Berkadia is pleased to present Five Mile Crossing Townhomes, a 15-unit townhome community built in 2021 in West Boise. Every unit is a 1,131 SF two-story, two-bed townhome with 2.5 baths, in-unit washer/dryer, patio, and storage closet. The property is 100% occupied with no deferred maintenance.
In-place rents average $1,629, below market, and 60% of the leases are month-to-month or expire within 90 days, giving a new owner can reset the majority of the rent roll in the first quarter of ownership. No utility billback is in place today; adding RUBS recovers approximately $13,300 per year.
The 1.31-acre parcel also carries a building site previously approved for seven additional units, where a 1,589 SF single-family house (renovated 2023, currently vacant) that last leased at $2,200/month.