405 2Nd Mountain Home, ID 83647

Property Details for 405 2Nd

Lot size

0.22 lot acres

Property type

Commercial real estate

APN

RPA009000A022AA

APU

RPA009000A022AA

Description

This exceptional investment opportunity presents an eight-unit apartment building in the heart of Mountain Home, Idaho. Boasting a desirable location, this property offers a compelling blend of immediate income and significant value-add potential. The complex comprises two buildings: a larger seven-unit structure and a separate one-unit cottage, totaling 4,284 square feet. Currently operating at 100% occupancy, the property generates a strong net operating income (NOI) of $50,926, with a pro-forma NOI projected at $54,700, reflecting a 6.70% current cap rate and a projected 7.20% pro-forma cap rate. The asking price is $760,000, or $95,000 per unit. Built in 1895, the property underwent significant renovations in 2022, including a new roof, exterior paint, and most windows. Other recent improvements include a new electrical meter and main service panel (2020), new gutters (2022), and new exterior stairs (2024). Five of the eight units have been updated since 2020. The property features six parking spaces and is zoned C2. Its central location places it across from the newly renovated Towne Center Apartments, a block from Albertson's grocery store, and near Railroad Park and the Mountain Home Farmer's Market. Convenient access to I-84 and Mountain Home Air Force Base adds to its appeal. The property is being sold "as-is," with an available AAD inspection report. This is a rare chance to acquire a well-maintained, high-performing multifamily asset in a thriving Idaho community.

Location Insight

City

Mountain Home

County

Elmore

State

Idaho

Longitude

-115.696

Latitude

43.1337

CBSA code

34300

CBSA name

MOUNTAIN HOME, ID MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments