506 Roosevelt Ave, Pocatello, ID 83201 | 506 Roosevelt Ave
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506 Roosevelt Ave, Pocatello, ID 83201 506 Roosevelt Ave
7 Unit Apartment Building $870,000 ($124,286/Unit) 6.11% Cap Rate Pocatello, ID 83201
Executive Summary
Goldman | Ryden Real Estate Investment Services is pleased to offer to qualified investors a unique value-add opportunity at 506 Roosevelt Ave, a commercial multifamily property consisting of 7 units in Pocatello, Idaho. This opportunity features a desirable unit mix of six, two bedroom and one bath units and one 3 bedroom, one bath unit. This property is currently rented below market rate offering substantial rent escalation upside.
-Value-Add Opportunity – Below Market Rents
-Less than 10 minutes from downtown Pocatello and Idaho State University
-Rent escalation upside as units are currently rented below market rate
-Desirable Unit Mix: 6 two-bedrooms and 1 three-bedroom
-Strong Rental Demand: The increasing student population and expanding job market in Pocatello drive a rising need for rental housing.
-Storage: 8 units, 7 – 8x8 and 1 – 8x12
-Well maintained, no deferred maintenance
-Roof replaced in 2014 with 30-year architectural shingles. The warranty is transferable once, providing coverage for the buyer.
-Siding replaced in 2014
-Bathroom floors have been replaced with ceramic tile.
-Competitive pricing at $124,000 per unit
-Value-Add Opportunity – Below Market Rents
-Less than 10 minutes from downtown Pocatello and Idaho State University
-Rent escalation upside as units are currently rented below market rate
-Desirable Unit Mix: 6 two-bedrooms and 1 three-bedroom
-Strong Rental Demand: The increasing student population and expanding job market in Pocatello drive a rising need for rental housing.
-Storage: 8 units, 7 – 8x8 and 1 – 8x12
-Well maintained, no deferred maintenance
-Roof replaced in 2014 with 30-year architectural shingles. The warranty is transferable once, providing coverage for the buyer.
-Siding replaced in 2014
-Bathroom floors have been replaced with ceramic tile.
-Competitive pricing at $124,000 per unit
Property Facts
| Price | $870,000 | Apartment Style | Low Rise |
| Price Per Unit | $124,286 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.45 AC |
| Cap Rate | 6.11% | Building Size | 6,520 SF |
| No. Units | 7 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built/Renovated | 1965/2014 |
| Price | $870,000 |
| Price Per Unit | $124,286 |
| Sale Type | Investment |
| Cap Rate | 6.11% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.45 AC |
| Building Size | 6,520 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1965/2014 |
Unit Amenities
- Storage Space
- Washer/Dryer Hookup
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Courtyard
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | 900 |
| 3+1 | 1 | - | 1,120 |
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Walk Score ®
Very Walkable (72)
PROPERTY TAXES
| Parcel Number | RPCPP067301 | Improvements Assessment | $353,479 |
| Land Assessment | $41,040 | Total Assessment | $394,519 |
PROPERTY TAXES
Parcel Number
RPCPP067301
Land Assessment
$41,040
Improvements Assessment
$353,479
Total Assessment
$394,519
zoning
| Zoning Code | CG |
| CG |
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506 Roosevelt Ave, Pocatello, ID 83201 | 506 Roosevelt Ave
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