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value-add opportunity in
popular neighborhood
highly
attractive Market
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Mitchell Belcher
Managing Director
206.801.3072
mitchell.belcher@berkadia.com
Steven Chattin
Managing Director
206.521.7224
steven.chattin@berkadia.com
Jay Timpani
Managing Director
206.801.3067
jay.timpani@berkadia.com
Spencer Hansen
Director
208.921.2560
spencer.hansen@berkadia.com
Brandon Lawler
Senior Director
206.484.8114
brandon.lawler@berkadia.com
Michael Manolides
Associate Director
253.670.2143
michael.manolides@berkadia.com
INVESTMENT ADVISORS
Robert Doxsee
Managing Director
425.777.0235
robert.doxsee@berkadia.com
MORTGAGE BANKING
Questions? Get in Touch!
Steven Chattin
Managing Director
425.269.3826
steven.chattin@berkadia.com
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Michael Manolides
Associate Director
253.670.2143
michael.manolides@berkadia.com
Robert Doxsee
Managing Director
425.777.0235
robert.doxsee@berkadia.com
Chad Blenz
Senior Director
206.801.3075
chad.blenz@berkadia.com
Jay Timpani
Managing Director
206.801.3067
jay.timpani@berkadia.com
Steven Chattin
Managing Director
206.521.7224
steven.chattin@berkadia.com
Mitchell Belcher
Managing Director
206.801.3072
mitchell.belcher@berkadia.com
INVESTMENT ADVISORS
Our team
MORTGAGE BANKING
Roosevelt pines
townhomes
exclusive offering
25-Unit Value-Add Opportunity Situated in
Boise’s Popular Central Bench Neighborhood
property overview
> 1 studio and 24 two-bed townhome-style units situated in the highly attractive Central Bench neighborhood in Boise, ID; property consists of 5 buildings across an oversized parcel
> Less than 15 minutes from Boise State and the city’s downtown urban center; ready access to Interstates 84 and 184
> 5 classic, 6 partially-renovated, and 14 fully-renovated units, all with rents significantly below market rate
> Luxury finishes in fully renovated units include stainless steel appliances, woodstyle flooring, new cabinetry, and new carpeting
> Boise region is among the fastest-growing areas in the country; broad-based economy features a unique blend of agriculture, manufacturing, and high-tech industries
Address
City, State, Zip
Price
Units
Year Built
Total Size
Total Lot Size
Parcel No.
4050 W Libby Ln
Boise, ID 83705
$5,000,000
25
1975
16,576 NRSF
1.93 acres
R8112003645
> Ranked no. 6 among the fastest-growing metros for 2023-2024 by U.S. News & World Report; population projected to grow 69% between 2022 and 2060
> Strong in-migration expected to continue with a projected 15,200+ new residents in 2024
> Number of households in Greater Boise expected to increase by 16.8% from 2023 to 2028
> $1,591 effective rent in 3Q23, down 6.2% annually but 19.9% above the market’s five-year average
Clay Anderson
Senior Managing Director
208.207.5961
clay.anderson@berkadia.com
Chad Blenz
Senior Director
206.801.3075
chad.blenz@berkadia.com
Clay Anderson
Senior Managing Director
208.207.5961
clay.anderson@berkadia.com
Spencer Hansen
Director
208.921.2560
spencer.hansen@berkadia.com
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
Seattle office
601 Union St, Suite 3909
Seattle, WA 98101
bellevue office
411 108th Avenue NE, Suite 1080
Bellevue, WA 98004
contact
Phone: 206.521.7220
Fax: 206.521.7222
Property Overview
6
$1,432
Buildings
Across one
1.93-acre parcel
Average Current Rent
In-place rent is an average of $132 below market rate
> 1 studio and 24 two-bed townhome-style units situated in the highly attractive Central Bench neighborhood in Boise, ID; property consists of 5 buildings across an oversized parcel
> Less than 15 minutes from Boise State and the city’s downtown urban center
> 5 classic, 6 partially-renovated, and 14 fully renovated units, all with rents significantly below market rate
> Luxury finishes in fully renovated units include stainless steel appliances, woodstyle flooring, new cabinetry, and new carpeting
> Boise region is among the fastest-growing areas in the country; broad-based economy features a unique blend of agriculture, manufacturing, and high-tech industries
Brandon Lawler
Senior Director
206.484.8114
brandon.lawler@berkadia.com