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235 E Warm Springs Ave
Boise, ID 83712
Multifamily Property For Sale
·
5 Units
Investment Highlights
- Classic 5 unit multifamily on iconic Warm Springs Avenue with East End character and rare small scale density.
- Prime walkable location near downtown, BSU, St. Luke’s, the Greenbelt, parks, and shopping, ideal for both visitors and long term tenants.
- Long and short term rentals are fully managed by a 3rd party property management company.
- Easy 4 unit conversion by adding a door between Apartments 1 and 2, unlocking potential 4 plex financing benefits.
- Flexible income profile historically rented as 3 short term Airbnb rentals plus 2 long term units, diversifying cash flow and smoothing seasonality.
- High demand location creates strong renter and guest pull, with an excellent opportunity to target traveling nurses, hospital staff, and Airbnb guests
Executive Summary
235 Warm Springs Avenue is a classic five unit multifamily investment located along Boise’s iconic Warm Springs Avenue, featuring three short term rentals and two long term rental units. Offered at $850,000, the property generated a 2025 net operating income of $46,153, reflecting a 5.43 percent cap rate. All five apartments, the building exterior, and the parking area have been renovated within the past seven years. The property also offers an easy conversion to four units by connecting Apartments 1 and 2, which may provide access to beneficial fourplex financing. Its walkable East End location near Downtown Boise, Boise State University, St. Luke’s, the Greenbelt, parks, and shopping supports continued demand from visitors and long term tenants.
Property Facts
| Price Per Unit | $170,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.10 AC |
| Cap Rate | 5.43% | Building Size | 1,852 SF |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | Parking Ratio | 2.7/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-3HD | ||
| Price Per Unit | $170,000 |
| Sale Type | Investment |
| Cap Rate | 5.43% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 1,852 SF |
| No. Stories | 2 |
| Year Built | 1900 |
| Parking Ratio | 2.7/1,000 SF |
| Zoning | R-3HD |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Online Services
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 5 | - | - |
Property Taxes
| Parcel Number | S1011325670 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $760,800 |
Property Taxes
Parcel Number
S1011325670
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$760,800
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