The Pines Apartments
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Marketing description
Berkadia Boise Investment Sales is pleased to present the exclusive listing of The Pines Apartments, a 45-unit garden-style apartment community located at 7501 W Florence Lane in the West Bench neighborhood of Boise, Idaho.
The property was constructed in 1993 and renovated in 2023, offering a mix of a single one-bedroom and forty-four two-bedroom units ranging from 700 to 960 square feet. With stabilized rental income and 10 units awaiting full renovation, the property offers a variety of opportunities for new investors.
The Pines spans seven two-story wood-frame buildings on 2.957 acres, clad in stucco siding with pitched gable rooflines and an open-air garden-style corridor layout. Two finish schemes are in place across the community: renovated units feature vinyl plank flooring, painted white wood cabinetry, stainless steel appliances, and tile backsplash, while classic units retain original finishes with clear value-add potential. Select units offer vaulted ceilings, fireplaces, and private patios or balconies, with in-unit washers and dryers standard throughout.
On-site, residents enjoy an inner courtyard with garden space, a barbecue area with picnic tables, a playground, a dedicated storage closet, and covered carport parking across 102 total stalls, producing a 2.27-per-unit parking ratio. Additionally, residents may rent from the 15 available garages located on the property.
The West Bench location places residents within minutes of Boise Towne Square, N. Cole Road retail and dining, and direct freeway access via I-184, connecting the property to downtown Boise and the broader Treasure Valley employment corridor. Hyatt Hidden Lakes Reserve and the Boise River Greenbelt trail system are accessible nearby, reinforcing the neighborhood’s appeal to the outdoor-oriented renter profile that defines the Boise market.
Investment highlights
BOISE MARKET GROWTH:
The Boise MSA has established itself as one of the most durable multifamily markets in the Mountain West. Average effective rent reached $1,642 per month in Q1 2026, up 3.6% year-over-year. Berkadia projects 3.9% rent growth by year-end 2026 and 5.3% annually from 2027 through 2030, anchored by Micron’s $15 billion semiconductor plant, Meta’s $800 million data center, and St. Luke’s $1.2 billion patient tower. Employers are forecasted to add 10,500 net new jobs in 2026, sustaining the in-migration that has grown the metro 15% since 2020 toward a projected 1 million residents by 2030.
CORE LOCATION PREMIUM:
The Pines sits within the established Boise core, a submarket that consistently trades at a premium to the broader metro. Proximity to St. Luke’s, Micron Technology, and Boise State University supports stronger occupancy and lower vacancy duration than outlying submarkets. The Boise core posted 95.0% occupancy in Q1 2026, with the West Bench location offering residents immediate access to Boise Towne Square, I-184, and the metro’s primary employment corridors.
HIGH QUALITY ASSET:
The Pines is a full decade newer than the typical 1970s and early 1980s product competing in the West Bench submarket. Stucco siding, copper plumbing, individual electrical panels, air conditioning, dedicated gas water heaters, and in-unit washers and dryers distinguish the property from older inventory where these features are largely absent. Select units offer vaulted ceilings, fireplaces, and private patios or balconies. The Pines delivers a construction quality and amenity package at a basis that cannot currently be replicated in the Boise West Bench neighborhood.
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