Haven on State
Stabilized Investment
Marketing description
Haven on State presents a rare opportunity to acquire a newly constructed, 48-unit multifamily asset in Boise's highly desirable North Boise submarket. Completed in 2024, the property features modern finishes, open-concept layouts, and private balconies, catering to strong renter demand in a supply-constrained market. With in-place rents below market averages and near-term lease rollover, investors have a clear path to immediate income growth in one of the region's most dynamic rental markets.
Ideally positioned along State Street in North Boise, Haven on State offers exceptional access to Downtown Boise, the Boise River, and the Greenbelt trail system. Surrounded by the foothills and key lifestyle amenities, the location attracts high-quality tenants seeking both outdoor recreation and urban convenience. The area benefits from strong population growth, limited new supply, and major economic drivers, including Micron’s planned expansion bringing thousands of jobs to the region.
Investment highlights
- New construction with modern finishes
- Open concept design with personal balconies
- Full size appliances including washer and dryer
- Walking distance to Lake Harbor and Boise’s Greenbelt
- Incredible location bracketed by the Boise River and Foothills, minutes from Downtown Boise
- 24 leases expire within 6 months, representing an annualized near-term rent upside of approximately $15,600
- Market Tailwinds- Boise occupancy rates remain above 95%. New construction starts are down 60%+ from peak, and Micron’s chip fab will add thousands of jobs by 2027. Attractive agency financing is available with $6M+ loan proceeds
- Market wide average rents $1,680 vs. in-place rents of $1,317
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