0 Tbd BighornPayette, ID 83661

Property Details for 0 Tbd Bighorn

Year built

2024

Lot size

0.34 AC

Property size (Sq ft)

3,720 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 4-unit apartment building in Payette, Idaho's Big Sky subdivision presents a compelling investment opportunity. Scheduled for completion in October 2024, this newly constructed, two-story building boasts 3,720 square feet on a 0.34-acre lot. Each of the four units features two bedrooms and two bathrooms, complete with washer/dryer hookups, LVP flooring, and kitchens equipped with gas stoves and dishwashers. Ample parking is provided via a four-place carport. All utilities are tenant-paid, contributing to strong cash flow. The property offers a compelling cap rate of 8.62% and a net operating income (NOI) of $67,200, with an asking price of $780,000 ($195,000 per unit and $209.68 per square foot). Currently vacant, the property is poised for immediate occupancy upon completion. This development is part of a larger project, surrounded by five similar buildings, indicating strong potential for future appreciation in a high-demand affordable housing market. The building is offered fee simple. While the final finishes may vary slightly from the illustrative photos, this property represents a solid investment in a thriving Idaho community.

Location Insight

City

Payette

County

Payette

State

Idaho

Latitude

44.0782

Longitude

-116.934

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