9557 State St Garden City, ID 83714

This exceptional 44-unit apartment building, known as Sleepy Hollow, presents a compelling investment opportunity in Boise, Idaho. Built in 2022, this Class B property boasts 69,378 square feet and is situated at 9557 W State St, Garden City, ID 83714, offering convenient access to downtown Boise, Walmart, Northgate and Glenwood Shopping Centers, and new retail developments. The property features four three-story buildings, each unit including a legally assigned one-car garage. Each of the 44 units offers ample storage, including an extra-large pantry, large linen closet, coat closet, master suite walk-in closet, and storage above the washer and dryer. Units showcase sleek design elements such as beautiful flooring, sparkling white quartz countertops, and stainless steel appliances with water/ice dispensers. Residents also enjoy access to an on-site office with a small fitness center. A completed condo overlay allows for individual unit sales. An established HOA exists but is not currently in use due to the property's operation as an apartment complex. The asking price is $15,250,000, representing a price per unit of $346,591 and a price per square foot of $219.81. The property exhibits a 4.47% cap rate and a pro-forma NOI of $681,201. This well-maintained complex offers a strong potential for both immediate and long-term returns.