8-Unit Apartment
For Sale
$1,700,000
Pending
9212 W Brogan Dr, Boise, ID 83709
Multifamily property with association-managed exterior maintenance in South Boise.
Property Size9,424 SF
Days on Market106
Property Features for 9212 W Brogan Dr
General Information
Standard status
Pending
Size
9,424 SF
Property subtype
Residential Income
Additional Details
Cap Rate
5.7%
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$5,926
Listing Agency:
re/max advisors
(208) 375-9700
Listed By:
Darrin Jaszkowiak · License #DB17849
(208) 375-9700
Source:
Exprealty
Added: May 19
Changed: Aug 30
Last Checked: Aug 31 at 6:44PM
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 re/max advisors
Investment Insights
Based on property information with market context.
This 8-unit apartment property comprises two 4-plex buildings with a combined 9,424 square feet. The units are described as two-bedroom, two-bath residences, although the source information also references a different unit configuration; that detail is therefore not included here. Exterior upkeep is handled by the owners’ association, reducing the owner’s direct maintenance responsibilities. The property has a stable rent history and is positioned among established single-family residences in South Boise. Schools, parks, and area amenities are identified nearby. A separate 8-unit building is also available, providing an additional multifamily offering associated with the property marketing.
Key Highlights
- 8‑unit multifamily property arranged as two 4‑plex buildings
- Combined property size of 9,424 square feet
- Exterior maintenance handled by the owners’ association
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
$99,048
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
5.83%
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%
$1,980,960
$2.0M
Cap Rate 7%
$1,414,971
$1.4M
Cap Rate 9%
$1,100,533
$1.1M
Market Conditions
NOI Build-Up for 9,424 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
$182.1K $19.32/SF
− Vacancy
−$2.0K −$0.21/SF
EGI
$180.1K $19.11/SF
− OpEx
−$81.0K −$8.60/SF
NOI
$99.0K $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%
$1,980,960
Cap Rate 7%
$1,414,971
Cap Rate 9%
$1,100,533
Alternative Uses
Best Use
Apartment 5plus
$1.41M
$1.24M – $1.65M
NOI $99,048 @ 7.0% cap · market cap 5.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.60M
$2.28M – $3.04M
NOI $182,185 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
151
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?
Apartment building - Multifamily property with association-managed exterior maintenance in South Boise.
Where is this apartment building located?
The property is located at 9212 W Brogan Dr Boise, ID.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 8‑unit multifamily property arranged as two 4‑plex buildings; Combined property size of 9,424 square feet; Exterior maintenance handled by the owners’ association
