ICONIC VILLAGE

529 Rossi Street

Boise, ID 83706

161

Units

1969 / 2023

Built / Reno. 

Property Description

Berkadia Boise is pleased to present Iconic Village, an irreplaceable young professional/student-centric multifamily community ideally positioned just steps from Boise State University and the heart of Boise’s dynamic cultural district. With a prime walkable location less than one mile from campus and near downtown’s vibrant restaurants, nightlife, recreation, and public transit, Iconic Village offers unparalleled connectivity for students and young renters seeking both academic convenience and lifestyle access. The property’s proximity to major employment hubs such as the BSU campus, Albertsons Stadium, St. Luke’s Boise Medical Center, and area tech employers ensures a consistent and deep resident pool—supported by Boise’s record-setting university enrollment and the metro’s ongoing population growth.

Iconic Village features 161 thoughtfully designed units spread across 20 buildings with an array of living styles, including furnished studios, flexible roommate floorplans, and spacious one- and three-bedroom apartments. Residents enjoy a host of modern amenities tailored to a young adult-friendly environment, such as a clubhouse, game room, coffee bar, BBQ area with built-in swings, and an off-leash dog park. The combination of naturally affordable, competitive rents and extensive community offerings meets the evolving preferences of Boise’s youthful renter base. As one of the region’s most sought-after locations in a top-tier university market, Iconic Village is poised for continued operational success and long-term rent growth, making it an exceptional investment opportunity in the heart of Idaho’s fastest-growing metro.

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INVESTMENT HIGHLIGHTS

Irreplaceable Student/Young Professional-Centric Location

  • Steps from Boise State University:
    Just 0.7 miles from BSU’s campus, providing direct walkability for a student population of 27,250+ (with more than 24,800 students living off campus).
  • Surrounded by Lifestyle Demand Drivers:
    Within a one-mile radius of Albertsons Stadium, Boise River Greenbelt, Boise Foothills Ridge-to-Rivers trail system, and vibrant dining/entertainment – offering the live-work-play environment today’s young adults seek.
  • Close proximity to major downtown employers:
    Tenants are less than 5 minutes from a stable of Boise’s top employers including Albertsons, Simplot, St. Luke’s Hospital, Clearwater Analytics, Idaho Power, and the Idaho State Capitol government offices. 

Value-Add Community with Diverse Unit Mix

  • Renovated Property & On-Site Amenities:
    161 units on 5.07 acres, offering renovated interiors (vinyl flooring, efficient appliances), multiple furnished/student options, and amenities like a clubhouse, game room, outdoor fire pit, and pet park.
  • Flexible Living Styles:
    Studio, 1-bedroom, and 3-bedroom units (furnished and unfurnished) support roommates, singles, and varied lifestyles. 
  • Competitive Rents & Rent Growth Opportunity:
    With average in-place rent of $1,351, Iconic Village is well-positioned versus nearby product—Offering affordable chunk rent leading to higher occupancy, and future rental upside.

Exceptional Market Fundamentals

  • Young Renter Demographic:
    23% of Boise’s population is in the critical renter/student age cohort (18–35 years). Area college students require off-campus accommodations.
  • Boise: A Top-Tier University City:
    Consistently ranked among the nation’s fastest-growing, most livable metros; current population and household growth rates—plus a ~13% increase in BSU enrollment since 2020—drive consistent performance.
  • Strong Leasing & Rent Stability:
    Boise multifamily occupancy stands at 95.1% (Q2 2025), with continued net absorption even as new supply is delivered; robust fundamentals provide steady housing demand through multiple economic cycles.

Operationally Strong In-Place Management

  • High occupancy and effective rent collection:
    In-place management has maintained an occupancy rate of over 95% with disciplined rent collections, resulting in stable net rental income. Current occupancy is 97%.
  • Efficient cost control:
    Operating expenses are well-managed and in line with market benchmarks, demonstrating prudent expense control and efficient day-to-day operations

Office & Contact Info 

BERKADIA BOISE
800 West Main Street
Suite 1410
Boise, ID 83702
berkadia.com | northwest.berkadiarea.com

Investment Sales

Clay Anderson
208.440.2486
[email protected]
ID CRE #SP34431

Spencer Hansen
208.921.2560
[email protected]
ID CRE #SP54287

Chriskott Todd
208.906.9515
[email protected]
ID CRE #SP58860

Mortgage Banking

Jeff Stuart
206.801.3069
[email protected]

John Runkle
206.801.3073
[email protected]

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