Boulder Creek

Exclusive Multifamily Opportunity

5713 N Garrett St, Boise, ID 83714

OPPORTUNITY

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.

  • Address 5713 N Garrett St
  • City, State, Zip Boise, ID 83714
  • County Ada
  • Parcel Number(s) S0526131330
  • Zoning R-20 (Residential Med. Density)
  • Site Size/Acreage 7.81
  • Built1978
  • Units 136
  • Buildings 21
  • Stories 2
  • Rentable SF 102,272 SF
  • Average Unit SF 752
  • Average In-Place Rent$1,282
  • Average In-Place Rent/SF$1.70

INVESTMENT HIGHLIGHTS

Major Employment Demand: Boise employers are projected to add 9,100 net new jobs in 2026, anchored by Micron’s $15 billion semiconductor fab, Meta’s $800 million Kuna data center, and St. Luke’s $1.1 billion hospital expansion — all driving sustained household formation and renter demand in the urban core.

Supply Compression – Demand Increasing: After delivering 1,713 units in 2025 and over 3,500 at the 2024 peak, the metro is on pace for just 581 new units in all of 2026. Boulder Creek sits along a major downtown Boise commuting corridor and is well-positioned to capture strong rental demand as net absorption outpaces deliveries in the supply-constrained Boise core through 2026.

Substantial Value-Add Runway: With only 2 of 136 units renovated, Boulder Creek offers substantial runway. Renovated units already achieve a $120 monthly premium over classic condition, and a full renovation program is projected to increase gross potential rent by over $229K annually upon completion.

Garden City – Primed for Growth: Significant capital is flowing into Garden City, exemplified by the privately funded AC Boise soccer complex — Idaho’s first professional soccer stadium — which opened in Q1 2026 with a capacity of 7,050 seats and expansion capability to 11,000. Coupled with ongoing urban renewal initiatives, these investments reinforce Garden City’s trajectory as a highly desirable destination for residents and investor capital alike.

136

units

1978

Year Built

752

AVG SF

ASSET

Boulder Creek Apartments is a 136-unit garden-style community nestled in the heart of Garden City, Idaho — one of the Treasure Valley’s most rapidly evolving submarkets. The property offers a mix of one- and two-bedroom floor plans ranging from 560 to 832 square feet, with 134 units remaining in classic condition and two fully renovated units already demonstrating a proven $150 monthly rent premium.

Unit interiors feature wood-style flooring, fully equipped kitchens, solid surface counters, air conditioning, ceiling fans, private patios, and updated hardware and trim throughout. Community amenities are equally compelling — two dog parks, an outdoor pool, playground, outdoor kitchen, modern laundry facility, and assigned parking are set among mature landscaping that gives the property an established, livable feel. Residents also enjoy immediate access to Highway 26, placing downtown Boise and the Boise River Greenbelt within minutes of their front door.

VALUE-ADD OPPORTUNITY

Boulder Creek represents a compelling value-add opportunity for the next investor. The community’s two recently renovated units demonstrate proven rent premiums, commanding over a $120 rental premium, while the remaining 134 units present a clear runway for continued upside through a phased renovation program.

To maximize that upside, we believe the investment thesis should extend beyond unit-level improvements to encompass the broader community experience. Boulder Creek’s existing amenity base — including laundry facility, pool, outdoor kitchen, and common areas — provides a strong foundation. Bringing these spaces to a finish level consistent with newer, premium communities in the submarket will position Boulder Creek to capture the full spread available between its current rents and those of its best-in-class competitors.

The combination of continued unit renovations and a refreshed amenity package creates a clear path to top-of-market rents and sustained long-term value.

$229K

Growth
in effective gross income
after renovations

134

Units 
remain in
classic condition

$143

Market rent premium
in place for
renovated units


Standard Unit

Contact Us

Investment Sales

CLAY ANDERSON
Senior Managing Director
208.440.2486
[email protected]
ID CRE #SP34431

SPENCER HANSEN
Director
208.921.2560
[email protected]
ID CRE #SP54287

CHRISKOTT TODD
Associate Director
208.906.9515
[email protected]
ID CRE #SP58860

Mortgage Bankers

ROBERT DOXSEE
Managing Director
425.777.0235
[email protected]

MICHAEL MANOLIDES
Senior Director
253.670.2143
[email protected]

CONNOR LEMLEY
Associate  Director
206.455.1592
[email protected]

Office

800 West Main Street
Suite 1410
Boise, ID 83702
berkadia.com
berkadia.com/northwest

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