722 Franklin StBoise, ID 83702
- Other commercial real estate
- 3,982 SF
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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