600 Virginia St, New Meadows, ID 83654-1001
- Commercial land
- 0.25 lot acres
Current Use by Public Records
- Commercial land
Property Details for 600 Virginia St
- Lot size
- 0.25 lot acres
- Property type
- Commercial land
- APN
- RPM01400010010
- APU
- RPM01400010010
Description
This exceptional investment opportunity presents the Heartland Apartments, a fully leased, 16-unit apartment complex located at 600 Virginia St, New Meadows, ID 83654. Built in 2023, this property boasts 17,000 square feet and comprises four, two-story buildings. Each unit includes two parking spaces. The complex offers a mix of unit configurations: one ADA-compliant unit featuring two bedrooms and 1.5 bathrooms, and fifteen units with two bedrooms and two bathrooms, each spanning 1,040 square feet. All units are equipped with in-unit laundry, full kitchens (including refrigerators and dishwashers), and ample natural light via large windows and sliding glass patio doors. Currently operating at 100% occupancy (as of November 22, 2023), this property presents a strong cash flow with a 4.80% cap rate and an asking price of $4,200,000 ($262,500 per unit and $247.06 per square foot). Its prime location in New Meadows, just a 15-minute drive from McCall, Idaho, capitalizes on the growing demand for housing in the area. Detailed financial information is available upon request. This is a turnkey investment ready for immediate income generation.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- New Meadows
- County
- Adams
- State
- Idaho
- Longitude
- -116.279
- Latitude
- 44.9711
