Building Details

Year Built 2013

Tenancy Multi

Listing Agency: Silvercreek Realty Group

Listed By: Kim Christianson · License #SP44513 Show Phone

Source: Clearwaterproperties

Added: Jul 25 Changed: Oct 16 Last Checked: Oct 16 at 9:08AM

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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

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Investment Insights

Based on property information with market context.

This fully leased fourplex offers immediate occupancy with four separate units. Each unit provides a spacious 2-bedroom, 2-bathroom layout and includes a full appliance package with refrigerator, range/oven, microwave, and dishwasher, along with an in-unit washer/dryer. Each unit is also paired with the convenience of a covered carport parking space.

The property is located close to public transit, Boise State University, Boise Airport access, and interstate access. Downtown Boise is less than four miles away, supporting convenient access to the city’s dining and entertainment options.

Designed for low-maintenance operation with all units leased, this is a turnkey residential income property for investors seeking a stabilized, cash-flowing asset.

Key Highlights

• Fully occupied fourplex built in 2013 with four 2‑bedroom, 2‑bath units
• Each unit includes an appliance package: refrigerator, range/oven, microwave, and dishwasher
• In‑unit washer/dryer in all four units

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$45,803

Cap Rate

4.72%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$916,060 $916.1K

Cap Rate 7%

$654,329 $654.3K

Cap Rate 9%

$508,922 $508.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,800 SF

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 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 (±1% cap)

NOI $45,803 @ 7.0% cap · market cap 4.72%

Second Best

Apartment 5plus

$570.6K

$499.2K – $665.7K (±1% cap)

NOI $39,939 @ 7.0% cap · market cap 4.12%

Theoretical Best

Office A

$1.05M

$918.3K – $1.22M (±1% cap)

NOI $73,462 @ 7.0% cap · market cap 7.57%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Dental Office Real Estate Agency Law Firm Nail Salon HVAC Service Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - Fully occupied fourplex with four 2-bedroom, 2-bath units, each with in-unit laundry and covered carport parking.

Where is this quadplex located?

The property is located at 1535 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 built in 2013 with four 2‑bedroom, 2‑bath units; Each unit includes an appliance package: refrigerator, range/oven, microwave, and dishwasher; In‑unit washer/dryer in all four units