71 Freeman Ln, Hope, ID 83836
$2,500,000
Property Type:
Residential
Bedrooms:
4
Baths:
4.5
Square Footage:
3,268
Lot Size (sq. ft.):
226,076
Status:
Active
Current Price:
$2,500,000
List Date:
8/05/2023
Last Modified:
9/18/2023
Description
ATTENTION INVESTORS: Long or short-term rental opportunity. 5 homes on 5 acres. Minutes from Sandpoint, ID, Schweitzer Mtn Ski Resort, and The Idaho Club Golf Course. Located off SH-200 in Hope Idaho, in the heart of the Trestle Creek Recreational Area. Public beach and boat launch across the street. Up the road is National Forest. With the extensive summer and winter recreation, this would make a great vacation retreat, boutique bed and breakfast or private rental community. Main home is 3168 sq ft |4 bed, 4.5 bath w/ensuite baths off all 4 rooms. 3 single family homes are 1260 sq ft each |3 bed, 2 baths. The cabin is 672 sq ft |2 bed, 1 bath. This is an extremely rare opportunity to achieve economy of scale with 5 rentals on one property with the flexibility of Recreational Zoning. Currently being used as transitional housing & run by a non-profit with rent calculated as a % of income. Open market rents are substantially higher. Short term rental pro-forma is a 7.2 cap rate.
More Information MLS# 23-7351
Contract Information
Status: Active
Listing Type: Site Built > 2 Acres
Income Producing: Yes
Area: North (Bonner & Boundary)
Neighborhood Grid #: 440
Begin Date: 2023-08-05
List Price: $2,500,000
Non-Agent Compensation: 1
Non-Agent Compensation Type: %
Buyer Agency Compensation: 2.5
Buyer Agency Compensation Type: %
Short Sale: No
REO: No
General Property Description
Realtor.COM Type: Residential - Single Family
Building Style: Multi-Level
Basement: No
Garage Type: Att Carport
Garage Stall: 1 Car
Gar/Cpt2-Type: Att Carport
Gar/Cpt2-#/Stalls: 1 car
Gar/Cpt3-Type: Att Carport
Gar/Cpt3-#/Stalls: 1 car
Total Bedrooms: 4
Total Bathrooms: 4.5
Total SqFt.: 3268
SqFt 1: 1800
SqFt 2: 1236
SqFt Source: Builder Plans
Lot Size: 226,207
Lot Acres: 5.19
Year Built: 2002
Remodeled: No
New Construction: No
Lot Type 1: Residential
Add'l Living Quarters: Yes
Add'l Living Quarters Beds: 3
Add'l Living Quarters Total Baths: 2
Add'l Living Quarters Approx SqFt: 1260
Add'l Living Quarters SqFt Source: Builder
Add'l Living Quarters Year Built: 2002
Add'l Living Quarters Description: 2nd Home
Legal and Taxes
Legal: 16-57N-1E TAX 4 LESSTAX 9,15,16 & 18 HWY R/W and 16-57N-1E TAX 18 - SEE ATTACHED EXHIBIT A AND B
AIN/Tax Bill: 12588 & 12589
Parcel Number: RP57N01E166461 & RP57N01E166970
School District: Lk Pend Oreille - 84
Zoning: Recreation
Tax Year: 2022
Taxes Reflect 1: Exempt
Taxes Reflect 2: Exempt
Subdivision: N/A
Directions: From Sandpoint head East on SH-200 for approximately 12 miles. Turn left on Freeman Lane. (1st left past Trestle Creek Rd.). All 5 houses are accessed from Freeman Lane.
Remarks
Public Remarks: ATTENTION INVESTORS: Long or short-term rental opportunity. 5 homes on 5 acres. Minutes from Sandpoint, ID, Schweitzer Mtn Ski Resort, and The Idaho Club Golf Course. Located off SH-200 in Hope Idaho, in the heart of the Trestle Creek Recreational Area. Public beach and boat launch across the street. Up the road is National Forest. With the extensive summer and winter recreation, this would make a great vacation retreat, boutique bed and breakfast or private rental community. Main home is 3168 sq ft |4 bed, 4.5 bath w/ensuite baths off all 4 rooms. 3 single family homes are 1260 sq ft each |3 bed, 2 baths. The cabin is 672 sq ft |2 bed, 1 bath. This is an extremely rare opportunity to achieve economy of scale with 5 rentals on one property with the flexibility of Recreational Zoning. Currently being used as transitional housing & run by a non-profit with rent calculated as a % of income. Open market rents are substantially higher. Short term rental pro-forma is a 7.2 cap rate.
Address Information
Street Number: 71
Street Name: Freeman
Street Suffix: Ln
State/Province: ID
Postal Code: 83836
County: Bonner
Property Subject to
CC&Rs: No
Homeowners Assoc: None
LID: No
Docs on File: Yes
Non-Mtg Lien: None
Flood Zone: Yes
Aircraft Flight Zone: Unknown
Fire Protection Dist: Yes
Fire Protection Name: Sam Owen Fire
Miscellaneous
Sec: 16
Twn: 57N
Rng: 01
Rng Dir: EBM
Rooms per Level
1st Fl Living Rm: 1
1st Fl Dining Room: 1
1st Fl Kitchen: 1
1st Fl Half Bath: 1
1st Fl Laundry: 1
1st Fl Other Rm(s): 2
2nd Fl Mst Bdrm Suite: 4
Other Rooms
Office: 1
Storage: 1
Other Structures
Shop Size: 24 x 36
Water
Est GPM: 50
Number of Homes: 5
Number of Homes on Well: 5
Sewer
Number of Homes: 5
Property Features
View: Mountain(s); Neighborhood
Lot Features: Cul-De-Sac; Level; Open; Wooded
Interior Features: Dryer Hookup - Elec; Gas Fireplace; High Speed Internet; Washer Hookup
Exterior Features: Covered Patio; Covered Porch; Garden; Paved Parking
Common Walls: No Common Walls
Appliances: Range/Oven - Elec; Propane Water Heater
Kitchen Amenities: Kitchen Island
Fuel: Electric; Propane
Heating: Baseboard; Fireplace; Forced Air; Furnace
Other Structures: Shed
Basement: None, Crawl Space
Foundation: Concrete
Construction: Frame
Exterior: Hardboard
Flooring: Carpet; Laminate; Vinyl
Roof: Metal
Road: Gravel; Public Maintained Road
Water: Community Well
Sewer: Community System; Shared Septic
Terms Considered: 1031 Exchange; Cash; Conventional; Idaho Housing Agency
Documents
Well Report ›Listing Office: Tomlinson Sotheby's International Realty (Idaho)
Last Updated: September - 18 - 2023
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