Four-Unit Multifamily
New
For Sale
$875,000
4480 N Kitsap Way, Boise, ID 83703
Residential Income, Boise, ID
Property Size2,729 SF
Lot Size0.51 Acres
Price / SF$320.63
Days on Market3
Property Features for 4480 N Kitsap Way
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bathroom 3, Bathroom 4, Bedroom 3, Bedroom 2, Bedroom 5, Bathroom 1, Bathroom 2, Bedroom 1
Parking
8
Parking features
RV
Fireplace
1
Appliances
Disposal (Some Units), Stove/Range (Some Units), Refrigerator (No Units), Washer/Dryer (Some Units)
Subdivision
0 Not Applic.
Lot features
1/2 - .99 Acre, Garden, R. V. Parking
Elementary school
Collister
Middle school
Hillside
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
N on Harrison Blvd, L Hill Rd past the 36th Street round about, R Kitsap Way
Standard status
Active
APN
S0629120635
Size
2,729 SF
Lot size
0.51 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
See Attached Exhibit A
Tax Annual Amount
5862
Legal Description
See Attached Exhibit A
Utilities
Heating system
Hot Water(Heating), Baseboard, Forced Air, Fireplace(s), Radiant
Cooling system
Wall/Window Unit(s), Window Unit(s)
Building Details
Year built
1954
Number of units
4
Flooring type
Laminate
Building materials
Log
Roof type
Tar/Gravel
Listing Agency:
Keller Williams Realty Boise
(208) 672-9000
Listed By:
Lysi Bishop · License #SP20072
(208) 870-8292
Added: Oct 8
Last Checked: Oct 10 at 9:06AM
MLS# 99003202
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.
This 2,729-square-foot multifamily property on 0.51 acres contains four units. The mix includes a two-bedroom main-level residence, a studio, and an upper-level two-bedroom, two-bath unit that can be divided using its private lock-off. Flat rooflines, stone fireplaces, log-beamed ceilings, and prominent windows reflect the building’s mid-century design. Built in 1954, it received 2011 updates to the roof, windows, plumbing, electrical systems, radiant floors, and kitchen.
The property is in Boise, minutes from downtown, Hyde Park, and the North End. A connection to City Water is scheduled for 2026. The existing layout supports continued operation as separate rental units, including short-term rentals, or use as an inn, as described for the property.
The property is in Boise, minutes from downtown, Hyde Park, and the North End. A connection to City Water is scheduled for 2026. The existing layout supports continued operation as separate rental units, including short-term rentals, or use as an inn, as described for the property.
Key Highlights
- Four units across 2,729 square feet on a 0.51‑acre parcel
- Unit mix includes a two‑bedroom main‑level residence, studio, and upper‑level two‑bedroom, two‑bath unit
- Upper‑level unit has a private lock‑off and can be split into two units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,894
Cap Rate
3.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$657,880
$657.9K
Cap Rate 7%
$469,914
$469.9K
Cap Rate 9%
$365,489
$365.5K
Market Conditions
NOI Build-Up for 2,729 SF
Gross rent
$47.5K $17.40/SF
− Vacancy
−$494 −$0.18/SF
EGI
$47.0K $17.22/SF
− OpEx
−$14.1K −$5.17/SF
NOI
$32.9K $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 Rate 5%
$657,880
Cap Rate 7%
$469,914
Cap Rate 9%
$365,489
Alternative Uses
Best Use
Multifamily LT 5
$469.9K
$411.2K – $548.2K
NOI $32,894 @ 7.0% cap · market cap 3.76%
Second Best
Apartment 5plus
$409.7K
$358.5K – $478.0K
NOI $28,682 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$753.7K
$659.5K – $879.3K
NOI $52,757 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
183
Businesses Nearby
Explore this area
Business Placement
Demographics for 83703, ID
18,163
Population
7,971
Households
2.3
Avg Household Size
40
Median Age
54%
College-Educated
97%
High-School Grad
8.1 sq mi
ZIP Area
2,242
Density / Sq Mi
$74,415
Median Household Income
$41,938
Median Earnings
$1,336
Median Rent
$477,000
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?
Quadplex - Four distinct living spaces include two-bedroom layouts, a studio, and an upper-level configuration with a private lock-off.
Where is this quadplex located?
The property is located at 4480 N Kitsap Way Boise, ID.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Four units across 2,729 square feet on a 0.51‑acre parcel; Unit mix includes a two‑bedroom main‑level residence, studio, and upper‑level two‑bedroom, two‑bath unit; Upper‑level unit has a private lock‑off and can be split into two units
