Four-Unit Residential
New
For Sale
$999,900
2506 W Woodlawn Ave, Boise, ID 83702
Four occupied residences are leased, with off-street parking serving the property.
Property Size3,447 SF
Price / SF$290.08
Days on Market5
Property Features for 2506 W Woodlawn Ave
General Information
Standard status
Active
Size
3,447 SF
Property subtype
Quadruplex
Occupancy
100%
Additional Details
Multifamily Units
4
Amenities
Lot Features: Standard Lot 6000-9999 SF, Sidewalks, Lot Size Acres: 0.14, Lot Size Area: 0.14, Lot Size Square Feet: 6098.4, Lot Size Units: Acres
Fencing: Full
Tax Annual Amount: 10876.62, Tax Legal Description: LOT 11 BLK 9 PLEASANTON ADD, Tax Year: 2025
Covered Spaces: 1, Garage Spaces: 1, Garage YN: t
Cooling: Wall/Window Unit(s), All Units, Cooling YN: t
Heating: Baseboard, Natural Gas, Heating YN: t
Laundry Features: Washer/Dryer Hookups (Some Units)
Listing Id: 99002456, Listing Service: Full Service, Listing Terms: Cash, Conventional, List Price: 999900, Mls Status: Active, Number Of Units Total: 4, Standard Status: Active, Total Actual Rent: 5822
Parking Features: One Car, Detached, Parking Total: 1
Elementary School: Whittier, Elementary School District: Boise School District #1, High School: Boise, High School District: Boise School District #1, Middle Or Junior School: North Jr, Middle Or Junior School District: Boise School District #1
Bedrooms Total: 6
Above Grade Finished Area Units: Square Feet, Below Grade Finished Area Units: Square Feet, Building Area Total: 3447, Building Area Units: Square Feet, Construction Materials: Concrete, Frame, Living Area: 3447, Living Area Units: Square Feet, Year Built: 1910
City: Boise, Longitude: -116.221502, Coordinates: -116.221502, 43.627401, Country: US, County Or Parish: Ada, Directions: From State Street, go S on 27th St, E on Woodlawn AV, Latitude: 43.627401, Postal Code: 83702, State Or Province: ID, Street Dir Prefix: W, Street Name: Woodlawn Ave, Street Number: 2506, Street Number Numeric: 2506, Subdivision Name: Pleasant Place Addition, Unparsed Address: 2506 W Woodlawn Ave, Boise ID 83702
Current Use: Single Family, 2-4 Units, Farm Land Area Units: Square Feet, Leasable Area Units: Square Feet, Parcel Number: R7104001190, Property Sub Type: Quadruplex, Property Type: Residential Income
Bathrooms Total Integer: 5
Utilities: Sewer Connected
Irrigation Source: Irrigation District: Yes, Boise City Canal, Water Source: City Service
Appliances: Disposal (Some Units), Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (Some Units)
Building Details
Year Built
1910
Tenancy
Multi
Listing Agency:
Keller Williams Realty Boise
(208) 672-9000
Listed By:
Rebekah Mckernan · License #SP41777
(208) 353-5811
Source:
Thgboise
Added: Oct 1
Changed: Oct 4
Last Checked: Oct 4 at 10:19AM
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 Keller Williams Realty Boise
Investment Insights
Based on property information with market context.
This Boise quadplex contains four units totaling approximately 3,447 square feet. Individual unit sizes range from approximately 1,050 to 1,755 square feet, and the building dates to 1910. Off-street parking is available for residents.
All four units are occupied, with leases in place. Showings require 24 hours’ notice.
All four units are occupied, with leases in place. Showings require 24 hours’ notice.
Key Highlights
- Four units totaling approximately 3,447 square feet
- Unit sizes range from approximately 1,050 to 1,755 square feet
- All four units occupied with leases in place
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
$41,548
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
4.16%
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%
$830,960
$831.0K
Cap Rate 7%
$593,543
$593.5K
Cap Rate 9%
$461,644
$461.6K
Market Conditions
NOI Build-Up for 3,447 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
$60.0K $17.40/SF
− Vacancy
−$624 −$0.18/SF
EGI
$59.4K $17.22/SF
− OpEx
−$17.8K −$5.17/SF
NOI
$41.5K $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%
$830,960
Cap Rate 7%
$593,543
Cap Rate 9%
$461,644
Alternative Uses
Best Use
Multifamily LT 5
$593.5K
$519.4K – $692.5K
NOI $41,548 @ 7.0% cap · market cap 4.16%
Second Best
Apartment 5plus
$517.6K
$452.9K – $603.8K
NOI $36,229 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$952.0K
$833.0K – $1.11M
NOI $66,637 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,188
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied residences are leased, with off-street parking serving the property.
Where is this quadplex located?
The property is located at 2506 W Woodlawn Ave Boise, ID.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Four units totaling approximately 3,447 square feet; Unit sizes range from approximately 1,050 to 1,755 square feet; All four units occupied with leases in place
