Five-Unit Apartment
For Sale
$798,000
401 N 19th St, Boise, ID 83702
Corner-lot property with off-street parking and a shared yard near downtown Boise.
Property Size2,907 SF
Price / SF$274.51
Days on Market15
Property Features for 401 N 19th St
General Information
Standard status
Active
Size
2,907 SF
Property subtype
Residential Income
Units
Unit Mix
5 x 1BR/1BA
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$6,937
Amenities
shared yard
Listing Agency:
Keller Williams Realty Boise
(208) 870-8292
Listed By:
Lysi Bishop · License #SP20072
(208) 870-8292
Source:
Exprealty
Added: Jul 27
Changed: Aug 8
Last Checked: Aug 9 at 9:45AM
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 2,907-square-foot apartment property contains five one-bedroom, one-bath residences. The layout includes one larger main-level home, one lower-level apartment, and three upper-level units. Interior details include original hardwood floors, natural light, white finishes, and architectural character. A shared yard and off-street parking serve the residents.
The property is located in Boise’s North End near downtown, parks, shopping, dining, recreation, cultural amenities, the River, Greenbelt, and trails. Hyde Park and Camel’s Back are also nearby. Its corner-lot setting adds outdoor space and convenient parking to the five-unit configuration.
The property is located in Boise’s North End near downtown, parks, shopping, dining, recreation, cultural amenities, the River, Greenbelt, and trails. Hyde Park and Camel’s Back are also nearby. Its corner-lot setting adds outdoor space and convenient parking to the five-unit configuration.
Key Highlights
- Five 1‑bed, 1‑bath residences totaling 2,907 square feet
- North End Boise location near downtown, Hyde Park, Camel’s Back, and the River
- Unit mix includes 1 main‑level, 1 lower‑level, and 3 upper‑level residences
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
$30,553
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
3.83%
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%
$611,060
$611.1K
Cap Rate 7%
$436,471
$436.5K
Cap Rate 9%
$339,478
$339.5K
Market Conditions
NOI Build-Up for 2,907 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
$56.2K $19.32/SF
− Vacancy
−$612 −$0.21/SF
EGI
$55.6K $19.11/SF
− OpEx
−$25.0K −$8.60/SF
NOI
$30.6K $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 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%
$611,060
Cap Rate 7%
$436,471
Cap Rate 9%
$339,478
Alternative Uses
Best Use
Apartment 5plus
$436.5K
$381.9K – $509.2K
NOI $30,553 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$802.8K
$702.5K – $936.6K
NOI $56,198 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
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?
Apartment building - Corner-lot property with off-street parking and a shared yard near downtown Boise.
Where is this apartment building located?
The property is located at 401 N 19th St Boise, ID.
What is the asking price?
The asking price for this property is $798,000.
What are key features of this property?
This property features: Five 1‑bed, 1‑bath residences totaling 2,907 square feet; North End Boise location near downtown, Hyde Park, Camel’s Back, and the River; Unit mix includes 1 main‑level, 1 lower‑level, and 3 upper‑level residences
