Selkirk Apartments
100% Leased | Multifamily | Fully Renovated
Marketing description
Berkadia Boise is pleased to present a rare opportunity to acquire Selkirk Apartments, a fully renovated, 24-unit multifamily community in one of Boise’s most connected infill neighborhoods.
Comprised of two 12-unit buildings of all 1-bed floor plans, Selkirk Apartments pair a clean, efficient design with turnkey condition that removes near-term capital risk. Every unit has been updated to current finish standards, allowing a new owner to step into stabilized cash flow from day one while retaining clear upside as in-place rents mark to a rising market. The single-floorplan layout and compact two-building footprint keep operations simple and predictable.
Selkirk Apartments sit in Boise’s West/Bench neighborhood, an established residential pocket prized for its central position and direct connectivity. Residents are minutes from the I-184 Connector at the Curtis Road interchange, placing downtown Boise, the Boise Airport, and the broader metro freeway network within an easy commute. The immediate area is anchored by Saint Alphonsus Regional Medical Center, one of the metro’s largest healthcare employers, with St. Luke’s Health System, Micron Technology, Boise State University, and the State of Idaho all within the surrounding employment core. Everyday retail, dining, and services along Curtis, Fairview, and State Street round out a location that delivers genuine walk-to-work and drive-anywhere convenience.
Greater Boise remains one of the strongest multifamily markets in the Mountain West, driven by a thriving tech sector, expanding healthcare systems, and sustained in-migration. Metro effective rent reached $1,642 in the first quarter of 2026, up 3.6% year over year, while occupancy held at 95.0%. Renting remains far more affordable than owning, with rent consuming just 19.5% of metro income against a 25.6% national average. Employers are forecast to add roughly 10,500 net new jobs in 2026 on the strength of Micron’s $15 billion plant expansion, St. Luke’s $1.2 billion patient tower, and Meta’s new data center, while metro population is projected to climb 17.4% over the next five years.
Investment highlights
TURNKEY ASSET:
Selkirk Apartment’s two matching 12-unit buildings and single 1×1 floorplan make for one of the most straightforward operating profiles in the market. With renovations completed between 2021-2023, all 24 units were brought to current finish standards. The property carries no near-term capital obligations and is ready to deliver stabilized income from day one, an ideal fit for an owner seeking dependable cash flow without the burden of intensive management.
MEANINGFUL UPSIDE TO MARKET:
At an average year one market rent of $1,450, Selkirk Apartments sit well below the $1,642 Boise metro average, leaving clear room to grow income as units mark to market. Even at today’s rents, ownership remains out of reach for most renters, with the monthly cost of a median home within three miles running $2,997.
HIGHLY CONNECTECTED WEST/BENCH LOCATION:
Positioned minutes from the I-184 Connector at the Curtis Road interchange, Selkirk Apartments give residents a fast, direct route to downtown Boise, the airport, and the wider metro freeway network. The property sits at the doorstep of the area’s largest employment base, anchored by Saint Alphonsus Regional Medical Center and joined by St. Luke’s Health System, Micron Technology, Boise State University, and the State of Idaho, keeping demand for well-placed rental housing consistently strong.
MARKET BUILT FOR SUSTAINED GROWTH:
Boise continues to outperform, with effective rent up 3.6% year over year and employers forecast to add roughly 10,500 net new jobs in 2026. Headline investment from Micron’s $15 billion plant, St. Luke’s $1.2 billion patient tower, and Meta’s new data center is fueling sustained in-migration, and Berkadia projects rent growth averaging 5.3% annually through 2030, positioning attainably priced communities like Selkirk Apartments to benefit for years to come.
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