208-440-2486
5713 Garrett St, Boise, ID for Sale
Apartments - FOR SALE
1/21
null | Request Cap Rate

5713 Garrett St
Boise, ID 83714


HIGHLIGHTS

  • Major Area Employment Demand
  • Substantial Value-Add Runway
  • Supply Compression – Demand Increasing
  • Garden City – Primed for Growth

OVERVIEW

Berkadia Boise is pleased to present Boulder Creek Apartments, a 136-unit community located in Boise, ID. Built in 1978, the property offers one- and two-bedroom floor plans with select renovated units, and benefits from exceptional access to nearby retail, dining, and recreational amenities. Boulder Creek sits northwest of downtown Boise in Garden City, near the Boise River, offering residents unbeatable access to the 25-mile River Greenbelt, Veterans Memorial Park, and the Boise Whitewater Park. The Garden City submarket of Boise is attracting significant private and public capital, most notably the recently completed AC Boise soccer complex, which brings Idaho's first professional men's and women's soccer franchises to the area, alongside ongoing urban renewal investment that continues to elevate Garden City's profile among residents and investors alike. Boulder Creek has demonstrated strong tenant demand, currently operating at 96% occupancy. Select units have been fully renovated and are commanding recent rent premiums in excess of $150 per month over classic units, validating the renovation thesis. New investors have the opportunity to build on this foundation, with remaining unrenovated units representing approximately $229,200 in additional annual gross potential rent. The property features an outdoor pool, on-site laundry, mature landscaping, enclosed dog parks, and outdoor kitchen areas for residents to experience a community focused lifestyle. Positioned along Highway 26 (Chinden Blvd), Boulder Creek offers convenient access to Downtown Boise and the North Meridian/Eagle corridor, appealing to young professionals and families seeking affordability in one of the Treasure Valley's fastest-growing locations.

FOR SALE DETAILS

PRICE

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# OF UNITS

136

CAP RATE

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% LEASED

98%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Boulder Creek

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1978

PARKING SPACES

252

LAND DETAILS

LAND ACRES

7.18 AC

LAND SF

312,761 SF

ZONING

R-20

APN/PARCEL ID

S0526131330

ASK ABOUT THIS PROPERTY

Clay AndersonBerkadia Real Estate AdvisorsMore Info
208-440-2486

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Clay AndersonBerkadia Real Estate AdvisorsMore Info
208-440-2486

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.