
Unlock the Power of Home Equity with a HECM
If you’re over 62 years old and own your home, you have an opportunity to unlock the power of home equity.
4.86 Acres | $925,000
Great location for Multifamily Development in this up & coming rural community. Located at the first stop light entering town, only 30 minute commute to Boise, and quick access to area conveniences. 65% of residents commute to Boise and pass this intersection in & out of town.
The site would accommodate a minimum of 88 units and 2 or 3 story apartments with a mix of 1, 2 and 3 bedroom units. The current home is in moderate condition and has a renter in place at $1650 a month through March 2022. There is a buy out option after Sept 2021.
Although development is ideal for Multifamily due to the road access and septic/well requirements, retail pads can be placed along Hwy 16 frontage with the remaining property used for garden style/walk up, townhome or 4-plex apartment community, or the entire project could be only commercial and retail. Ingress/Egress is only permitted off Substation Road at the northernmost property line.
Entitlement process includes: Special Use Permit, site development plan, surveys, neighborhood meeting, and sewer & well expansion/replacement. City utilities are .2 miles away & the Developer can bring them and annex into the city.
No plans have been drafted, no builder selected and the Proforma is based on similar projects. Developer and/or Property Management references available upon request.
If you’re over 62 years old and own your home, you have an opportunity to unlock the power of home equity.
34th & Chinden – Garden City, Idaho 3420 W Chinden Blvd, Garden City, ID 83714
Substation Road – Emmett, Idaho 1991 S Substation Rd, Emmett, ID 83617 4.86 Acres |
Central Road – Emmett, Idaho 3505 W Central Rd, Emmett, ID 83617 40 Acres |
The Real Estate Agents of Idaho Property Investing, LLC are part of the Atova, Inc. Real Estate Brokerage located in Boise Idaho.
© 2023 Idaho Property Investing • All Rights Reserved