Fourplex with Carport
For Sale
$970,000
1521 W Alexandra Ln, Boise, ID 83705
MULTI_FAMILY - Boise, ID
Property Size3,800 SF
Lot Size0.14 Acres
Price / SF$255.26
Days on Market21
Property Features for 1521 W Alexandra Ln
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 3, Bathroom 2, Bathroom 4, Bedroom 4, Bathroom 1, Bathroom 8, Bedroom 1, Bathroom 6, Bedroom 6, Bathroom 5, Bedroom 7, Bedroom 5, Bedroom 8, Bathroom 7, Bathroom 3, Bedroom 2
Parking
4
Parking features
Carport
Appliances
Disposal (All Units), Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (All Units)
Subdivision
Lloyd
Lot features
Small Lot 5999 S F, Irrigation, Sidewalks
Elementary school
Hawthorne
Middle school
South Boise Jr
High school
Borah
Elementary school district
Boise School District #1
Middle school district
Boise School District #1
High school district
Boise School District #1
Directions
N Vista Ave, E Canal St, S Victory Rd, S Lindsay Ave, W Alexandra Ln
Standard status
Active
APN
R5292910070
Size
3,800 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 7 in Block 1 of Lloyd Sub, according to the official plat thereof, filed in Book 95 of Plats at Page(s) 11772 and 11773, and as Amended by an Affidavit recorded October 23, 2008 as instrument No. 108117243, official records of ADA County, Idaho
Tax Annual Amount
8186
Legal Description
Lot 7 in Block 1 of Lloyd Sub, according to the official plat thereof, filed in Book 95 of Plats at Page(s) 11772 and 11773, and as Amended by an Affidavit recorded October 23, 2008 as instrument No. 108117243, official records of ADA County, Idaho
Utilities
Heating system
Forced Air, Electric (Heating)
Cooling system
Central Air
Building Details
Year built
2013
Number of units
4
Building materials
Frame
Roof type
Composition
Listing Agency:
Silvercreek Realty Group
(208) 377-0422
Listed By:
Kim Christianson · License #SP44513
(208) 631-7905
Added: Jul 22
Changed: Aug 1
Last Checked: Aug 11 at 9:06PM
MLS# 98994835
Copyright © 2026 Intermountain Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully occupied fourplex offers income-generating housing with four spacious 2-bedroom, 2-bath units. Each unit is equipped with a full appliance package, including a refrigerator, range/oven, microwave, dishwasher, and an in-unit washer/dryer. Residents also benefit from covered carport parking. The property is framed construction with forced-air electric heating and central air conditioning, topped with a composition roof.
Built in 2013 on a 0.14-acre lot, the property provides approximately 3,800 square feet of total building area. It is located near public transit, Boise State University, Boise Airport, and interstate access, with Downtown Boise less than four miles away, supporting convenient day-to-day commuting and local access.
For tenants, the unit mix is consistent across the four homes, which can simplify operations and leasing while keeping a uniform in-unit amenity experience from unit to unit.
Built in 2013 on a 0.14-acre lot, the property provides approximately 3,800 square feet of total building area. It is located near public transit, Boise State University, Boise Airport, and interstate access, with Downtown Boise less than four miles away, supporting convenient day-to-day commuting and local access.
For tenants, the unit mix is consistent across the four homes, which can simplify operations and leasing while keeping a uniform in-unit amenity experience from unit to unit.
Key Highlights
- Fully occupied fourplex with four 2‑bedroom, 2‑bath units
- In‑unit washer/dryer plus refrigerator, range/oven, microwave, and dishwasher in each unit
- Covered carport parking included for residents
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,803
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.72%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$916,060
$916.1K
Cap Rate 7%
$654,329
$654.3K
Cap Rate 9%
$508,922
$508.9K
Market Conditions
NOI Build-Up for 3,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$66.1K $17.40/SF
− Vacancy
−$688 −$0.18/SF
EGI
$65.4K $17.22/SF
− OpEx
−$19.6K −$5.17/SF
NOI
$45.8K $12.05/SF
Area
Ada County, ID
Vacancy
1.04%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$916,060
Cap Rate 7%
$654,329
Cap Rate 9%
$508,922
Alternative Uses
Best Use
Multifamily LT 5
$654.3K
$572.5K – $763.4K
NOI $45,803 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$570.6K
$499.2K – $665.7K
NOI $39,939 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$1.05M
$918.3K – $1.22M
NOI $73,462 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
295
Businesses Nearby
Explore this area
Business Placement
Demographics for 83705, ID
27,756
Population
13,228
Households
2.1
Avg Household Size
35
Median Age
38%
College-Educated
93%
High-School Grad
16.2 sq mi
ZIP Area
1,713
Density / Sq Mi
$62,605
Median Household Income
$37,283
Median Earnings
$1,166
Median Rent
$378,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied fourplex with 2-bedroom, 2-bath units and covered carport parking, built in 2013.
Where is this quadplex located?
The property is located at 1521 W Alexandra Ln Boise, ID.
What is the asking price?
The asking price for this property is $970,000.
What are key features of this property?
This property features: Fully occupied fourplex with four 2‑bedroom, 2‑bath units; In‑unit washer/dryer plus refrigerator, range/oven, microwave, and dishwasher in each unit; Covered carport parking included for residents
