$1,220,750
Priest River, ID 83856
MLS# 23-5917
Status: Closed
9980 sqft
1 / 23
Property Description
8 unit Apartment Complex, all 2 bed, 1 bath units, + large Main House, and a Mfg. Home. Strong rental history. Situated on 1.54 acres. Located in Laclede between Sandpoint (14 miles) and Priest River (8 miles). 3004 sq ft main house has 2 separate entrances that can be rented as 2 units. Originally built and used as a ministry, providing housing for people in the church. Rents were nominal and remain far below market. Market rents for comparable units is $1,200. Each unit currently rents for $680. Proforma with rents @ $1,000 is 9.91 cap rate. The property currently generates GSI of $87,000 2022 actual.
Details
Maps
Documents
Contract Information
Status: Closed
Listing Type: Multi Family
Area: North (Bonner & Boundary)
Sold Date: 2023-12-06
Neighborhood Grid #: 440
Begin Date: 2023-06-28
List Price: $1,220,750
Under Contract Date: 2023-11-22
Short Sale: No
REO: No
Financing: Cash
General Property Description
Realtor.COM Type: Multi-Family
Number of Units: 11
2 BR units: 11
Building Style: Multi Level
Basement: Yes
Garage Stall: 2 Car
Total SqFt.: 9980
SqFt. 1: 3004
SqFt. 2: 6052
SqFt. 3: 924
ESTIMATED SqFt Source: Assessor
SqFt Per: Bldg
Year Built: 1984
New Construction: No
Lot Acres: 1.54
Lot Type 1: Duplex/Multi
Legal and Taxes
Legal: Lot 2 of Parent Parcel RP56N03W303137A
AIN/Tax Bill: 18460
Parcel Number: RP56N03W303137A
School District: West Bonner - 83
Zoning: Suburban
Directions: From Sandpoint take US-2 14 miles to Riley Creek Rd and turn Right. Property will be half a mile up the road on the left.
Taxes: 3711
Tax Year: 2022
Taxes Reflect 1: No Exemptions
Subdivision: N/A
Remarks
Public Remarks: 8 unit Apartment Complex, all 2 bed, 1 bath units, + large Main House, and a Mfg. Home. Strong rental history. Situated on 1.54 acres. Located in Laclede between Sandpoint (14 miles) and Priest River (8 miles). 3004 sq ft main house has 2 separate entrances that can be rented as 2 units. Originally built and used as a ministry, providing housing for people in the church. Rents were nominal and remain far below market. Market rents for comparable units is $1,200. Each unit currently rents for $680. Proforma with rents @ $1,000 is 9.91 cap rate. The property currently generates GSI of $87,000 2022 actual.
Address
Street Number: 566
Street Direction Pfx: N
Street Name: Riley Creek
Street Suffix: Rd
State/Province: ID
Postal Code: 83856
County: Bonner
Property Subject To
CC&Rs: No
Homeowners Assoc: No
LID: Yes
Non-Mtg Lien: No
Flood Zone: No
Aircraft Flight Zone: No
Fire Protection Dist: Yes
Fire Protection Name: Westside Fire
Miscellaneous
Sec: 30
Twn: 56N
Rng: 03
Rng Dir: WBM
Utilities Paid By
Cable: Tenant
Electric: Landlord
Garbage: Landlord
Water: Landlord
Property Features
View: Mountain(s); Territorial
Lot Features: Level; Open
Fuel: Electric; Oil
Heating: Forced Air
Basement: Daylight; Finished; Walk-Out Access
Foundation: Slab
Construction: Block; Brick; Concrete; Manufactured
Exterior: Brick; Cement Block; Lap Siding
Roof: Comp Shingle
Road: Gravel; Paved; Private Maintained Road; Public Maintained Road
Water: Community System
Sewer: Septic System
Terms Considered: 1031 Exchange; Cash; Conventional
Showing Instructions: Call List Agent
Septic 
Listing Office: Tomlinson Sotheby's International Realty (Idaho)
Last Updated: December - 07 - 2023
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