224 S Water Avenue, Idaho Falls, ID 83402
224 S Water Avenue, Idaho Falls, ID 83402,Video Tour
224 S Water Avenue, Idaho Falls, ID 83402
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Denise Abmont

Denise Abmont

Abmont Realty Group

+1(208) 789-4320
$1,100,000
Est. payment /mo
12 Beds
10 Baths
5,900 SqFt
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 5,900 sqft

Price per Sqft $186

Subdivision Original Townsite

MLS Listing ID 2187531

Bedrooms 12

Full Baths 10

Year Built 1940

Annual Tax Amount $4,489

Tax Year 2025

Lot Size 0.356 Acres

Acres 0.3558

Property Sub-Type Multi Family

Property 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.

Location

State ID

County Bonneville

Area 5900

Zoning General Zoning: Not Verified,Specific Zoning: Not Verified

Rooms

Basement Finished, Partial

Interior

Heating Electric

Cooling None

Inclusions Fridge And Range In Each Unit

Laundry Coin Operated Laundry

Exterior

Garage Spaces 2.0

View Y/N No

Roof Type Membrane,Metal

Garage Yes

Private Pool No

Building

Foundation Concrete Perimeter

Sewer Public Sewer

Water Public

Schools

Elementary Schools Hawthorne 91El

Middle Schools Taylor View 91Jh

High Schools Idaho Falls 91Hs

Others

Senior Community false

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

Special Listing Condition Standard

Virtual Tour https://www.zillow.com/view-imx/90606cc5-bc62-466e-8a97-040f993c984f?setAttribution=mls&wl=true&initialViewType=pano&utm_source=dashboard

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Listed by Silvercreek Realty Group

NEARBY SCHOOL & BUSINESS

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+1(208) 789-4320

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224 S Water Avenue

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