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    Townhouse-Style 4-Plex Apartment Buildings Title is generated by Realmo AI

    4800 W Richardson Street, Boise, ID 83705

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    For Sale
    $2,700,000

    Townhouse-style 4-plex complex with 12 units across three parcels, featuring updated interiors, private backyards, and on-site storage.

    Type:Income
    Property size:
    13,254 SF
    Price / SF:
    $203/SF
    Added:
    Jun 3, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 6 at 4:15 am

    Property Features for 4800 W Richardson Street

    General Information

    Standard status
    Active
    Size
    13,254 SF
    Property subtype
    Income

    Building Details

    Year Built
    1973

    We can help!

    Listing Contact
    Savanah Goodman

    Listing agent Savanah Goodman

    Listing office Amherst Madison

    Listing date Jun 3, 2026

    Source Homesofidaho

    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 Amherst Madison

    HighLights

    • Townhouse‑style 4‑plex complex with 12 total units across three separate parcels
    • 36 bedrooms and 16 total baths; 13,254 total building area
    • No HOA dues; consistently rented with low vacancy
    • Significant renovations including updated kitchens and bathrooms, flooring, paint, doors, and fixtures
    • Washer/dryer hookups in all units; heating and air conditioning available
    • On‑site parking and carports; partial fencing; private backyards and storage on site

    Overview

    This Boise Bench townhouse-style multifamily property consists of three separate parcels, each improved with four-plex townhouses, for a total of 12 units and 36 bedrooms. The offering includes parcels at 4800, 4806, and 4812 W Richardson Street, along with three additional parcels that make up common areas. The units include private backyards and storage on site. Renovations have been completed throughout, with updated kitchens and bathrooms and improvements including new flooring, paint, doors, and fixtures. Kitchen features noted in the information include granite counters, knotty hickory cabinets, and appliances such as a refrigerator, stove, dishwasher, and microwave.

    The complex is described as being located on the Boise Bench, approximately 2 miles from Boise State (about 7 minutes) and 3.9 miles from the Boise Airport (about 13 minutes). It is noted as being conveniently positioned between Morris Hill Park and Cassisa Park. The property is also described as consistently rented with low vacancy, and the information states there are no HOA dues.

    For investors or operators seeking a townhouse-style 12-unit configuration, this property offers diversified unit count within a multi-parcel setup. The information also notes long-term flexibility to sell the 4-plexes individually, which may appeal to buyers looking for phased exit options or targeted acquisitions.

    Local Financial Insights For Apartment 5plus

    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 $256.1k $19.32
    − Vacancy −$2.8k −$0.21
    EGI $253.3k $19.11
    − OpEx −$114.0k −$8.60
    NOI $139.3k $10.51
    13,254 SF · lease $19.32/SF/yr · vacancy 1.09% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $1.99M
    $1.74M – $2.32M (±1% cap)
    NOI $139,302 @ 7.0% cap · market cap 5.16%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $3.66M
    $3.20M – $4.27M (±1% cap)
    NOI $256,226 @ 7.0% cap · market cap 9.49%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Boise
    County
    Ada
    State
    Idaho
    Longitude
    -116.2411316
    Latitude
    43.6038662

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    FAQs

    What type of property is this?
    Apartment building - Townhouse-style 4-plex complex with 12 units across three parcels, featuring updated interiors, private backyards, and on-site storage.
    Where is this apartment building located?
    The property is located at 4800 W Richardson Street Boise, ID.
    What is the asking price?
    The asking price for this property is $2,700,000.
    What are key features of this property?
    This property features: Townhouse‑style 4‑plex complex with 12 total units across three separate parcels; 36 bedrooms and 16 total baths; 13,254 total building area; No HOA dues; consistently rented with low vacancy
    (208) 860-9153
    We can help!
    Listing Contact
    Savanah Goodman
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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