Charming Older Duplex Near Downtown Boise - 6.4% Market Cap Rate

[StacyA McBain]

Shopping for a duplex in Boise? Love the downtown areas and their appreciation potential and ease of renting, but hate the returns there?  Look no further! This duplex is about to come back on the market!

Contact my colleague and co-listing agent Doug Bolen for details 208-860-9169. [email protected] (Swope Investment Properties)

Notes- rents are market rents quoted from a local property manager (First Rate Property Management). Leases end 12/31/17 and 2/28/18 but actual current rents are lower and below market - $775 and $720. 

This turnkey 1941 duplex boasts high returns and appreciation potential in a highly desirable location near the Whitewater Park and downtown - the easiest and fastest to rent part of town. This area continues to get better and better! Low maintenance, expenses and vacancy. It has style, North End charm (age), and brand new HVAC! Contact Doug for Proforma and upgrades list including: granite counter tops, wood floors & tile back splashes in the bright lower unit. Upper unit includes arched doorways & solar tube. Shared W/D. 2004 roof. Xeriscape. Not perfect, but has Great return for this area! Ideal tenants. Fully occupied - do not disturb tenants. Walking tour videos are available upon request. 

Legally zoned and establishing formal Grandfather Rights. Interior videos also available.Please share virtual tour link & D tab docs for property performance and upgrades with your north end Buyers. Owner has transformed this property. Market returns are well above average, this close to downtown (and leases end soon). Corner lot with off-street parking on quieter side street (Davis). Fully occupied. Please include pre-approval with offer or request to join a showing appointment.

Thanks for looking! 

Expenses: 

Water $270/year (2016 actual)

Sewer/Trash $512/year (2016 actual)

Exterior maintenance $600/year (2016 actual)

Cleaning, repairs, maintenance $400 (estimate)

Taxes $2,101 (2016 actual)

Management 7%

Insurance $600 (Estimate. 2016 actual was $372.)

StacyA McBain - Swope Investment Properties

Contact my colleague and co-listing agent Doug Bolen for details 208-860-9169 [email protected] (Swope Investment Properties)