224 S Water Avenue Idaho Falls, ID 83402
MULTI_FAMILY - Idaho Falls, ID
- Added:
- Jul 3, 2026
- Days on Market:
- 8
- Last Refresh:
- Jul 10 at 8:06 pm
Property Features for 224 S Water Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 12
- Bathrooms
- 10
- Rooms
- Bedroom 9, Bathroom 7, Bedroom 2, Bedroom 11, Bathroom 2, Bedroom 8, Bedroom 3, Bathroom 4, Bathroom 8, Bathroom 10, Bedroom 12, Bathroom 5, Bedroom 4, Bathroom 3, Bathroom 9, Bedroom 1, Bathroom 6, Bedroom 6, Bathroom 1, Bedroom 5, Bedroom 10, Bedroom 7, Basement
- Parking
- 2
- Basement
- Finished, Partial
- Standard status
- Active
- APN
- RPA1740020010A
- Size
- 5,900 SF
- Lot size
- 0.36 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- Exhibit A
- Tax Annual Amount
- 4489
Utilities
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating)
- Water source
- Public
Building Details
- Year built
- 1940
- Number of units
- 10
- Building materials
- Block, Frame, Block, Hardboard/Composition
- Roof type
- Membrane, Metal
Listing agent Eli Dahlin License #SP51423 (208) 523-6111
Listing office Silvercreek Realty Group 2002 Jennie Lee Dr, Meridian, ID (208) 523-6111
Listing date Jul 3, 2026
Copyright © 2026 Snake River Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
As of the information provided, 8 of 10 units are currently active, and two additional units are being marketed. The remarks also note that one active unit is an Airbnb unit. Reported gross rent is $8,175 per month (approximately $98,100 per year), and the listing states an over 7.12% cap rate based on current occupancy, with a projected stabilized cap rate nearing 10% once the marketed units are filled. The property is offered with leases already in place, and the listing notes there is no HOA.
For buyers and operators seeking a turnkey multifamily collection, this offering packages multiple income-producing units into a single acquisition, with existing occupancy and move-in-ready apartments. The detached garage and off-street parking can help support tenant convenience, while the listed tax figure for 2025 is $4,489. Utilities are described as public, and the portfolio is positioned to provide a straightforward path to stabilization based on the two currently marketed units.
