8728 Old Highway 30
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8728 Old Highway 30
38 Unit Block of Flats £2,269,105 (£59,713/Unit) 9.50% Net Initial Yield Hammett, ID 83627
Investment Highlights
- All units single level, metal,and concrete construction
- Positioned on 14.6 acres, water rights included.
Executive Summary
41 units. These are great rental units with metal roofs and fresh osb underlayment and insulation. Cement floors, insulated cinderblock walls. Newer well and septic that Handel the whole property. 2 wells with well rights and kinghill irrigation water rights for the whole property. These units have stayed full for years. Excellent managers in place as well.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£253,514
|
£8.24
|
| Other Income |
£2,817
|
£0.09
|
| Vacancy Loss |
£3,912
|
£0.13
|
| Effective Gross Income |
£252,418
|
£8.21
|
| Taxes |
£6,260
|
£0.20
|
| Operating Expenses |
£46,947
|
£1.53
|
| Total Expenses |
£53,207
|
£1.73
|
| Net Operating Income |
£199,212
|
£6.48
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £253,514 |
| Annual Per SF | £8.24 |
| Other Income | |
|---|---|
| Annual | £2,817 |
| Annual Per SF | £0.09 |
| Vacancy Loss | |
|---|---|
| Annual | £3,912 |
| Annual Per SF | £0.13 |
| Effective Gross Income | |
|---|---|
| Annual | £252,418 |
| Annual Per SF | £8.21 |
| Taxes | |
|---|---|
| Annual | £6,260 |
| Annual Per SF | £0.20 |
| Operating Expenses | |
|---|---|
| Annual | £46,947 |
| Annual Per SF | £1.53 |
| Total Expenses | |
|---|---|
| Annual | £53,207 |
| Annual Per SF | £1.73 |
| Net Operating Income | |
|---|---|
| Annual | £199,212 |
| Annual Per SF | £6.48 |
Property Facts
| Price | £2,269,105 | Building Class | C |
| Price Per Unit | £59,713 | Lot Size | 14.60 AC |
| Sale Type | Investment | Building Size | 30,758 SF |
| Net Initial Yield | 9.50% | Average Occupancy | 95% |
| No. Units | 38 | Number of Floors | 1 |
| Property Type | Residential | Year Built | 1980 |
| Property Subtype | Apartment | Parking Ratio | 2.15/1,000 SF |
| Apartment Style | Garden |
| Price | £2,269,105 |
| Price Per Unit | £59,713 |
| Sale Type | Investment |
| Net Initial Yield | 9.50% |
| No. Units | 38 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 14.60 AC |
| Building Size | 30,758 SF |
| Average Occupancy | 95% |
| Number of Floors | 1 |
| Year Built | 1980 |
| Parking Ratio | 2.15/1,000 SF |
Unit Amenities
- Heating
- Kitchen
- Range
Site Amenities
- Courtyard
- Basketball Court
- Wheelchair Accessible
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 18 | £547.72 | 750 |
| 2+1 | 9 | £625.96 | 1,000 |
| 3+1 | 11 | £704.21 | 1,100 |
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PROPERTY TAXES
| Parcel Number | RP05S08E364410A | Total Assessment | £515,224 |
| Land Assessment | £38,121 | Annual Taxes | £6,260 (£0.20/sf) |
| Improvements Assessment | £477,103 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
RP05S08E364410A
Land Assessment
£38,121
Improvements Assessment
£477,103
Total Assessment
£515,224
Annual Taxes
£6,260 (£0.20/sf)
Tax Year
2023
zoning
| Zoning Code | AG (Residential) |
| AG (Residential) |
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Presented by
Clark & Verena Flake
8728 Old Highway 30
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