Boise, ID 83705 2251 Pond Street
$3,125,000
Pending
22 more
Presented By: KW Commercial
SQFT • 14,592
Home Details
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.
Presented By: KW Commercial
Interior Features for 2251 Pond Street
Other Interior Features
Above Grade Finished Area Unit TypeSquare Feet
Air Conditioning Y/NYes
Below Grade Finished Area Unit TypeSquare Feet
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesWasher/Dryer Hookups (All Units)
Living Area UnitsSquare Feet
General for 2251 Pond Street
AccessibilityHandicap Parking
AppliancesDisposal (Some Units), Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (All Units)
Attached Garage No
Building Area UnitsSquare Feet
Buyer Agent Compensation2
Buyer Agent Compensation Type%
Cap Rate5.8
Carport Y/NNo
CityBoise
Construction MaterialsFrame, Other, Stucco
CoolingCentral Air, All Units
CountyAda
Current Use5+ Units
DirectionsI-84 to Orchard. N on Orchard, E on Targee to Pond, S on Pond to address.
Elementary SchoolHillcrest
Elementary School DistrictBoise School District #1
Garage Y/NNo
Gross Income265477
HOA
HOA / Comm AssnNo
HeatingForced Air
High SchoolBorah
High School DistrictBoise School District #1
Home Warranty Y/NNo
Land Lease Y/NNo
Listing TermsCash, Conventional, 1031 Exchange
Lot Size Square Feet46173.6
MLS AreaBoise Bench - 0400
Middle/Junior High SchoolSouth Boise Jr
Middle/Junior School DistrictBoise School District #1
Net Operating Income180716
New ConstructionNo
Operating Expense84761
Percent OwnershipFee Simple
Property Attached Y/NNo
Property SubTypeApartment
Property TypeResidential Income
RoofOther
Senior Community Y/NNo
StatusPending
Street NamePond Street
Subdivision Name0 Not Applic.
Tax Annual Amount29495
Tax Year2023
Total Units16
UtilitiesSewer Connected
Waterfront Y/NNo
Year Built1974
Zoning DescriptionR-2
Exterior for 2251 Pond Street
Building Area Total14592
FencingPartial, Wood
Lot Features1 - 4.99 Acres, Sidewalks
Lot Size Acres1.06
Lot Size Area1.06
Lot Size UnitsAcres
Open Parking Y/NNo
SpaNo
Total Parking34
Water SourceCity Service
Additional Details
Price History
Schools
Middle School
South Boise Jr Middle School
High School
Borah High School
Elementary School
Hillcrest Elementary School
Doris Howell
Licensed Real Estate Agent