5102 State St Boise, ID 83703
- Apartment buildings
- 32,624 SF
- 1.78 lot acres
Current Use by Public Records
- Haven on State / Apartment Complex
Property Details for 5102 State St
- Year built
- 2024
- Lot size
- 1.78 lot acres
- Property size
- 32,624 SF
- Property type
- Apartment buildings
Description
This exceptional Class A apartment building, Haven on State, presents a compelling investment opportunity in Boise, Idaho. Completed in 2024, this new construction boasts 48 units across 32,624 square feet, situated on a 1.78-acre lot. Each unit features a modern, open-concept design, complete with personal balconies and full-size appliances, including a washer and dryer. The building's prime location at 5102 W State St, Boise, ID 83703, offers excellent visibility along a major arterial road connecting Downtown Boise and Eagle. Residents enjoy convenient access to Lake Harbor and Boise's Greenbelt, enhancing the property's desirability. The asking price is $12,000,000, representing a price per unit of $250,000 and a projected 5.17% cap rate upon stabilization, targeted for Q1 2025. Ample parking is available on-site. The property is zoned MX-4, providing flexibility for future development. This is a rare opportunity to acquire a high-quality, newly constructed multifamily asset in a rapidly growing market, offering strong potential for long-term appreciation and cash flow. The building's contemporary design and modern finishes cater to today's discerning renters, ensuring high occupancy rates. Invest in a property that combines prime location, modern amenities, and strong projected returns.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Boise
- County
- Ada
- State
- Idaho
- Longitude
- -116.252
- Latitude
- 43.6523
