722 Franklin StBoise, ID 83702

  • Other commercial real estate
  • 3,982 SF
For Sale
$2,449,000 View listing

Property Details for 722 Franklin St

Year built
1880
Lot size
0.28 AC
Property size (Sq ft)
3,982 SF
Zone code
L-OHD/CD
Property type
Other 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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $629,750
    Hospitality
    $576,848
    Educational
    $479,931
    Medical
    $496,436
    Retail
    $746,559
722 Franklin St, Boise, Idaho

Location Insight

City
Boise
County
Ada
State
Idaho
Latitude
43.6203
Longitude
-116.199
CBSA code
14260
CBSA name
BOISE CITY-NAMPA, ID METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$9,126
$561,100
$576,700
$1,137,800
-
$561,100
$576,700
$1,137,800

FAQs

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