Location: Rexburg, ID
For Sale Website:
Brigham Young University Idaho has increased their student enrollment and housing is in high demand. The Raspberry Garden Apartments are on sale for $1 million! These are quality apartments for community housing located East of Porter Park. This apartment complex includes 16 units (12,000 square feet).
Our group forecasted eight years to determine the apartment’s profitability (2012-2019). Our initial funding is $50,000. Raspberry Garden’s current rental rate is around $700 per month and we project these rates will increase 3% each year. Based on our computations of the capital cost, we have a weighted average cost of capital (WACC) of 3.30%. Our internal rate of return (IRR) is 3.67%. These apartments are financially attractive because the return is great.
These are quality apartments with the potential to be a great long-term investment property. Rexburg is a growing community and the expanding student population will guarantee these apartments units to be in demand.