307 9Th St Payette, ID 83661

This exceptional investment opportunity presents a rare chance to acquire a 12-unit multifamily property in Payette, Idaho. The property encompasses three buildings totaling 7,619 square feet on a half-acre corner lot featuring mature trees. The centerpiece is the historic Chase House, a 2,941 square foot building constructed in 1893 and listed on the National Historical Register, boasting stunning architectural details including stained glass, a turret, and original woodwork. The property also includes ten apartment units – nine one-bedroom/one-bathroom and one two-bedroom/one-bathroom – and a two-story townhome unit. Currently operating at 92% occupancy, the property generates a NOI of $61,217, with a projected NOI of $91,512 based on a pro-forma analysis. The asking price is $1,075,000, representing a price per square foot of $141.09 and a price per unit of $89,583.33. The property's B-class designation and 5.69% cap rate (8.51% pro-forma) offer significant value-add potential. Renovations were completed in 2018. The property is offered fee simple and presents endless possibilities for redevelopment or continued operation as a stable rental income generator. The property's address is 307 N 9th St, Payette, ID 83661, and the APN is P1110002001A. The projected occupancy date is July 9, 2024.