71 Freeman Ln Hope, ID 83836

Property Details for 71 Freeman Ln

Year built

2002

Lot size

5.19 lot acres

Property size

7,620 SF

Property type

Residential income homes

Description

This exceptional investment opportunity presents a 5-unit multifamily property situated on 5.19 acres of recreationally zoned land in Hope, Idaho. The portfolio comprises five buildings totaling 7,620 square feet, including a 3,168 sq ft main house with four ensuite bedrooms, three identical 1,260 sq ft homes, and a 672 sq ft cabin. All units are currently 100% occupied, generating a strong pro-forma NOI of $180,219 and a 9.49% cap rate. Built in 2002, the property features a high-producing community well, RV hookups, and ample space for potential expansion, including additional units or RV spaces. The property's prime location at the base of the Cabinet Mountains offers unparalleled access to outdoor recreation, including 50 miles of groomed snowmobile trails, abundant camping, hiking, and hunting opportunities. Nearby attractions include the Idaho Club golf course (4.5 miles), Schweitzer Mountain Ski Resort (17 miles), and Lake Pend Oreille (the largest lake in Idaho). The property's recreational zoning allows for diverse income streams, making it ideal for long-term rentals, short-term rentals, or a combination thereof. With its existing infrastructure and potential for expansion, this property represents a compelling investment opportunity in a rapidly growing recreational area. The property also includes a shop and additional storage building. A public beach and boat launch are conveniently located across the street. The level, open lot features mature trees and highway frontage. Subdivision potential exists, adding further value to this exceptional offering. The asking price is $1,900,000.

Location Insight

City

Hope

County

Bonner

State

Idaho

Longitude

-116.348

Latitude

48.2829