488 Clinton St Pocatello, ID 83204
- Apartment buildings
- 2,856 SF
Current Use by Public Records
- Apartment buildings
Property Details for 488 Clinton St
- Year built
- 1999
- Property size
- 2,856 SF
- Property type
- Apartment buildings
Description
This well-maintained, two-unit duplex in Pocatello, Idaho presents a compelling investment opportunity. Built in 1999, this two-story building boasts a total of 2,856 square feet, with each unit offering three bedrooms and 2.5 bathrooms, a one-car garage, and a fenced yard complete with a storage shed. Currently generating a net operating income (NOI) of $15,742, with a pro-forma NOI of $21,022, the property offers a 3.84% cap rate and a pro-forma cap rate of 5.13%. The asking price is $410,000, translating to $205,000 per unit and $143.56 per square foot. One unit has a month-to-month lease at $1,200 per month, while the other, occupied by a long-term tenant (over 15 years), is also on a month-to-month lease at $1,100 per month. Market rent is estimated at approximately $1,400 per unit, indicating significant upside potential. Adding to its appeal, the property includes an additional 0.12-acre parcel of land at the rear, which the city has indicated could be subdivided and developed, further enhancing its value. Its prime location near Indian Hills Elementary School and Riverside Golf Course provides easy access to schools, shopping, and recreational amenities. This property offers flexibility for future rent increases or owner-occupancy, making it an exceptional investment opportunity in a desirable Pocatello neighborhood.
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
- Pocatello
- County
- Bannock
- State
- Idaho
- Longitude
- -112.434
- Latitude
- 42.8448
