Remodeled Multifamily
For Sale
$475,000
1889 Pilgrim Ave, Boise, ID 83704
Occupied rental asset with updated interiors and an existing lease extending through December 2026.
Property Size1,442 SF
Price / SF$329.40
Days on Market84
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Property Features for 1889 Pilgrim Ave
General Information
Standard status
Active
Size
1,442 SF
Property subtype
Multi-Family
Financials
Gross Income
$28,200
Average Monthly Rent
$2,350
Additional Details
Multifamily Units
1
Building Details
Year Built
1992
Year Renovated
2025
Buildings
1
Listing Agency:
Silvercreek Realty Group
Listed By:
Jacob Blewett · License #4071649
(208) 781-1523
Source:
Bktidaho
Added: Jul 24
Changed: Oct 5
Last Checked: Oct 15 at 12:06AM
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 multifamily property offers 1,442 square feet of space and was originally built in 1992. Interior improvements were completed in 2025, providing a recently refreshed residential income asset with tenants already in place under lease through December 2026.
The property is located at 1889 Pilgrim Ave in Boise, Idaho, with access to shopping centers, dining, and major transportation routes. Showings require 48-hour notice.
The property is located at 1889 Pilgrim Ave in Boise, Idaho, with access to shopping centers, dining, and major transportation routes. Showings require 48-hour notice.
Key Highlights
- 1,442‑square‑foot multifamily property
- Interior remodeling completed in 2025
- Tenants are in place under lease through December 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,156
Cap Rate
3.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$303,120
$303.1K
Cap Rate 7%
$216,514
$216.5K
Cap Rate 9%
$168,400
$168.4K
Market Conditions
NOI Build-Up for 1,442 SF
Gross rent
$27.9K $19.32/SF
− Vacancy
−$304 −$0.21/SF
EGI
$27.6K $19.11/SF
− OpEx
−$12.4K −$8.60/SF
NOI
$15.2K $10.51/SF
Area
Ada County, ID
Vacancy
1.09%
Lease Rate
$19.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$303,120
Cap Rate 7%
$216,514
Cap Rate 9%
$168,400
Alternative Uses
Best Use
Apartment 5plus
$216.5K
$189.5K – $252.6K
NOI $15,156 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$398.2K
$348.5K – $464.6K
NOI $27,877 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
659
Businesses Nearby
Explore this area
Business Placement
Demographics for 83704, ID
42,430
Population
17,776
Households
2.4
Avg Household Size
37
Median Age
32%
College-Educated
92%
High-School Grad
8.8 sq mi
ZIP Area
4,822
Density / Sq Mi
$70,806
Median Household Income
$37,201
Median Earnings
$1,363
Median Rent
$354,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Occupied rental asset with updated interiors and an existing lease extending through December 2026.
Where is this multifamily property located?
The property is located at 1889 Pilgrim Ave Boise, ID.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 1,442‑square‑foot multifamily property; Interior remodeling completed in 2025; Tenants are in place under lease through December 2026
