Asset class · Multifamily
2-to-20+ unit rentals across the Treasure Valley.
Ada County tightened caps. Canyon County still clears. We run stabilized acquisitions, value-add repositions, and small-format new construction with the underwriting discipline the current market requires.
2–20+ unit rentals
Current cap-rate ranges
| Product type | Market | Cap range |
|---|---|---|
| 2–4 unit stabilized | Ada County | 5.5% to 6.5% |
| 5–20 unit B/C class | Ada County | 5.0% to 6.0% |
| 2–4 unit | Canyon County | 6.0% to 7.0% |
| 5–20 unit B/C | Canyon County | 5.5% to 6.5% |
Ada County ranges are preserved verbatim from the live site. Canyon County comparables are directional and updated quarterly.
Q1 2026 market update
Stabilized vacancy
5.4%
Boise metro · Q1 2026 · C&W
Unstabilized vacancy
7.7%
Boise metro · Q1 2026 · C&W
Net absorption YTD
885 units
13th consecutive positive quarter · C&W
Overall MF cap rate
~5.6%
All classes · ApartmentLoanStore Q1 2026
Boise metro multifamily stabilized vacancy clocked 5.4% in Q1 2026, per Cushman & Wakefield, with unstabilized vacancy at 7.7% reflecting deliveries still leasing up. Net absorption hit 885 units year-to-date, the thirteenth consecutive positive quarter. Overall cap rates across all multifamily classes ran at approximately 5.6%.
The Meridian pipeline
Under development
848 apts
Near The Village · Meridian
Townhomes
35
Under development
Meridian carries the heaviest multifamily pipeline in the Valley measured per capita. Near The Village, 848 apartments plus 35 townhomes are in the ground or in permitting.
What value-add means in 2026
Rent optimization
Rent-audit-based increases on existing tenants when legally available.
Cap-ex reposition
Unit turns with finish upgrade, in-unit W/D, reserved parking.
Expense optimization
Property management, insurance, utility billing.
Zoning upside
Lot reconfiguration, ADU addition, unit division.
The multifamily process with Renew
- 01
Tell us your criteria
Unit count, city, cap range, DSCR minimum, condition tolerance.
- 02
We source matching opportunities
Direct owner contact and MLS listings that fit your parameters.
- 03
We underwrite with you
Rent roll review, T-12, trailing operating statements.
- 04
Acquisition representation through close
Buyer-tier matching activates for your future direct-acquisition flow.
Who this is for
1031-exchange investors
Up-trading from SFH into small multi.
Syndication sponsors
With LP capital looking at 5-to-20-unit product.
Owner-operators
Bringing PM capability to a value-add reposition.
Passive investors
Evaluating stabilized product for steady yield.
Ready when you are
Ready to look at multifamily?
Bring us unit count, cap range, and condition tolerance. We match the acquisition to your capital plan.