Saturday, March 29, 2014

On the market again: Boise’s 87-year-old former Macy’s building

Partners worried they wouldn’t be able to find enough people who wanted to live Downtown and could afford apartments.
BY SVEN BERG, Idaho Statesman

sberg@idahostatesman.com February 27, 2014

Affordable housing was the center of the idea by Brad Elg, Jeff Shneider and David Wali for developing the C.C. Anderson Building, which they bought in late 2011.

They wanted to fill the building’s top three floors with 64 apartments that working people could afford. But making the dollars and cents work for the affordable housing would have meant taking federal tax credits to help pay the development cost and pass them on to residents.

With those tax credits come restrictions. For example, the people living in the subsidized apartments can’t be students. They also can’t make above a certain percentage of the area’s average income.

The partners worried that they wouldn’t be able to find enough people who wanted to live Downtown and could afford the apartments — between $540 and $1,040 per month — and who also qualified for subsidized housing, Wali said.

They discussed turning the first floor into a theater for the Idaho Shakespeare Festival. That didn’t work. One of the problems was that the festival would have to raise millions of dollars before work started on renovating the building.

So the partners have decided to sell.

“There’s no use in letting it remain vacant if there’s someone else who might be a better fit for it,” Wali said.

NEW LIFE FOR AN OLD BOISE BUILDING?
The C.C. Anderson Building, located on the northeast corner of 10th and Idaho, went on the market Wednesday. The sellers are asking $2.1 million.

Boise businessman C.C. Anderson built it in 1927 as a home for his department store. It remained a department store until 2010, when Macy’s closed its Downtown Boise location.

Wali said that he and his partners paid only $1 million for the building in 2011 but that they won’t be making any money. He said they put hundreds of thousands of dollars into asbestos removal, planning and structural engineering. He figures they’ll just about break even on the sale.

Wali still thinks housing should be a component of the C.C. Anderson Building’s new life. Offices and retail stores could fill in the rest, he said.

Greg MacMillan, who works for commercial real estate broker Colliers International, is the building’s listing agent. He said the amount of space — more than 115,000 square feet on four floors — makes it attractive for all kinds of development, whether it’s a hotel, housing, offices, restaurants or something else.

“The building is not without its challenges, but the right person — the right buyer — could do something great,” MacMillan said.

Sven Berg: 377-6275

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.
PS: We've Helped More Buyers and Sellers than 99.8% of any Local Realtor
Click Here to Search 24/7 for The Best Real Estate Deals in Boise!
Click Here to Download Our Free "Selling Your Home" Pre-Listing Plan! 
Click Here to Pre-Qualify for a Loan Online!

IERT logo
Regards, Michael Hon, REALTOR®
CEO, The Iron Eagle Realty Team
Associate Broker, Silvercreek Realty Group
Certified Short Sale Specialist®
Investment Property Consultant
Direct: 208.919.0458 Office: 208.939.9033 Fax: 208.514.1422
www.IronEagleRE.com Michael.Hon@IronEagleRE.com

Monday, March 10, 2014

What is the Cap Rate and NOI on Rental Properties and are they Important?

Found this great blog on Linked by Mark Ferguson posted on March 4, 2014. If you are looking for a Boise investment property such as a fourplex, duplex or commercial investments, please visit us at www.ironeaglere.com.

If you have been around Boise investment properties you have probably heard the term cap rate and NOI.  The cap rate on an investment property is a measure of what the returns will be assuming you pay cash for a property.  I don’t use cap rate on my investment properties, because it doesn’t factor financing costs.  I prefer to use the cash on cash return on my properties, but the cap rate can still give you a basic idea of a property’s returns.

NOI is the net operating income on a rental property and does not factor in debt service.  The NOI can be another indicator of rental property returns, but can also be easily manipulated.

How do you figure the cap rate on a property?

The cap rate is a very simple formula; net operating  income divided by the price of a property.  For example if you buy a home for $100,000 and the net income is $10,000 a year, the cap rate is 10%.  ($10,000/$100,000=10%)

What is the net operating income? (NOI)

The net operating income is how much money a rental property produces after expenses.  This is another simple calculation and can be figured using our cash flow calculator.  The NOI does not include debt service, which our calculator includes, but you can enter the mortgage payments as zero to determine the NOI.  For example if the rents are $10,000 a year on a rental property and the yearly expenses are $3,000, then the NOI is $7,000.

What expenses are included in the NOI?

You will find different investors include different expenses to determine the NOI.  Some investors may include vacancies and property management and others may not.  Some investors may not even include any maintenance in their NOI projections to make their properties appear more profitable.  If you are basing a purchase decision on the cap rate then you need to make sure all the expenses are accounted for.  If the total rent for a property is $10,000 a year and the NOI is $10,000, then there are obviously expenses being left out of the equation.

How can the cap rate vary greatly on the same property?

The NOI greatly affects the cap rate.  If the NOI does not include all expenses on a property, then the cap rate is going to be artificially inflated.  I don’t like using the cap rate as an indicator of returns, because it does not factor into account debt service and the cap rate can be easily manipulated.

Why Cash flow is more important than the NOI

I think the  cash flow on a rental property is much more important than the cap rate.  The cash flow tells you exactly how much money you are going to make including expenses and debt service.  Our cash flow calculator even helps you determine what the maintenance and vacancies may be on a property per month.

Why the cash on cash return is better than the cap rate

The cash on cash return tells you what returns you are getting on your cash invested into a property.  The cash on cash return takes into account the amount of money invested based on leverage.  The cap rate completely ignores leverage, which will make a huge difference in the actual returns an investor sees.  Our cash on cash calculator can help you calculate the actual returns on a rental property including the debt service.

What can the cap rate tell you about different markets?

The cap rate gives a very basic idea of the return rate on rental properties.  If you are looking to invest in long-distance properties, the cap rate can give you an idea of the returns in that area.  Average cap rates in the country can range from 5% to 15%.  There are many other factors to consider when determine where to buy, but cap rate can give you an idea on returns.

How can cap rates help you decide on single family versus multifamily

The cap rates can also give you an idea of the different returns on single family homes versus multifamily homes in an area.  In Colorado the cap rate for a multifamily property tends to be around 5%.  For a single family home you can see cap rates at around 8% in my area.  I buy my properties below market value and see cap rates at 10% or higher on the purchase of my single family rentals.  In other markets those percentages may be reversed on single family and multifamily homes.

Conclusion

The cap rate and NOI can be used to help determine the returns on rental properties, but there are also many other factors to consider like the cash flow and cash on cash returns.  I personally do not pay attention to cap rate or NOI, because it does not giving me a clear picture of my returns.

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.
PS: We've Helped More Buyers and Sellers than 99.8% of any Local Realtor
Click Here to Search 24/7 for The Best Real Estate Deals in Boise!
Click Here to Download Our Free "Selling Your Home" Pre-Listing Plan! 
Click Here to Pre-Qualify for a Loan Online!

IERT logo
Regards, Michael Hon, REALTOR®
CEO, The Iron Eagle Realty Team
Associate Broker, Silvercreek Realty Group
Certified Short Sale Specialist®
Investment Property Consultant
Direct: 208.919.0458 Office: 208.939.9033 Fax: 208.514.1422
www.IronEagleRE.com Michael.Hon@IronEagleRE.com

Friday, February 14, 2014

Millionaires See Real Estate as Top Investment for 2014

Found this great article on Bloomberg Personal Finance

Millionaires See Real Estate as Top Investment for 2014
By Margaret Collins and David M. Levitt  Feb 6, 2014 2:45 PM MT

U.S. millionaires see real estate as the top alternative-asset class to own this year, according to Morgan Stanley. (MS)

About 77 percent of investors with at least $1 million in assets own real estate, according to a survey released today by the New York-based investment bank’s wealth-management unit. Direct ownership of residential and commercial properties was the No. 1 alternative-investment pick for 2014, with a third of millionaires surveyed saying they plan to buy this year. Twenty-three percent said they expect to invest in real estate investment trusts, the second-most popular choice.

Wealthy investors are turning to a rebounding real estate market as fixed-income yields remain historically low and equities surge. U.S. commercial-property values rose 8 percent in the 12 months ended Jan. 31, and have jumped 71 percent since hitting their post-recession bottom in 2009, research firm Green Street Advisors Inc. reported today. The S&P/Case-Shiller index of home prices in 20 cities is up 24 percent from its 2012 low.

“After a year where the Standard & Poor’s Index rose 30 percent, some millionaires are moving money out of traditional, long-only strategies to find outperformance, and turning toward alternatives such as real estate and private equity,” said Gary Kaminsky, a vice chairman at Morgan Stanley Wealth Management in New York. “Sophisticated, high-net-worth investors are much more concerned about losses.”

The One57 residential building stands while under construction in New York.
Collectibles ranked as the third-most-popular alternative-investment choice this year, with 20 percent of millionaires saying they planned to buy, followed by private equity at 19 percent and precious metals at 16 percent.

Interest Rates

Wealthy investors see stocks getting expensive and interest rates staying stable or even declining over the next couple of years, Kaminsky said in an interview at a conference for Tiger 21 investors last week in Scottsdale, Arizona. That’s why they are looking more closely at alternatives including real estate for returns and income, he said.

Tiger 21 members, who have at least $10 million in investable assets, increased their average allocation to real estate last year to 21 percent as of the fourth quarter from 19 percent in the first three months of 2013, according to a separate study released by the New York-based group last month.

Will Ade, a Tiger 21 member, said real estate is a particularly attractive investment as stocks show vulnerability in 2014. The S&P 500 has fallen more than 4 percent this year, while developing-country stocks have tumbled on concern that the outlook for economies is worsening.

‘Lame’ Bull

“We had a great bull run last year,” Ade, a 60-year-old geologist, said in an interview today. “I don’t know if the bull is dead, but it certainly is lame right now.”

This year may be the tail-end of attractive investments in property before interest rates rise, said Ade, who has made his money finding oil companies and private investors to fund the drilling of wells. He said he is trying to purchase residential real estate in Miami right now.

“The really good real estate deals are getting harder and harder to find,” Ade said. “Once interest rates start to go up, whether it’s farmland or single-family dwellings there’s going to be huge downward pressure on real estate.”

Foreign Buyers

The Manhattan high-rise condominium buildings One57 and 432 Park Ave., where units have gone under contract for more than $90 million, are evidence of the faith that the very wealthy have in real estate, said Mitchell Roschelle, real estate advisory leader at PricewaterhouseCoopers LLP. Such properties have also attracted international buyers.

Wealthy foreigners have bought high-end U.S. properties for their safety and because they’re denominated in dollars, the world’s reserve currency, he said. This helps domestic millionaires maintain the value of their property investments.

“It creates competition, which drives the price up for everybody,” he said. “The sellers have multiple channels to sell into. That gives you more liquidity.”

Self-storage properties are among commercial real estate investments wealthy individuals are buying, Kaminsky of Morgan Stanley said. Retail shopping centers are seen as less attractive as more consumers shop online through companies such as Amazon.com Inc., he said.

Chilean Fund

Morgan Stanley Wealth Management surveyed 1,004 U.S. investors ages 25 to 75, with least $100,000 in assets, during the fourth quarter of last year. A third of them had more than $1 million.

BigSur Partners, a Miami-based wealth-management firm, has been helping some of its wealthy clients, who usually have at least $50 million, work with institutional investors such as a Chilean pension fund to invest in commercial real estate, said Chief Executive Officer Ignacio Pakciarz. Deals include an office building in Princeton, New Jersey, he said.

“We don’t feel there’s a lot of value in emerging-market bonds, high-yield bonds and highly rated fixed income,” Pakciarz said.

Owning the real estate is attractive because of the expected appreciation of property value and stream of rental income, as well as better control and supervision over the investments, he said. The firm has also bought office properties in Pittsburgh and Boston, multifamily residences in Texas and some industrial buildings for clients, and is looking for more opportunities this year in real estate purchases or lending, he said.

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.
PS: We've Helped More Buyers and Sellers than 99.8% of any Local Realtor
Click Here to Search 24/7 for The Best Real Estate Deals in Boise!
Click Here to Download Our Free "Selling Your Home" Pre-Listing Plan! 
Click Here to Pre-Qualify for a Loan Online!

IERT logo
Regards, Michael Hon, REALTOR®
CEO, The Iron Eagle Realty Team
Associate Broker, Silvercreek Realty Group
Certified Short Sale Specialist®
Investment Property Consultant
Direct: 208.919.0458 Office: 208.939.9033 Fax: 208.514.1422
www.IronEagleRE.com Michael.Hon@IronEagleRE.com

Monday, February 03, 2014

5 Ways to Pick the Perfect Time to Sell

I found this article on Trulia by Tara-Nicholle Nelson on January 29th, 2014 about when you should think about putting your Boise, Eagle, Meridian or Star home on the real estate market.

Smart sellers spend a whole lot of time and energy strategizing about how to sell their homes for top dollar. They factor in buyer demand, the competition, the job market, the mortgage market and their agent’s track record. And that doesn’t even account for all the time spent understand recent home sales in the area as an indicator of how local buyers will react to this listing.

Many a smart seller will also try to time their listing just right, too. And most often this looks like waiting until they feel buyers are sufficiently ready, willing, and able to pay a good price for the property. One timing consideration that sometimes gets short shrift is this: the calendar.

There’s a season for everything, as you might have heard. And recent Trulia data revealed some powerful geographically-specific seasonal trends in search activity for homes, adding proof to what agents have long known – the calendar portends various shifts in buyer activity, which sellers need to note. If you’re gearing up to list your home for sale, you should definitely take advantage of this interactive tool we’ve created to help you understand how these shifts play out in your area, and connect with your agent to discuss whether and how you might want to factor that into your home sale action plan.

But there are also a number of calendar-based factors you should just be thoughtful about as you put your plan for selling together. Here are a handful of calendars that should be – and stay – on every home seller’s radar screen:

1. The Academic Calendar. Families with school-aged children often find it less disruptive to house hunt in the late Spring/early Summer with the aim of moving in before school starts. Of course, we all know what they say about the best laid plans, so by no means should you let this stop you from listing your home at another time of year. Just know that demand for homes with convenient proximity to strong schools can uptick during the summer school break and around other times of year when kids are not in school.

2. The Tax Calendar. I cannot count the number of relatively unmotivated, looky-loo type buyers I’ve worked with over the years who got sudden, intense motivation from a massive, looming tax bill. For instance, many new professionals will seek to close escrow on homes between the time they graduate and the end of that same year, in an effort to deduct their closing costs and mortgage interest from their newly large incomes and avoid a big tax bill the following April. Similarly, just after tax time in April, a flood of newly motivated buyers come into the market, advised by their CPAs that the mortgage interest deduction is their best bet for not having to write as big a check to the IRS next year.

Fortunately for sellers, more buyers and more motivation means more demand and – all other things being equal – can translate into a faster sale at a higher price than at other times of the year.

3. The Weather Calendar. Many sellers who live in cold-weather climates are aware that wintry weather conditions can dramatically cut down on the numbers of buyers who are out viewing properties. This is why buyer searches for homes on Trulia peak earliest, in January, in warm-weather states like Hawaii and Florida – and not until after the Spring thaws in the Midwest, the South, the northeast and most of the West.

But what’s not as obvious is that the combination of what’s happening on the weather calendar and the specific features of your home can interact to impact your home’s prospects for sale – and its ultimate sale price. Behavioral economics researchers have found that homes with swimming pools sell for more in the summertime than they do in the winter. “When it is sweltering outside, a swimming pool just looks attractive. There’s an emotional connection because it reminds us of fun times we have in the summer,” said Jaren Pope, one of the study’s authors and an assistant professor of economics at Brigham Young University.

So, if you’re selling a home with ski slope access in the summer, you might want to paint the picture of a cozy, fun-filled winter by staging the place with ski gear and other items that help prospective buyers visualize how much fun they’ll have when winter comes. And vice versa -if you’re selling a pool house in the winter, consider making sure it is steamy and heated, if it has those features. Stage it with lounges, towels, lights – anything that showcases the pool to offset cold-weather buyer’s psychological tendency to discount the appeal of a pool in the winter.

4. The Holiday Calendar. During the holidays, many buyers simply prefer to spend their downtime celebrating with family and friends vs. house hunting, especially in locales where the winters are wet or cold. Our listing search data backs this up: nationwide, December is the slowest month of the year for home searches, and November is the second-slowest.

Does this mean the holidays are a bad time to have your house on the market? Not necessarily: some homes just show beautifully when all lit up and tastefully dressed up for the holidays. And the truth is that there is a hardy contingent of buyers motivated to close by year’s end for tax purposes, every year in every market. While buyers might be fewer in number, those who will brave rain, sleet and snow and forego holiday parties to house hunt can be some of the most motivated buyers of all.

5. The Gregorian Calendar (the regular old January through December calendar, that is). A survey just released by Fidelity Investments revealed that 54% of Americans said they typically consider setting New Year’s Resolutions related to their personal finances. This year, 26 percent of respondents said they are in a better financial situation today than last year (only 19 percent said so in 2012) and 28 percent say they are less in debt (vs. 25 percent in 2012).

Home buying tends to be a popular resolution among those with money on their minds at this time of year – and also among people looking forward to career promotions, developing their love and family relationships or relocating to a new home town. Make sure your home is well-represented on sites like Trulia at the beginning of the year (i.e., now!), when these life and financial change visionaries start searching the web for their next nest.

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.
PS: We've Helped More Buyers and Sellers than 99.8% of any Local Realtor
Click Here to Search 24/7 for The Best Real Estate Deals in Boise!
Click Here to Download Our Free "Selling Your Home" Pre-Listing Plan! 
Click Here to Pre-Qualify for a Loan Online!

IERT logo
Regards, Michael Hon, REALTOR®
CEO, The Iron Eagle Realty Team
Associate Broker, Silvercreek Realty Group
Certified Short Sale Specialist®
Investment Property Consultant
Direct: 208.919.0458 Office: 208.939.9033 Fax: 208.514.1422
www.IronEagleRE.com Michael.Hon@IronEagleRE.com

Tuesday, January 14, 2014

3 things to know about interest rates in 2014

Found a great article on Interest Rates for 2014 on housingwire.com. This definitely pertains to investment properties in Boise ID

3 things to know about interest rates in 2014
Whether they rise or not, things are going to change

By Trey Garrison January 10, 2014 5:07PM

Interest rates will go up. Or they will stay the same. One of those two things will definitely happen in 2014, economists say, and some lenders and investors may have trouble adjusting to the change.

"We think rates are generally headed up. We have a growing economy both here and aboard,” said Mike Fratantoni, chief economist for the Mortgage Bankers Association (MBA). "We’re going to get some differing data like today’s jobs report which was off, but the next jobs report may see employment up. We are anticipating the job market is going to grow in 2014 and the recovery will continue."

Further, he said, a longer-term factor will be that a growing federal deficit will put upward pressure on rates. And third, the Federal Reserve has already made it clear that if U-3 unemployment goes below 6.5%, it will let rates rise.

"We expect that in the third quarter the Fed will stop buying MBS and Treasurys, and start raising interest rates," Frantantoni said.

MBA is projecting interest rates on the 10-year Treasury yield to go from 3% in the first quarter of 2014 to 3.3% by fourth quarter of 2014, averaging 3.2% for the year, and then creeping up to 3.5% by the last two quarters 2015, averaging 3.4% for 2015.

MBA projects that 30-year fixed mortgage rates will go from 4.7% in the first quarter 2014 to 5.1% by the end of the year, and continuing a slow rise to 5.3% by the end of 2015.

Conversely, economists at international macro-economic research firm Capital Economics say they don’t expect interest rates to rise and that the Fed will keep a tight, tight leash on rates through 2014.

"The world economy has entered 2014 with a lot more momentum than it had a year ago. Business and consumer confidence have improved and unemployment is falling rapidly in several countries. However, while this should eventually prompt central bankers to raise interest rates, we do not expect significant hikes this year," the firm states in its Global Central Bank Watch report. "Instead, the Fed and Bank of England are likely to leave rates unchanged even after unemployment falls below their current thresholds, while both the ECB and the Bank of Japan look set to announce additional policy stimulus."

"The acceleration in growth over the past twelve months or so has been particularly strong in advanced economies In principle, this should pave the way for policy- makers to raise official rates from their current exceptionally low levels, particularly given that some central banks – notably the Fed and Bank of England – have explicitly linked future hikes to progress in reducing unemployment," the Capital Economics report states. "In practice, though, the four major central banks in advanced economies are likely to continue to tread very carefully in withdrawing stimulus, let alone actually tightening policy."

One big concern outside the housing and mortgage universe is that if interest rates rise too high, it could essentially bankrupt the U.S. treasury. The Fed is now printing 29 cents for every dollar the U.S. government spends, and servicing the national $17.3 trillion debt is costly even with low interest rates.

A study last fall by the bipartisan Committee for a Responsible Federal Budget said total interest payments on the federal debt in 2013 were approximately $255 billion. That’s based on the Treasury paying 0.01% on three-month bills and 2.98% on 10-year notes, as opposed to the historical average of 3.3% and 5.2 % respectively.

Frantantoni said typically the Fed has made it clear to the Treasury that it will focus on price stability rather than financing the debt, although he acknowledges there is a concern that interest payments on outstanding federal debt could be an issue. Economic growth concurrent with rising interest rates would serve to ameliorate these concerns through increased tax revenues and stronger job growth.

"We’ve had a couple of unusual years, and a lot of folks in the Fed would like to get back to the role of just minding monetary policy,” he said.

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.
PS: We've Helped More Buyers and Sellers than 99.8% of any Local Realtor
Click Here to Search 24/7 for The Best Real Estate Deals in Boise!
Click Here to Download Our Free "Selling Your Home" Pre-Listing Plan! 
Click Here to Pre-Qualify for a Loan Online!

IERT logo
Regards, Michael Hon, REALTOR®
CEO, The Iron Eagle Realty Team
Associate Broker, Silvercreek Realty Group
Certified Short Sale Specialist®
Investment Property Consultant
Direct: 208.919.0458 Office: 208.939.9033 Fax: 208.514.1422
www.IronEagleRE.com Michael.Hon@IronEagleRE.com

Friday, September 20, 2013

Boise Idaho Fourplex Market Update - Prices, Interest Rates, Cap Rates, Etc.

Boise Idaho Fourplex Market Update

Since Jan. of 2013, interest rates for buying fourplexes have increased about 1% from the low 4's to the low 5's. So the spread between interest and cap rate are now becoming too narrow for an acceptable cash flow. So, either rates need to come down (don't know if that will happen) or cap rates need to go up, which means prices need to come down. However, to maintain current pricing, rents to need to go up as well which is happening but not fast enough to compensate for interest rate increase.

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.
PS: We've Helped More Buyers and Sellers than 99.8% of any Local Realtor
Click Here to Search 24/7 for The Best Real Estate Deals in Boise!
Click Here to Download Our Free "Selling Your Home" Pre-Listing Plan! 
Click Here to Pre-Qualify for a Loan Online!

IERT logo
Regards, Michael Hon, REALTOR®
CEO, The Iron Eagle Realty Team
Associate Broker, Silvercreek Realty Group
Certified Short Sale Specialist®
Investment Property Consultant
Direct: 208.919.0458 Office: 208.939.9033 Fax: 208.514.1422
www.IronEagleRE.com Michael.Hon@IronEagleRE.com

Tuesday, August 06, 2013

Just Listed - Fully Leased Fourplex in Boise, Like New 6%+ cap rate

Asking $379,000; priced at a 6% plus cap rate. 

We just listed this Boise Idaho Investment Property; Fully leased, like new fourplex in Central Boise. Built in 2005, close to St. Alphonsus Regional Medical Center, Boise Towne Square Mall and freeway access. Consistently rented in a well maintained fourplex development. Buyer's choice of property management. This will not last! BTVAI


The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.
PS: We've Helped More Buyers and Sellers than 99.8% of any Local Realtor
Click Here to Search 24/7 for The Best Real Estate Deals in Boise!
Click Here to Download Our Free "Selling Your Home" Pre-Listing Plan! 
Click Here to Pre-Qualify for a Loan Online!

IERT logo
Regards, Michael Hon, REALTOR®
CEO, The Iron Eagle Realty Team
Associate Broker, Silvercreek Realty Group
Certified Short Sale Specialist®
Investment Property Consultant
Direct: 208.919.0458 Office: 208.939.9033 Fax: 208.514.1422
www.IronEagleRE.com Michael.Hon@IronEagleRE.com

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