722 Franklin St Boise, ID 83702-5574

Property Details for 722 Franklin St

Year built

1880

Lot size

0.28 lot acres

Property size

3,982 SF

Zone code

L-OHD/CD

Property type

Commercial real estate

APN

R1013006080

APU

R1013006080

Description

This stunning 7-unit apartment building, located at 722 W. Franklin St., Boise, ID 83702, presents a unique investment opportunity. Built in 1890 and extensively renovated in 1929 and 2023, this Class A property boasts 5,029 square feet on a 0.29-acre lot. The property features seven fully furnished apartments, ideal for short-term rentals. Recent renovations include new electrical and plumbing systems, ductless mini-splits, updated radiator valves connected to geothermal heating (providing a dual heat source), new hardwood and marble weave tile flooring, newly tiled showers with glass doors, and updated kitchens with granite countertops, ducted range hoods, disposals, and stainless steel appliances. All windows and doors, along with their hardware, have been refurbished. Exterior improvements include new landscaping, irrigation, French drains, a wrought iron fence, brick pathways and entrances, a parking area (8 spaces), and a pond. The building is zoned MX1 and sits in a fantastic location, just two blocks from the state capitol, three blocks from downtown 8th Street, two blocks from the Boise Co-op, and one block from St. John's Cathedral. The asking price is $2,449,000, representing a price per unit of $349,857.14 and a price per square foot of $486.98. The property generates a Net Operating Income (NOI) of $136,762, resulting in a 5.58% cap rate. The property is subject to a ground lease.

Location Insight

City

Boise

County

Ada

State

Idaho

Longitude

-116.199

Latitude

43.6203

CBSA code

14260

CBSA name

BOISE CITY-NAMPA, ID METROPOLITAN STATISTICAL AREA

Property Tax & Assessments