8 unit apartment building next to BYU Idaho
8 Unit Apartment Building | $1,050,000 ($131,250/Unit) | Rexburg, ID 83440
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
Asking Price $1,050,000
- Property Type
-
Multifamily
- Square Feet
- 7,723 SF
Listing Contacts
Lew Goldman
Verified Profile
- Property Info
Property Overview
Goldman | Ryden Real Estate Investment Services is pleased to offer to qualified investors a unique value-add opportunity at 368 W 1st N, a commercial multifamily property consisting of 8 units in the heart of Rexburg, Idaho. This opportunity features a desirable unit mix of eight, three-bedroom and one-and-a-half bath units. This property is currently rented below market rate offering substantial rent escalation upside. This corridor of Eastern Idaho is one of the fastest growing areas in the United States over the last 4 years. The local economy in Rexburg is robust, with education, retail, healthcare, and agriculture serving as the primary economic drivers. BYU-Idaho in Rexburg has over 25,000 students, the subject property is located less than 1 mile away from campus. Rexburg boasts a young and vibrant population, with a median age of approximately 23 years. This youthful demographic and steady population growth of 14.7% over the last five years contributes to a high demand for rental housing, particularly multifamily units.
Property Details
- Class
- C
- Year Built/Renovated
- 1968/2024
- Stories
- 2
- Property Subtype
- Dormitory
- Lot Size (sq. ft)
- 22,651 SF
- Units
- 8
Highlights
- Value-Add Opportunity in the heart of Rexburg.
- Located less than 1 mile from BYU Idaho where enrollment is over 25,000 students.
- Desirable 3 Bed / 1.5 Bath units.
- Competitive Pricing at $131,250 per unit.
- The steady population growth of 14.7% over the last five years contributes to a high demand for rental housing, particularly multifamily units.
- The presence of a major university ensures a steady influx of students and faculty, creating continuous demand for rental housing.
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