The Kellogg Korral
Multifamily | 7.01% CAP | 5 Units
Marketing description
Incredible investment property available in Kellogg, Idaho. Just up the road from uptown Kellogg. One mile from the Gondola Base at Silver Mountain Resort, and 30 Minutes to the parking lot at Lookout Pass Ski Area. 5 updated units in 2 buildings. The larger building (tri-plex) has a three bed two bath with washer and dryer, 1 very large studio, and a two bed one bath with washer and dryer. The smaller building (Duplex) has a large studio with a deck, a large backyard, and a jetted tub. There's also a 1 bed 1 bath unit. Renting the units has never been a problem. Three of the units have new Regency, gas fireplaces, and there's a parking spot for each unit. There's also a lot of extra parking in the public parking lot across the alley. Two units have been used as AirBnB's in the past and both did very well. All documentation is available for interested buyers after showings. The larger building has a hot tub room and a very large shop upstairs that might be able to be turned into a 6th unit (buyer to verify with the City of Kellogg). Great investment opportunity. Pre-qualified buyers only for showings. New Roof on Both Buildings in June of 2021.
Investment highlights
408A = Parcel RP D0100022008A A @ $725,000 and 410A = Parcel RP D0100022006A A @ $400,000. Must write 2 PSA's, and Must Close & Fund on the same day. Conditional use permit from City of Kellogg required. Current annual gross income is $79,200 (Cap Rate of 6.49%). Listing agent must be present for all showings. Buyer & Buyer agent to verify all. Lot size & taxes reflect totals for both parcels.
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