Fully Leased Fourplex Income
For Sale
$970,000
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
Price / SF$255.26
Days on Market9
Property Features for 1521 W Alexandra Ln
General Information
Standard status
Active
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
Building Details
Year Built
2013
Tenancy
Multi
Listing Agency:
Silvercreek Realty Group
(208) 631-7905
Listed By:
Kim Christianson · License #SP25575
(208) 631-7905
Source:
Thgboise
Added: Jul 22
Changed: Jul 25
Last Checked: Jul 30 at 6:05AM
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 For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $66.1k | $17.40 |
| − Vacancy | −$688 | −$0.18 |
| EGI | $65.4k | $17.22 |
| − OpEx | −$19.6k | −$5.17 |
| NOI | $45.8k | $12.05 |
3,800 SF · lease $17.40/SF/yr · vacancy 1.04% · expense 30.00%
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
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
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 - 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
