Updated Multifamily
For Sale
$649,900
7940 W Galena Drive, Boise, ID 83709
MULTI_FAMILY - Boise, ID
Property Size2,576 SF
Lot Size0.20 Acres
Price / SF$252.29
Days on Market30
Property Features for 7940 W Galena Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 1, Bedroom 5, Bedroom 2, Bathroom 3, Bedroom 6, Bathroom 2
Parking
6
Parking features
RV, Driveway
Appliances
Disposal (All Units), Stove/Range (All Units), Refrigerator (All Units)
Subdivision
Jackson Manor S
Lot features
Standard Lot 6000-9999 S F, R. V. Parking, Sidewalks
Elementary school
Grace Jordan
Middle school
West Boise Jr
High school
Borah
Elementary school district
Boise School District #1
Middle school district
Boise School District #1
High school district
Boise School District #1
Directions
S Cole Rd, W McMullen, N Galena
Standard status
Active
APN
R4548530270
Size
2,576 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 33 BLK 5 JACKSON MANOR SUB NO 4
Tax Annual Amount
3753
Legal Description
LOT 33 BLK 5 JACKSON MANOR SUB NO 4
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Amenities
RV parking with power
whole-home water filtration
finished basement
Building Details
Year built
1971
Number of units
1
Building materials
Brick, Frame, Wood Siding
Roof type
Composition
Listing Agency:
Homes of Idaho
(208) 442-8500
Listed By:
Rita O'brien · License #SP41518
(208) 921-9779
Added: Jul 16
Changed: Aug 13
Last Checked: Aug 14 at 2:06AM
MLS# 98996099
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 2,576-square-foot multifamily property was built in 1971 on a 0.2-acre lot and offers a six-bedroom, three-bathroom configuration. The finished basement includes a family room, two bedrooms, a full bathroom, oversized finished laundry room, storage rooms, and additional space for an office, den, or bedroom. A remodeled kitchen provides stainless steel appliances, an island, soft-close cabinetry, pantry, and expanded preparation space. Updates include remodeled bathrooms, new flooring, interior and exterior paint, plumbing and electrical improvements, newer HVAC, a newer water heater, and whole-home water filtration.
The property includes RV parking with power and a driveway. Construction features brick, frame, and wood siding, with forced-air natural gas heat, central air, and a composition roof. The property is located in Boise near Downtown Boise, Micron, the airport, shopping, dining, and I-84. The layout also includes potential for a detached ADU structure.
The property includes RV parking with power and a driveway. Construction features brick, frame, and wood siding, with forced-air natural gas heat, central air, and a composition roof. The property is located in Boise near Downtown Boise, Micron, the airport, shopping, dining, and I-84. The layout also includes potential for a detached ADU structure.
Key Highlights
- 2,576 square feet on a 0.2‑acre lot
- Six bedrooms and three bathrooms, including a finished basement
- Finished basement with family room, laundry room, storage, and flexible additional space
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
$27,074
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
4.17%
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%
$541,480
$541.5K
Cap Rate 7%
$386,771
$386.8K
Cap Rate 9%
$300,822
$300.8K
Market Conditions
NOI Build-Up for 2,576 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
$49.8K $19.32/SF
− Vacancy
−$542 −$0.21/SF
EGI
$49.2K $19.11/SF
− OpEx
−$22.2K −$8.60/SF
NOI
$27.1K $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%
$541,480
Cap Rate 7%
$386,771
Cap Rate 9%
$300,822
Alternative Uses
Best Use
Apartment 5plus
$386.8K
$338.4K – $451.2K
NOI $27,074 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$711.4K
$622.5K – $830.0K
NOI $49,799 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
845
Businesses Nearby
Explore this area
Business Placement
Demographics for 83709, ID
59,461
Population
22,262
Households
2.7
Avg Household Size
38
Median Age
37%
College-Educated
96%
High-School Grad
33.7 sq mi
ZIP Area
1,764
Density / Sq Mi
$88,893
Median Household Income
$48,981
Median Earnings
$1,743
Median Rent
$440,700
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?
Multifamily property - Flexible six-bedroom layout with a finished basement, RV parking with power, and extensive interior and exterior improvements.
Where is this multifamily property located?
The property is located at 7940 W Galena Drive Boise, ID.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: 2,576 square feet on a 0.2‑acre lot; Six bedrooms and three bathrooms, including a finished basement; Finished basement with family room, laundry room, storage, and flexible additional space
