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Building Details

Year Built 1900

Listing Agency: Amherst Madison

Listed By: Matt Bauscher · License #SP40991 Show Phone

Source: Platzplace

Added: Aug 6 Changed: Oct 14 Last Checked: Oct 7 at 1:44PM

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Investment Insights

Based on property information with market context.

This 1,592-square-foot triplex contains three residences within a 1900-built property. The main-level home includes a living and dining area, full kitchen, large bedroom with an en-suite bathroom, and an adjoining room suited to use as a guest bedroom or office. Two upstairs one-bedroom units add updated kitchens and full bathrooms.

Improvements include fresh paint, new LVP flooring, contemporary lighting, a newer roof, and updated HVAC. Residents share a large laundry room on the main floor. The property is in Boise’s Historic North End, with Hyde Park, Camel’s Back Park, and downtown identified as nearby destinations.

Key Highlights

• Three‑unit residential property with 1,592 SF of building area
• Main‑level residence includes an en‑suite bedroom and adjacent guest bedroom or office
• Two upstairs one‑bedroom units with updated kitchens and full bathrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$19,189

Cap Rate

3.10%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$383,780 $383.8K

Cap Rate 7%

$274,129 $274.1K

Cap Rate 9%

$213,211 $213.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,592 SF

Gross rent

$27.7K $17.40/SF

− Vacancy

−$288 −$0.18/SF

EGI

$27.4K $17.22/SF

− OpEx

−$8.2K −$5.17/SF

NOI

$19.2K $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%

$383,780

Cap Rate 7%

$274,129

Cap Rate 9%

$213,211

Alternative Uses

Best Use

Multifamily LT 5

$274.1K

$239.9K – $319.8K (±1% cap)

NOI $19,189 @ 7.0% cap · market cap 3.10%

Second Best

Apartment 5plus

$239.0K

$209.2K – $278.9K (±1% cap)

NOI $16,732 @ 7.0% cap · market cap 2.70%

Theoretical Best

Office A

$439.7K

$384.7K – $513.0K (±1% cap)

NOI $30,777 @ 7.0% cap · market cap 4.97%

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

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Locksmith (Bike/Boat/Book/etc) Store Grocery & Convenience Store Home Appliance Store Catering Service Butcher

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

3

Residential units

Location Intelligence

Trade Area within ½ mile

2,374

Businesses Nearby

Explore this area Business Placement

Demographics for 83702, ID

23,951

Population

12,771

Households

1.9

Avg Household Size

40

Median Age

61%

College-Educated

97%

High-School Grad

31.4 sq mi

ZIP Area

763

Density / Sq Mi

$82,586

Median Household Income

$48,200

Median Earnings

$1,175

Median Rent

$708,000

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?

Triplex - Three residential units share a main-floor laundry room and feature refreshed kitchens, flooring, lighting, and HVAC.

Where is this triplex located?

The property is located at 1818 W Washington St Boise, ID.

What is the asking price?

The asking price for this property is $619,000.

What are key features of this property?

This property features: Three‑unit residential property with 1,592 SF of building area; Main‑level residence includes an en‑suite bedroom and adjacent guest bedroom or office; Two upstairs one‑bedroom units with updated kitchens and full bathrooms