Fully Leased Fourplex Income
For Sale
$970,000
Pending
1521 W Alexandra Ln, Boise, ID 83705
This fully occupied fourplex offers four 2-bedroom, 2-bath units with in-unit washer/dryer and covered carport parking.
Property Size3,800 SF
Days on Market54
Property Features for 1521 W Alexandra Ln
General Information
Standard status
Pending
Size
3,800 SF
Total Parking Spaces
4
Property subtype
Quadruplex
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
4
Amenities
full appliance package
in-unit washer/dryer
Lot Features: Small Lot 5999 SF, Irrigation, Sidewalks, Lot Size Acres: 0.14, Lot Size Area: 0.14, Lot Size Square Feet: 6098.4, Lot Size Units: Acres
Tax Annual Amount: 8186.26, Tax 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, Tax Year: 2025
Carport YN: t
Gross Income: 68100, Gross Scheduled Income: 6780, Net Operating Income: 45509
Cooling: Central Air, Cooling YN: t
Heating: Electric, Forced Air, Heating YN: t
Laundry Features: Washer/Dryer Hookups (All Units)
Listing Id: 98994835, Listing Service: Full Service, Listing Terms: Cash, Conventional, FHA, List Price: 970000, Mls Status: Pending, Number Of Units Total: 4, Standard Status: Pending, Total Actual Rent: 5675
Parking Features: Carport, Parking Total: 4
Elementary School: Hawthorne, Elementary School District: Boise School District #1, High School: Borah, High School District: Boise School District #1, Middle Or Junior School: South Boise Jr, Middle Or Junior School District: Boise School District #1
Bedrooms Total: 8
Above Grade Finished Area Units: Square Feet, Below Grade Finished Area Units: Square Feet, Building Area Total: 3800, Building Area Units: Square Feet, Construction Materials: Frame, Living Area: 3800, Living Area Units: Square Feet, Year Built: 2013
Insurance Expense: 2000, Maintenance Expense: 6145, Manager Expense: 3220, Operating Expense: 22591, Other Expense: 11226
City: Boise, Coordinates: -116.199953, 43.571152, Country: US, County Or Parish: Ada, Directions: N Vista Ave, E Canal St, S Victory Rd, S Lindsay Ave, W Alexandra Ln, Latitude: 43.571152, Longitude: -116.199953, Postal Code: 83705, State Or Province: ID, Street Dir Prefix: W, Street Name: Alexandra Ln, Street Number: 1521, Street Number Numeric: 1521, Subdivision Name: Lloyd, Unparsed Address: 1521 W Alexandra Ln, Boise ID 83705
Current Use: 2-4 Units, Farm Land Area Units: Square Feet, Leasable Area Units: Square Feet, Parcel Number: R5292910070, Property Sub Type: Quadruplex, Property Type: Residential Income
Bathrooms Total Integer: 8
Gas: Unit 1 Separate Meter, Unit 2 Separate Meter, Unit 3 Separate Meter, Unit 4 Separate Meter, Utilities: Sewer Connected
Irrigation Source: Irrigation District: Yes, New York Irr, Water Source: City Service
Appliances: Disposal (All Units), Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (All Units)
Building Details
Year Built
2013
Tenancy
Multi
Listing Agency:
Silvercreek Realty Group
(208) 377-0422
Listed By:
Kim Christianson · License #SP44513
(208) 631-7905
Source:
Thgboise
Added: Jul 22
Changed: Sep 12
Last Checked: Sep 13 at 10:07AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Silvercreek Realty Group
Investment Insights
Based on property information with market context.
This fully leased fourplex provides income-generating residential units with a spacious 2-bedroom, 2-bathroom layout in each home. Each unit includes a full appliance package featuring a refrigerator, range/oven, microwave, and dishwasher, along with an in-unit washer/dryer. Covered carport parking is also provided for tenants.
The property is located near public transit and close to Boise State University, the Boise Airport, and interstate access. Downtown Boise is also less than four miles away, offering convenient access to city amenities.
With all four units leased and operating, this offering is positioned as a turnkey income property within a fourplex configuration.
The property is located near public transit and close to Boise State University, the Boise Airport, and interstate access. Downtown Boise is also less than four miles away, offering convenient access to city amenities.
With all four units leased and operating, this offering is positioned as a turnkey income property within a fourplex configuration.
Key Highlights
- Fully occupied fourplex with four 2‑bedroom, 2‑bath units
- Built in 2013
- Each unit includes a full appliance package: refrigerator, range/oven, microwave, and dishwasher
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
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Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - This fully occupied fourplex offers four 2-bedroom, 2-bath units with in-unit washer/dryer and covered carport parking.
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; Built in 2013; Each unit includes a full appliance package: refrigerator, range/oven, microwave, and dishwasher
