| THE OFFERING |
|
|
| Property |
Teton Apartments |
|
| Property Address |
2775 Saint Clair Road |
|
| |
Idaho Falls,ID 83404 |
|
| Assessor's Parcel Number |
RPA2730001001O |
|
| Zoning |
R-3 |
|
| SITE DESCRIPTION |
|
|
| Number of Units |
157 |
|
| Number of Buildings |
14 |
|
| Number of Stories |
2 |
|
| Year Built |
2000 |
|
| Rentable Square Feet |
131,989 |
|
| Lot Size |
10.06 Acres |
|
| Type of Ownership |
Fee Simple |
|
| Density |
15.6 Units/Acre |
|
| Parking |
157 Covered, 196 Uncovered |
| Parking Ratio |
2.25 Spaces/Unit |
|
| Landscaping |
Trees,Shrubs,Bushes |
|
| Topography |
Gradual Sloping |
|
| UTILITIES |
|
|
| Water |
City of Idaho Falls |
|
| Phone |
Qwest Communications |
| Electric |
City of Idaho Falls |
|
| Gas |
Intermountain Gas Company |
| CONSTRUCTION |
|
|
| Foundation |
Concrete Slab |
|
| Framing |
Wood |
|
| Exterior |
Vinyl |
|
| ParkingSurface |
Asphalt |
|
| Roof |
Composition Shingle |
|
| MECHANICAL |
|
|
| HVAC |
Forced Air Gas Furnaces |
| FireProtection |
Smoke Detectors |
|
| |
|
|
| Teton Apartments is a 157-unit apartment complex located in Idaho |
| Falls, ID. The property presents a strong opportunity to acquire a |
| performing asset in one of Idaho's fastest growing and strongest |
| economies. Based on YE 2008 and YE 2009 financials, the property's |
| net operating income (NOI) has increased by 13.8%. Historically, the |
| Idaho Falls economy has boasted the nation's lowest unemployment |
| rate and to date remains well below the national average. Due to the |
| city's strong economic fundamentals, there has traditionally been a |
| high barrier to entry for investors who have looked to acquire well maintained |
| assets in this market. In all, minimal deferred maintenance, |
| strong operations, and consistent market fundamentals make Teton an |
| appealing long-term investment. |
| |
| Teton is comprised of 44 one bedroom, 80 two bedroom, and 33 three |
| bedroom units. Residents benefit from a multitude of amenities |
| including a club house, fitness center, laundry facility, playground, and |
| basketball court. Apartment features include private balconies/patios, |
| air conditioning, washer and dryer hookups in select units, |
| dishwashers, tile floors, and extra storage. Garages are available at an |
| additional cost per month. Furthermore, residents are provided free |
| DVD rentals from the club house. |
| |
| Idaho Falls is only 2 hours from beautiful Sun Valley, ID. Conveniently |
| located, Teton is in close proximity to area employers, shopping, and |
| dining. The Eastern Idaho Regional Medical Center is less than 5 |
| minutes away to the east and the Grand Teton Mall is less than 10 |
| minutes away to the northeast. Also, there is easy access to Interstate |
| 15 which is less than 5 miles away to the west. |
