Five-Unit Apartment
For Sale
$798,000
401 N 19th St, Boise, ID 83702
Residential Income, Boise, ID
Property Size2,907 SF
Lot Size0.15 Acres
Price / SF$274.51
Days on Market49
Property Features for 401 N 19th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 4, Bedroom 5, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 3, Bathroom 5, Bedroom 3, Bedroom 2
Fireplace
1
Appliances
Disposal (No Units), Stove/Range (All Units), Refrigerator (All Units)
Subdivision
0 Not Applic.
Lot features
Standard Lot 6000-9999 S F
Elementary school
Whittier
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
On the NW corner of Jefferson St & 19th St
Standard status
Active
APN
R7150472785
Size
2,907 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
See Attached Exhibit A
Tax Annual Amount
6937
Legal Description
See Attached Exhibit A
Utilities
Heating system
Fireplace(s), Baseboard, Ductless (Heating)
Cooling system
Wall/Window Unit(s), Zoned, Ductless, Window Unit(s)
Amenities
shared yard
Building Details
Year built
1900
Number of units
5
Flooring type
Laminate
Building materials
Brick
Roof type
Composition
Listing Agency:
Keller Williams Realty Boise
(208) 672-9000
Listed By:
Lysi Bishop · License #SP20072
(208) 870-8292
Added: Jul 27
Changed: Sep 12
Last Checked: Sep 13 at 7:06PM
MLS# 98995421
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.
Located at 401 N 19th St in Boise’s North End, this 2,907-square-foot apartment property contains five one-bedroom, one-bath residences. The unit arrangement includes one main-level home, one lower-level apartment, and three upper-level residences. The building dates to 1900 and features brick construction, composition roofing, fireplaces, baseboard and ductless heating, and window, wall/window, and ductless cooling systems.
Set on a 0.15-acre corner lot, the property provides off-street parking and a shared yard. The location is near downtown Boise, Hyde Park, Camel’s Back, the river, Greenbelt, parks, trails, shopping, dining, recreation, and cultural amenities. Appliances include stoves/ranges and refrigerators in all units, along with disposals.
Set on a 0.15-acre corner lot, the property provides off-street parking and a shared yard. The location is near downtown Boise, Hyde Park, Camel’s Back, the river, Greenbelt, parks, trails, shopping, dining, recreation, and cultural amenities. Appliances include stoves/ranges and refrigerators in all units, along with disposals.
Key Highlights
- Five 1‑bed, 1‑bath apartment units
- 2,907 square feet on a 0.15‑acre corner lot
- Brick building constructed in 1900
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
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Open 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
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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?
Apartment building - Brick multifamily property with off-street parking, shared yard, and a mix of main-level, lower-level, and upper-level residences.
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 apartment units; 2,907 square feet on a 0.15‑acre corner lot; Brick building constructed in 1900
