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Balanced Rock Apartments 439 Maple St

4 Unit Block of Flats £389,692 (£97,423/Unit) 7.80% Net Initial Yield Castleford, ID 83321

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Investment Highlights

HUD Guaranteed Rents
High Demand, low vacancy

Many recent updates
Additional utility reimbursement through HUD program

Executive Summary

Guaranteed rents through HUD Section 8 housing. Well priced 4-plex in Castleford, Idaho. Must sell with the second 4-plex located at 321 Main, for a combined price of $995,000. These units have had extensive upgrades in the last few years - windows, roofs, paint, sidewalks, etc., ... Buyer will need to be approved for the HUD program and procure a HUD approved manager or become approved themselves to self-manage. Once you are in the program, you can add additional units anywhere in Idaho as they come available. Low turnover as tenants receive rent assistance based upon ability to pay + a utility allowance. Proforma rents are the new rates for 2024 which will begin as the leases turn over. Please do not disturb tenants. Seller may elect to do an IRC Section 1031 Exchange at no cost to buyer. BTVA.

Castleford 8 Unit Proforma

Property Facts

Price	£389,692	Apartment Style	Garden
Price Per Unit	£97,423	Building Class	B
Sale Type	Investment	Lot Size	0.29 AC
Net Initial Yield	7.80%	Building Size	3,944 SF
Sale Conditions	1031 Exchange Portfolio Sale	Average Occupancy	100%
No. Units	4	Number of Floors	2
Property Type	Residential	Year Built/Renovated	1982/2020
Property Subtype	Apartment

Price	£389,692
Price Per Unit	£97,423
Sale Type	Investment
Net Initial Yield	7.80%
Sale Conditions	1031 Exchange Portfolio Sale
No. Units	4
Property Type	Residential
Property Subtype	Apartment
Apartment Style	Garden
Building Class	B
Lot Size	0.29 AC
Building Size	3,944 SF
Average Occupancy	100%
Number of Floors	2
Year Built/Renovated	1982/2020