2251 S POND ST Boise ID 83705-3832

The Pond Street Apartments have been lovingly updated over the past 5 years (all units). The updates also included new TPO roofs on each building, new asphalt parking lot, and some updated zero-scape in areas of the property as well as new fencing, and much more. Interior updates included paint, flooring, some HVAC updates, and remodeled kitchens and bathrooms. Many units are renting at $1,600+ per month and many that were leased near the beginning of the renovations are rented for less than $1,200 giving a buyer the opportunity to quickly raise rents on those that are under market as leases renew without requiring much additional investment from the buyer. Buyer may implement a RUBS charge to further increase income and recoup utility cost for water, sewer, and trash.

The Pond Street Apartments consists of four separate fourplex buildings on separate parcels. The aerial included shows approximate lot lines. All lot lines to be verified by Buyer. Seller does not have any historical or current surveys of the property. Buyer may be able to split the property into four properties and sell them individually in the future. Seller will not sell separately. The Buyer will likely have to secure city approvals and may need to create additional agreements between the parcels for cross access and cross parking in the event they desire to sell separately in the future. Seller makes no claims regarding the feasibility of selling the parcels separately. Buyer must verify all information

2 bed 1 bath (912+/- sf) townhome style units

16 units in four separate buildings

New roofs on all four buildings in 2018-2019

Asphalt parking lot was completely replaced in 2019

Updated exteriors and xeriscape for easy management

All units have been completely remodeled between 2018 and 2024

Newer HVAC in most units

Potential to increase curb appeal by installing metal on mansard roof

Many units are under market rent at $1200/mo. Market rent roughly $1,450.