4-Unit Apartment
New
For Sale
$999,000
10042 W Garverdale Ln, Boise, ID 83704
Residential Income, Boise, ID
Property Size4,452 SF
Price / SF$224.39
Days on Market5
Property Features for 10042 W Garverdale Ln
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
12
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 11, Bedroom 1, Bathroom 1, Bedroom 7, Bedroom 6, Bathroom 6, Bedroom 12, Bedroom 10, Bedroom 3, Bathroom 3, Bedroom 4, Bedroom 2, Bathroom 8, Bathroom 5, Bathroom 2, Bathroom 7, Bedroom 9, Bedroom 5, Bedroom 8, Bathroom 4
Parking
8
Appliances
Disposal (All Units), Disposal (Some Units), Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (No Units)
Subdivision
O'neal
Lot features
Small Lot 5999 S F, Bus on City Route
Elementary school
Morley Nelson
Middle school
Fairmont
High school
Capital
Elementary school district
Boise School District #1
Middle school district
Boise School District #1
High school district
Boise School District #1
Directions
Five Mile, E on Fairview, N Hampton, E Garverdale
Standard status
Active
APN
R6558140160
Size
4,452 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 16 Blk 01 O'Neil Sub
Tax Annual Amount
8507
HOA Fee
$220 Monthly
Legal Description
Lot 16 Blk 01 O'Neil Sub
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
walk-in closets
in-unit laundry
outdoor patio
private storage closet
Building Details
Year built
2005
Number of units
4
Flooring type
Laminate
Building materials
Frame, Stucco
Roof type
Composition
Listing Agency:
Homes of Idaho
(208) 442-8500
Listed By:
Karen Brown · License #SP54636
(208) 960-0062
Added: Oct 1
Changed: Oct 3
Last Checked: Oct 5 at 7:06AM
MLS# 99002538
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.
Built in 2005, this 4,452-square-foot multifamily property contains four residences of 1,113 square feet each. Every unit is configured with three bedrooms, two bathrooms, walk-in closets, and an outdoor patio with a private storage closet. Three units have newer HVAC systems, and water heaters have been replaced throughout the property. Two refrigerators and two microwaves are also new.
All four residences are occupied under existing leases. The property is in Boise, with access to shopping, dining, schools, major roads, and everyday services.
All four residences are occupied under existing leases. The property is in Boise, with access to shopping, dining, schools, major roads, and everyday services.
Key Highlights
- Four units, each measuring 1,113 square feet, for 4,452 square feet total
- Each residence includes 3 bedrooms and 2 bathrooms
- All four units are occupied with leases in place
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
$53,661
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
5.37%
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%
$1,073,220
$1.1M
Cap Rate 7%
$766,586
$766.6K
Cap Rate 9%
$596,233
$596.2K
Market Conditions
NOI Build-Up for 4,452 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
$77.5K $17.40/SF
− Vacancy
−$806 −$0.18/SF
EGI
$76.7K $17.22/SF
− OpEx
−$23.0K −$5.17/SF
NOI
$53.7K $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%
$1,073,220
Cap Rate 7%
$766,586
Cap Rate 9%
$596,233
Alternative Uses
Best Use
Multifamily LT 5
$766.6K
$670.8K – $894.4K
NOI $53,661 @ 7.0% cap · market cap 5.37%
Second Best
Apartment 5plus
$668.4K
$584.9K – $779.9K
NOI $46,791 @ 7.0% cap · market cap 4.68%
Theoretical Best
Office A
$1.23M
$1.08M – $1.43M
NOI $86,066 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
663
Businesses Nearby
Explore this area
Business Placement
Demographics for 83704, ID
42,430
Population
17,776
Households
2.4
Avg Household Size
37
Median Age
32%
College-Educated
92%
High-School Grad
8.8 sq mi
ZIP Area
4,822
Density / Sq Mi
$70,806
Median Household Income
$37,201
Median Earnings
$1,363
Median Rent
$354,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Each residence has three bedrooms, two bathrooms, and a private outdoor patio.
Where is this quadplex located?
The property is located at 10042 W Garverdale Ln Boise, ID.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Four units, each measuring 1,113 square feet, for 4,452 square feet total; Each residence includes 3 bedrooms and 2 bathrooms; All four units are occupied with leases in place
