6-Unit Apartment
1508 W Hays, Boise, ID 83702
For Sale
New
$1,050,000
Residential Income, Boise, ID
Property Size4,476 SF
Price / SF$234.58
Days on Market3
Property Features for 1508 W Hays
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Appliances
Subdivision
Lot features
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Building Details
Year built
Number of units
Building materials
Roof type
Buildings
Listing Agency:
Keller Williams Realty Boise
(208) 672-9000
Listed By:
Lynn Bradescu · License ID SP33134
(208) 949-7133
Added: Nov 9
Changed: Nov 10
Last Checked: Nov 11 at 1:06AM
MLS# 99006083
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.
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Investment Insights
Based on property information with market context.
This 4,476-square-foot apartment property has five units in the main building and a detached cottage. The units have been remodeled, and all are currently leased. Construction is frame, with baseboard heating and a composition roof. Each unit is equipped with a stove/range and refrigerator. The building dates to 1907.
At 1508 W Hays in Boise’s North End, the property is near schools, trails, shopping, and downtown.
At 1508 W Hays in Boise’s North End, the property is near schools, trails, shopping, and downtown.
Key Highlights
- Six units: five in the main building and one detached cottage
- 4,476 square feet; built in 1907
- All units remodeled and currently leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,044
Cap Rate
4.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$940,880
$940.9K
Cap Rate 7%
$672,057
$672.1K
Cap Rate 9%
$522,711
$522.7K
Market Conditions
NOI Build-Up for 4,476 SF
Gross rent
$86.5K $19.32/SF
− Vacancy
−$943 −$0.21/SF
EGI
$85.5K $19.11/SF
− OpEx
−$38.5K −$8.60/SF
NOI
$47.0K $10.51/SF
Area
Ada County, ID
Vacancy
1.09%
Lease Rate
$19.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$940,880
Cap Rate 7%
$672,057
Cap Rate 9%
$522,711
Alternative Uses
Best Use
Apartment 5plus
$672.1K
$588.1K – $784.1K
NOI $47,044 @ 7.0% cap · market cap 4.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,530 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,422
Businesses Nearby
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Business Placement
Demographics for 83702, ID
23,951
Population
12,771
Households
1.9
Avg Household Size
40
Median Age
61%
College-Educated
97%
High-School Grad
31.4 sq mi
ZIP Area
763
Density / Sq Mi
$82,586
Median Household Income
$48,200
Median Earnings
$1,175
Median Rent
$708,000
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Boise, ID
Properties on Market for Apartment buildings in Boise
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The six residences include a separate cottage, and all units are currently leased.
Where is this apartment building located?
The property is located at 1508 W Hays Boise, ID.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Six units: five in the main building and one detached cottage; 4,476 square feet; built in 1907; All units remodeled and currently leased
