5102 State StBoise, ID 83703

Property Details for 5102 State St

Year built

2024

Lot size

1.78 AC

Property size (Sq ft)

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.

Location Insight

City

Boise

County

Ada

State

Idaho

Latitude

43.6523

Longitude

-116.252

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