Three Quadplexes Portfolio, 12
For Sale
$2,910,000
1521 1527 1535 W Alexandra Ln, Boise, ID 83705
MULTI_FAMILY - Boise, ID
Property Size11,400 SF
Lot Size0.38 Acres
Price / SF$255.26
Days on Market111
Property Features for 1521 1527 1535 W Alexandra Ln
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Bedrooms
24
Bathrooms
24
Full bathrooms
24
Rooms
Bedroom 9, Bathroom 21, Bathroom 13, Bedroom 13, Bathroom 17, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 11, Bedroom 2, Bathroom 5, Bathroom 4, Bedroom 7, Bedroom 19, Bathroom 3, Bathroom 23, Bathroom 8, Bathroom 10, Bedroom 18, Bedroom 8, Bedroom 6, Bathroom 14, Bathroom 7, Bathroom 22, Bathroom 24, Bathroom 15, Bathroom 9, Bedroom 12, Bedroom 17, Bedroom 10, Bedroom 21, Bathroom 1, Bedroom 16, Bedroom 20, Bathroom 16, Bathroom 18, Bathroom 12, Bedroom 3, Bedroom 24, Bedroom 14, Bedroom 23, Bathroom 20, Bedroom 15, Bedroom 22, Bathroom 6, Bathroom 19, Bedroom 5, Bathroom 11
Parking
12
Parking features
Carport
Appliances
Disposal (All Units), Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (All Units)
Subdivision
Lloyd
Lot features
10000 S F - .49, 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, R5292910080, R5292910090
Size
11,400 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
See Exhibit A
Tax Annual Amount
24573
Legal Description
See Exhibit A
Utilities
Heating system
Forced Air, Electric (Heating)
Cooling system
Central Air
Amenities
in-unit washer and dryer
full kitchen appliances
Building Details
Year built
2013
Number of units
12
Building materials
Frame
Roof type
Composition
Listing Agency:
Silvercreek Realty Group
(208) 377-0422
Listed By:
Kim Christianson · License #SP44513
(208) 631-7905
Added: Apr 23
Changed: Aug 1
Last Checked: Aug 11 at 10:06PM
MLS# 98983297
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.
Three multi-family buildings are offered together, totaling 12 units. Each building includes four units, and every unit is a two-bedroom, two-bath layout. All 12 units are fully occupied.
The units are equipped with a full suite of appliances, including a refrigerator, stove/range, microwave, and dishwasher, plus an in-unit washer and dryer. Covered carport parking is provided with each unit. The property totals 0.38 acres and 11,400 square feet, and was built in 2013 with frame construction and a composition roof. Heating is forced air with electric heat, and cooling is central air.
Located at 1521, 1527, and 1535 W Alexandra Ln in Boise, ID 83705, the buildings offer easy access to public transportation and are close to Boise State University, the Boise Airport, and the interstate. Downtown Boise is less than four miles away.
The units are equipped with a full suite of appliances, including a refrigerator, stove/range, microwave, and dishwasher, plus an in-unit washer and dryer. Covered carport parking is provided with each unit. The property totals 0.38 acres and 11,400 square feet, and was built in 2013 with frame construction and a composition roof. Heating is forced air with electric heat, and cooling is central air.
Located at 1521, 1527, and 1535 W Alexandra Ln in Boise, ID 83705, the buildings offer easy access to public transportation and are close to Boise State University, the Boise Airport, and the interstate. Downtown Boise is less than four miles away.
Key Highlights
- 12 units across three four‑unit buildings, all fully occupied
- Each unit is a 2‑bedroom, 2‑bath floorplan
- In‑unit washer and dryer plus refrigerator, stove/range, 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
$137,408
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%
$2,748,160
$2.7M
Cap Rate 7%
$1,962,971
$2.0M
Cap Rate 9%
$1,526,756
$1.5M
Market Conditions
NOI Build-Up for 11,400 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
$198.4K $17.40/SF
− Vacancy
−$2.1K −$0.18/SF
EGI
$196.3K $17.22/SF
− OpEx
−$58.9K −$5.17/SF
NOI
$137.4K $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%
$2,748,160
Cap Rate 7%
$1,962,971
Cap Rate 9%
$1,526,756
Alternative Uses
Best Use
Multifamily LT 5
$1.96M
$1.72M – $2.29M
NOI $137,408 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$1.71M
$1.50M – $2.00M
NOI $119,816 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$3.15M
$2.75M – $3.67M
NOI $220,385 @ 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
12
Residential units
100%
Occupancy
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 - Three four-unit buildings totaling 12 fully occupied 2-bed, 2-bath units with in-unit washer/dryer and covered carport parking.
Where is this quadplex located?
The property is located at 1521 1527 1535 W Alexandra Ln Boise, ID.
What is the asking price?
The asking price for this property is $2,910,000.
What are key features of this property?
This property features: 12 units across three four‑unit buildings, all fully occupied; Each unit is a 2‑bedroom, 2‑bath floorplan; In‑unit washer and dryer plus refrigerator, stove/range, microwave, and dishwasher
