Updated Triplex Ready to
For Sale
$619,000
Pending
1818 W Washington St, Boise, ID 83702
MULTI_FAMILY - Boise, ID
Property Size1,592 SF
Lot Size0.14 Acres
Days on Market48
Property Features for 1818 W Washington St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
R-2
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 2, Bedroom 1
Subdivision
Mc Carthy Sub
Lot features
Standard Lot 6000-9999 S F, Garden, Sidewalks
Elementary school
Lowell
Middle school
North Jr
High school
Boise
Elementary school district
Boise School District #1
Middle school district
Boise School District #1
High school district
Boise School District #1
Directions
W on State St, N 19th St, E on Washington
Standard status
Pending
APN
R5538912030
Size
1,592 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 2 BLK 18 MCCARTYS ADD
Tax Annual Amount
5966
Legal Description
LOT 2 BLK 18 MCCARTYS ADD
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
laundry room
Building Details
Year built
1900
Number of units
3
Building materials
Frame, Wood Siding
Roof type
Composition
Listing Agency:
Amherst Madison
(208) 391-2391
Listed By:
Matt Bauscher · License #SP40991
(208) 330-8515
Added: Jun 26
Changed: Aug 9
Last Checked: Aug 12 at 2:06AM
MLS# 98991936
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.
This updated triplex provides three separate residences with a shared main-floor laundry room. The spacious main-level unit includes a large living/dining room, full kitchen, and a large bedroom with an en-suite bath plus an adjacent room suited for a guest bedroom or office. Upstairs, two fully equipped one-bedroom units each feature updated kitchens and full bathrooms.
Recent improvements include fresh paint, new LVP flooring, contemporary lighting, updated kitchens, a newer roof, and updated HVAC throughout. The building is a frame property with wood siding, heated by forced air and cooled with central air. The roof is composition.
Set on a 0.14-acre lot in Boise’s Historic North End at 1818 W Washington St, the property totals 1,592 square feet and was built in 1900, offering character with practical, tenant-ready upgrades.
Recent improvements include fresh paint, new LVP flooring, contemporary lighting, updated kitchens, a newer roof, and updated HVAC throughout. The building is a frame property with wood siding, heated by forced air and cooled with central air. The roof is composition.
Set on a 0.14-acre lot in Boise’s Historic North End at 1818 W Washington St, the property totals 1,592 square feet and was built in 1900, offering character with practical, tenant-ready upgrades.
Key Highlights
- 0.14‑acre lot with a 1,592‑square‑foot triplex built in 1900
- Main‑level unit with large living/dining room, full kitchen, and en‑suite bedroom bath plus adjacent flex room
- Two upstairs one‑bedroom units with updated kitchens and full bathrooms
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
$19,189
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
3.10%
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%
$383,780
$383.8K
Cap Rate 7%
$274,129
$274.1K
Cap Rate 9%
$213,211
$213.2K
Market Conditions
NOI Build-Up for 1,592 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
$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 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%
$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
NOI $19,189 @ 7.0% cap · market cap 3.10%
Second Best
Apartment 5plus
$239.0K
$209.2K – $278.9K
NOI $16,732 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$439.7K
$384.7K – $513.0K
NOI $30,777 @ 7.0% cap · market cap 4.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex offers updated interiors, newer roof and HVAC, and shared main-floor laundry for three residences.
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: 0.14‑acre lot with a 1,592‑square‑foot triplex built in 1900; Main‑level unit with large living/dining room, full kitchen, and en‑suite bedroom bath plus adjacent flex room; Two upstairs one‑bedroom units with updated kitchens and full bathrooms
