224 S Water Avenue,Idaho Falls, ID 83402
Idaho Falls, ID 83402
Description
Don't miss this exceptional opportunity to acquire a multi-family portfolio in the heart of Idaho Falls. This offering packages three separate buildings and a detached garage into one powerful income producing asset: 224 S Water Ave, 240 S Water Ave, 170 Maple St, and a bonus detached 2-stall garage. The numbers speak for themselves. With 8 of 10 units currently active, including a cash-flowing Airbnb unit, the portfolio generates $8,175/month ($98,100/year) in gross rent at over a 7.12% cap rate. Two units are actively being marketed, and once filled, the stabilized cap rate climbs to almost 10%. 5,900 total square feet across the portfolio means low price-per-square-foot and room to grow. Every unit is move-in ready and comes with a refrigerator and range. Tenants enjoy individual units across well-maintained separate buildings with off-street parking. With no HOA, public utilities, low 2025 taxes of just $4,489, and leases already in place, the heavy lifting is done. Whether you're deploying a 1031 exchange, adding to an existing portfolio, or making your first commercial-scale move this is the kind of asset that holds value, attracts tenants, and quietly builds wealth.
Details
| MLS # | 2187531 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1940 |
| Days On Site | 121 |
| Listing Provided By | Silvercreek Realty Group | Eli Dahlin |
Features
| Bed(s) | 12 |
|---|---|
| Bath(s) | 10 Total |
| SQ Feet | 5,900 |
| Garage | 2 |
| Basement | Y |
| Units | 10 |
| Zoning | General Zoning: Not Verified,Spe |
| Acreage | 0.36 |
Taxes
| Property | 4489 |
|---|
Area Information
| State | ID |
|---|---|
| County | Bonneville |
| City | Idaho Falls |
| Zip Code | 83402 |
| Community Name | Original Townsite |
| School District | Idaho Falls 91HS |
| Elementary School | Hawthorne 91EL |
| High School | Idaho Falls 91HS |
| Listing VS Median (in Original Townsite) | |
Price: $995,000 low | high Med: $299,900 sqft: 5,900 low | high Med: 2,280 $ / sqft: $169 low | high Med: $132 On site: 121 low | high Med: 47 | |
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Learn More About This Property
| State | ID |
|---|---|
| County | Bonneville |
| City | Idaho Falls |
| Zip Code | 83402 |
| Community Name | Original Townsite |
| School District | Idaho Falls 91HS |
| Elementary School | Hawthorne 91EL |
| High School | Idaho Falls 91HS |
| Listing VS Median (in Original Townsite) | |
Price: $995,000 low | high Med: $299,900 sqft: 5,900 low | high Med: 2,280 $ / sqft: $169 low | high Med: $132 On site: 121 low | high Med: 47 | |