566 N Riley Creek Rd, Priest River, ID 83856 (MLS# 23-5917)

566 N Riley Creek Rd, Priest River, ID 83856

$1,220,750

Virtual Tour

https://www.tourfactory.com/idxr3088336

Front house lower level access to downstairs rental unit 2

Property Type: MultiFamily Square Footage: 9,980 Lot Size (sq. ft.): 67,082 Status: Closed

Current Price: $1,220,750 List Date: 6/29/2023 Last Modified: 9/22/2024

Overview

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.

Listing Details MLS# 23-5917

Contract Information

Listing Type: Multi Family
Area: North (Bonner & Boundary)
Sold Date: 2023-12-06
Neighborhood Grid #: 440
Begin Date: 2023-06-28
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

More Information

Paid By Owner

Electricity: Yes
Trash Collection: Yes
Water: Yes

View

Mountain(s): Yes
Territorial: Yes

Paid By Tenant

Cable TV: Yes

Lot Features

Level: Yes
Open Lot: Yes

Terms Considered

1031 Exchange: Yes
Cash: Yes
Conventional: Yes

Road

Gravel: Yes
Paved: Yes
Private Maintained Road: Yes
Public Maintained Road: Yes

Showing Instructions

Call List Agent: Yes

Water

Community System: Yes

Sewer

Septic Tank: Yes

Fuel

Electric: Yes
Oil: Yes

Heating

Forced Air: Yes

Basement

Daylight: Yes
Finished: Yes
Walk-Out Access: Yes

Foundation

Slab: Yes

Construction

Block: Yes
Brick: Yes
Concrete: Yes
Manufactured: Yes

Exterior

Brick: Yes
Cement Block: Yes
Lap Siding: Yes

Roof

Comp Shingle: Yes

Property Features

Paid By Owner: Electricity; Trash Collection; Water Paid By Tenant: Cable TV View: Mountain(s); Territorial Lot Features: Level; Open Lot 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 Tank Terms Considered: 1031 Exchange; Cash; Conventional Showing Instructions: Call List Agent

Documents

Septic ›

LBP ›

Non-Disclosure Agreement ›

Listing Office: Tomlinson Sotheby's International Realty (Idaho)

Last Updated: September - 22 - 2024

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