Fully Leased Fourplex Income
For Sale
$970,000
1535 W Alexandra Ln, Boise, ID 83705
Fully occupied fourplex with four 2-bedroom, 2-bath units, each with in-unit laundry and covered carport parking.
Property Size3,800 SF
Price / SF$255.26
Days on Market9
Property Features for 1535 W Alexandra Ln
General Information
Standard status
Active
Size
3,800 SF
Property subtype
Quadruplex
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
4
Amenities
in-unit washer/dryer
covered carport parking
Lot Features: "Small Lot 5999 SF", "Irrigation", "Sidewalks", Lot Size Acres: 0.13, Lot Size Area: 0.13, Lot Size Square Feet: 5662.8, Lot Size Units: Acres
Tax Annual Amount: 8186.26, Tax Legal Description: Lot 9 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: 68820, Gross Scheduled Income: 6780, Net Operating Income: 44868
Cooling YN: t, Cooling: Central Air
Heating: "Electric", "Forced Air", Heating YN: t
Laundry Features: Washer/Dryer Hookups (All Units)
Listing Id: 98994837, Listing Service: Full Service, Listing Terms: "Cash", "Conventional", "FHA", List Price: 970000, Mls Status: New, Number Of Units Total: 4, Standard Status: Active, Total Actual Rent: 5735
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: 7422, Manager Expense: 3383, Operating Expense: 23952, Other Expense: 8186
City: Boise, Coordinates: "-116.200494", "43.571168", Country: US, County Or Parish: Ada, Directions: N Vista Ave, E Canal St, S Victory Rd, S Lindsay Ave, W Alexandra Ln, Latitude: 43.571168, Longitude: -116.200494, Postal Code: 83705, State Or Province: ID, Street Dir Prefix: W, Street Name: Alexandra Ln, Street Number: 1535, Street Number Numeric: 1535, Subdivision Name: Lloyd, Unparsed Address: 1535 W Alexandra Ln, Boise ID 83705
Current Use: 2-4 Units, Farm Land Area Units: Square Feet, Leasable Area Units: Square Feet, Parcel Number: R5292910090, Property Sub Type: Quadruplex, Property Type: Residential Income
Bathrooms Total Integer: 8
Electric: 2961, Electric Expense: 2961, 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) 631-7905
Listed By:
Kim Christianson · License #SP25575
(208) 631-7905
Source:
Thgboise
Added: Jul 22
Changed: Jul 26
Last Checked: Jul 30 at 6:25AM
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 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.
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 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 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 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
