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© 2024 Berkadia Proprietary Holding LLC
Berkadia® is a trademark of Berkadia Proprietary Holding LLC
Investment sales / real estate brokerage business is conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. This website is not intended to solicit commercial mortgage loan brokerage business in Nevada. In California, Berkadia Real Estate Advisors Inc. conducts business under CA Real Estate Broker Lic. #01931050, Berkadia Commercial Mortgage LLC under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116. For state licensing details for the above entities, visit: www.berkadia.com/legal/licensing
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INVESTMENT SALES
Berkadia Boise Investment Sales is pleased to present Ridgeline Apartments, a 51-unit value-add community located in Pocatello, Idaho. Built in 1978- 1982, Ridgeline consists of four buildings containing 1x1, 2x1, and 3x1 units with an average unit size of 783 square feet. Substantial value-add upside remains to finish renovations and increase rents. Beyond the existing building, the parcel is zoned for over 100 units, allowing a future development opportunity.
Furthermore, Ridgeline has very attractive, below market assumable Fannie Mae loan, with a balance of $3,021,142 (on 1/1/2025), 4% fixed interest rate, 7-year term, due 11/1/2028.
Pocatello, Idaho, located in the southeast part of the state in the western foothills of the Rocky Mountains along the Oregon Trail, is the 5th largest city in Idaho with a population of approximately 58,000. Pocatello is also the county seat of Bannock County. The city is home to several corporate headquarters, including Farm Bureau Insurance and Varsity Contractors, and hosts multinational companies like LA Semiconductor, Petersen, Inc., Great Western Malting, Amy’s Kitchen, and ATCO Structures & Logistics. Idaho State University, with over 12,000 students enrolled in more than 200 programs, is also located in Pocatello.
Pocatello enjoys a desirable 4-season climate with clear, sunny, and dry weather being the norm. The city offers numerous attractions, including 32 parks, the Museum of Natural History, Fort Hall Replica, several golf courses, Ross Park Aquatic Complex, Nordic Center cross-country skiing, mountain biking and hiking trails, a skate park, and Zoo Idaho.
Address
City, State, Zip
County
Units
Built
Site Size/Acreage
Rentable SF
Average Unit SF
Average Rent/Unit
Average Rent/SF
Zoning
306 South Roosevelt Street
Boise, ID 83705
Ada
20
1980
0.437 Acres
10,000 SF
500 SF
$1,014
$2.03
MX-1
Opportunity
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ROBERT FALESE
Senior Managing Director 215.328.1321 robert.falese@berkadia.com
Email
Spencer Hansen
Director
spencer.hansen@berkadia.com
208.921.2560
Email
Clay Anderson
Senior Managing Director
clay.anderson@berkadia.com
208.440.2486
Email
800 West Main Street
Suite 1460, Office 1 & 7
Boise, ID 83713
berkadia.com
northwest.berkadiarea.com
Boise Office
ED SHIELDS
Real Estate Analyst 215.328.1398 ed.shields@berkadia.com
Email
© 2024 Berkadia Proprietary Holding LLC
Berkadia® is a trademark of Berkadia Proprietary Holding LLC
Investment sales / real estate brokerage business is conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. This website is not intended to solicit commercial mortgage loan brokerage business in Nevada. In California, Berkadia Real Estate Advisors Inc. conducts business under CA Real Estate Broker Lic. #01931050, Berkadia Commercial Mortgage LLC under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116. For state licensing details for the above entities, visit: www.berkadia.com/legal/licensing
Boise office
800 West Main Street, Suite 1460, Office 1 & 7
Boise, ID 83702
ACRE PROPERTY
3.67
Year BUilt
1978-1982
Units
51
CHRISKOTT TODD
Associate Director
208.906.9515
chriskott.todd@berkadia.com
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Robert Doxsee
Managing director
robert.doxsee@berkadia.com
425.777.0235
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Michael manolides
Senior director
michael.manolides@berkadia.com
253.670.2143
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MORTGAGE BANKING
Robert Doxsee
Managing director
robert.doxsee@berkadia.com
425.777.0235
Email
Michael manolides
Associate director
michael.manolides@berkadia.com
253.670.2143
Email
MORTGAGE BANKING
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© 2022 Berkadia Proprietary Holding LLC
Berkadia® is a trademark of Berkadia Proprietary Holding LLC
Investment sales / real estate brokerage business is conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. This website is not intended to solicit commercial mortgage loan brokerage business in Nevada. In California, Berkadia Real Estate Advisors Inc. conducts business under CA Real Estate Broker Lic. #01931050, Berkadia Commercial Mortgage LLC under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116. For state licensing details for the above entities, visit: www.berkadia.com/legal/licensing
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