth unit, designed as a clubhouse, features a full bath and sleeping loft. All units are fully furnished, offering a turnkey investment opportunity. The property's prime location is just a block from the Boise River Greenbelt, providing exceptional tenant appeal. The current income stream is diversified, with a mix of long-term and short-term (Airbnb/VRBO) rentals. Zoned R-3 by the City of Garden City, there is potential for future condo conversion (subject to city approval). The property consists of thirteen two-story buildings on a single parcel. Please conduct drive-by viewings only
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Garden City
- County
- Ada
- State
- Idaho
- Longitude
- -116.285
- Latitude
- 43.6576
