For Sale
$2,449,000

722 Franklin StBoise, ID 83702

Seven-unit turnkey short-term rental, prime location.

Overview

Added:
Dec 11, 2024
Days on market:
116
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.

Highlights

  • 7-unit apartment building in Boise, ID, located at 722 W. Franklin St.
  • Class A property, 5,029 sq ft on a 0.29-acre lot, built in 1890, extensively renovated in 1929 & 2023.
  • Seven fully furnished apartments, ideal for short-term rentals.
  • Recent renovations include new systems (electrical, plumbing), updated flooring & kitchens, and exterior improvements (landscaping, parking).
  • Zoned MX1, prime location near downtown Boise, State Capitol, and amenities.
  • Asking price: $2,449,000 ($349,857.14/unit, $486.98/sq ft), NOI: $136,762 (5.58% cap rate).

Property Details for 722 Franklin St

Property type
Apartment buildings
Square Feet
5,029 SF
Class
A
Year Built
1890
Buildings
1
Stories
2
Lot Size (sq. ft)
12,632 SF
Units
7

Location Insight

City
Boise
County
Ada
State
Idaho
Latitude
43.620077834176
Longitude
-116.19885300574
722 Franklin St, Boise, Idaho

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722 Franklin St
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