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Lake CDA Apartments 219 E Coeur D Alene Lake Dr 12 Unit Apartment Building $2,175,000 ($181,250/Unit) 7.34% Cap Rate Coeur d'Alene, ID 83814
EXECUTIVE SUMMARY
$800k in seller financing available for 3 years at 8% interest-only. Lake CDA Apartments is a 4,978 SF multifamily property on a 0.43 acre parcel in east downtown Coeur d'Alene. The fully furnished asset includes 12 units consisting of 9 studios and 3 one bedroom apartments, plus an on-site laundry facility and manager's office. Recent upgrades include new interior and exterior paint, modern fixtures, updated kitchenettes, and a new TPO roof. Rents range from $1,300 to $1,800 per month, with two one bedroom units generating over $4,000 monthly as Airbnbs. Ideally located next to Michael D's, across from Vantage Brewing, and adjacent to the Coeur d'Alene Resort Golf Course, the property blends tenant appeal with strong investment upside. The T-12 figures reflect an annual revenue of $202,530 and -$42,827 in expenses, producing an NOI of $159,703 with an average occupancy of 89%. Zoned C17, the property offers mixed-use flexibility for residential or commercial applications.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$202,530
|
$53.72
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$202,530
|
$53.72
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$42,827
|
$11.36
|
| Net Operating Income |
$159,703
|
$42.36
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $202,530 |
| Annual Per SF | $53.72 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $202,530 |
| Annual Per SF | $53.72 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $42,827 |
| Annual Per SF | $11.36 |
| Net Operating Income | |
|---|---|
| Annual | $159,703 |
| Annual Per SF | $42.36 |
PROPERTY FACTS
| Price | $2,175,000 | Apartment Style | Low-Rise |
| Price Per Unit | $181,250 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.44 AC |
| Cap Rate | 7.34% | Building Size | 4,978 SF |
| No. Units | 12 | Average Occupancy | 89% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built/Renovated | 1938/2024 |
| Zoning | C-17 - C-17 | ||
| Price | $2,175,000 |
| Price Per Unit | $181,250 |
| Sale Type | Investment |
| Cap Rate | 7.34% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.44 AC |
| Building Size | 4,978 SF |
| Average Occupancy | 89% |
| No. Stories | 1 |
| Year Built/Renovated | 1938/2024 |
| Zoning | C-17 - C-17 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Microwave
- Heating
- Kitchen
- High Speed Internet Access
- Refrigerator
- Sprinkler System
- Range
- Tub/Shower
SITE AMENITIES
- Laundry Facilities
- Property Manager on Site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 3 | - | - |
| Studios | 9 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | C432001600DA | Improvements Assessment | $936,791 (2025) |
| Land Assessment | $415,342 (2025) | Total Assessment | $1,352,133 (2025) |
PROPERTY TAXES
Parcel Number
C432001600DA
Land Assessment
$415,342 (2025)
Improvements Assessment
$936,791 (2025)
Total Assessment
$1,352,133 (2025)
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Lake CDA Apartments | 219 E Coeur D Alene Lake Dr
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