Renovated Detached Triplex
2114 South Stephen Avenue Boise, ID 83706
2114 South Stephen Avenue, Boise, ID, 83706
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For Sale
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Renovations include new roofs, windows, and updated electrical across all three homes, with new plumbing and tankless heaters in two units.
Property Size2,611 SF
Price / SF$354.27
Days on Market70
Property Features for 2114 South Stephen Avenue
General Information
- Standard status
- Active
- Size
- 2,611 SF
- Property subtype
- Retail, Multifamily
Building Details
- Year Built
- 1930
Listed by
Danielle Costa · License #SP49131
Source
Crexi
Added: May 13 Updated: Jul 21 at 2:43PM Checked: Jul 21 at 2:43PM
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 Danielle Costa
Investment Insights
Based on property information with market context.
This detached triplex is being renovated with mostly down-to-the-studs improvements designed to provide turn-key flexibility. All three single-family homes are scheduled for completion by the end of June and include brand new roofs and new windows, along with a complete electric system overhaul. Units 2118 and 2110 also have new plumbing throughout and each includes a new highly efficient electric tankless water heater.
Each home is planned with 1 parking stall, plus the ability to park on the street. The layout also includes private fenced-off backyard/barbecue areas for each home, along with a common green space shared across the cottage village. The property is positioned in East Boise with easy access to the Greenbelt, downtown, and BSU.
The seller notes the option to hold the property as a detached triplex or, following updated code, condo-convert and sell individually in the future.
Each home is planned with 1 parking stall, plus the ability to park on the street. The layout also includes private fenced-off backyard/barbecue areas for each home, along with a common green space shared across the cottage village. The property is positioned in East Boise with easy access to the Greenbelt, downtown, and BSU.
The seller notes the option to hold the property as a detached triplex or, following updated code, condo-convert and sell individually in the future.
Key Highlights
- Mostly down‑to‑the‑studs renovations on a 1930‑built detached triplex (scheduled completion end of June).
- All 3 single‑family homes have brand new roofs and all new windows.
- Complete electric system overhaul for all three homes.
Local 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 | $45.4k | $17.40 |
| − Vacancy | −$472 | −$0.18 |
| EGI | $45.0k | $17.22 |
| − OpEx | −$13.5k | −$5.17 |
| NOI | $31.5k | $12.05 |
2,611 SF · lease $17.40/SF/yr · vacancy 1.04% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$449.6K
$393.4K – $524.5K
NOI $31,471 @ 7.0% cap · market cap 3.40%
Second Best
Apartment 5plus
$392.0K
$343.0K – $457.4K
NOI $27,442 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$721.1K
$631.0K – $841.3K
NOI $50,476 @ 7.0% cap · market cap 5.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
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FAQs
What type of property is this?
Triplex - Renovations include new roofs, windows, and updated electrical across all three homes, with new plumbing and tankless heaters in two units.
Where is this triplex located?
The property is located at 2114 South Stephen Avenue Boise, ID.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Mostly down‑to‑the‑studs renovations on a 1930‑built detached triplex (scheduled completion end of June).; All 3 single‑family homes have brand new roofs and all new windows.; Complete electric system overhaul for all three homes.
