8-Unit Multifamily Property with New
For Sale
$1,520,000
259 Pheasant Rd W #17 27 42 57 58 65 75 85, Twin Falls, ID 83301
Residential Income, Twin Falls, ID
Property Size7,300 SF
Lot Size0.39 Acres
Price / SF$208.22
Days on Market809
Property Features for 259 Pheasant Rd W #17 27 42 57 58 65 75 85
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
17
Bathrooms
9
Full bathrooms
9
Rooms
Bedroom 1, Bathroom 5, Bathroom 3, Bedroom 10, Bathroom 4, Bedroom 2, Bedroom 5, Bedroom 15, Bathroom 9, Bedroom 16, Bedroom 7, Bedroom 3, Bathroom 1, Bedroom 17, Bathroom 7, Bathroom 8, Bedroom 12, Bedroom 8, Bedroom 6, Bathroom 6, Bedroom 9, Bedroom 13, Bedroom 14, Bathroom 2, Bedroom 11, Bedroom 4
Parking
16
Appliances
Disposal (Some Units), Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (No Units)
Subdivision
Washington Park Townhouses
Lot features
10000 S F - .49, Sidewalks
Elementary school
Oregon Trail
Middle school
South Hills
High school
Twin Falls
Elementary school district
Twin Falls School District #411
Middle school district
Twin Falls School District #411
High school district
Twin Falls School District #411
Directions
Washington St. S/West on Pheasant Rd. to the Pheasant View Townhomes
Standard status
Active
APN
RPT56310000750A
Size
7,300 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Washington Park Townhouse Subdivision lots 17,27,42,57,58,65,75,85
Tax Annual Amount
11265
HOA Fee
$608 Monthly
Legal Description
Washington Park Townhouse Subdivision lots 17,27,42,57,58,65,75,85
Utilities
Heating system
Electric (Heating), Baseboard
Cooling system
Wall/Window Unit(s), Window Unit(s)
Building Details
Year built
1978
Number of units
8
Building materials
Frame, Vinyl Siding
Roof type
Composition
Listing Agency:
Gem State Realty Inc
(208) 734-0400
Listed By:
Walt Hess · License #DB00003473
(208) 410-2525
Added: Jun 14, 2024
Changed: Aug 19
Last Checked: Aug 31 at 2:06PM
MLS# 98914272
Copyright © 2026 Intermountain Multiple Listing Service. 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.
This Twin Falls multifamily offering includes 8 individual units totaling 7,300 square feet. The configuration includes three 2-bedroom, 1-bath single-level units; four 2-bedroom, 1-bath two-level units; and one 3-bedroom, 1.5-bath two-level unit. Each unit has its own parcel number. The buildings were constructed in 1978 with frame construction, vinyl siding, composition roofs, and new roofs across all units. Most interiors have been refurbished, while some units require additional refurbishment.
Unit features include electric baseboard heating, wall or window cooling units, stoves or ranges, and refrigerators. Washers and dryers are not included. The property occupies 0.39 acres in Twin Falls, Idaho, with vinyl fencing and maintenance-free siding. Common-area maintenance and trash service are provided through the homeowners association.
Unit features include electric baseboard heating, wall or window cooling units, stoves or ranges, and refrigerators. Washers and dryers are not included. The property occupies 0.39 acres in Twin Falls, Idaho, with vinyl fencing and maintenance-free siding. Common-area maintenance and trash service are provided through the homeowners association.
Key Highlights
- 8 individual multifamily units offered together
- Unit mix includes three 2‑bedroom, 1‑bath single‑level units
- Four 2‑bedroom, 1‑bath two‑level units plus one 3‑bedroom, 1.5‑bath two‑level unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$60,591
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,211,820
$1.2M
Cap Rate 7%
$865,586
$865.6K
Cap Rate 9%
$673,233
$673.2K
Market Conditions
NOI Build-Up for 7,300 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$114.8K $15.72/SF
− Vacancy
−$4.6K −$0.63/SF
EGI
$110.2K $15.09/SF
− OpEx
−$49.6K −$6.79/SF
NOI
$60.6K $8.30/SF
Area
Twin Falls County, ID
Vacancy
4.00%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,211,820
Cap Rate 7%
$865,586
Cap Rate 9%
$673,233
Alternative Uses
Best Use
Apartment 5plus
$865.6K
$757.4K – $1.01M
NOI $60,591 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.67M
$1.47M – $1.95M
NOI $117,225 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
65
Businesses Nearby
Explore this area
Business Placement
Demographics for 83301, ID
60,789
Population
24,466
Households
2.5
Avg Household Size
35
Median Age
24%
College-Educated
90%
High-School Grad
295.7 sq mi
ZIP Area
206
Density / Sq Mi
$62,388
Median Household Income
$36,276
Median Earnings
$1,011
Median Rent
$290,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Bulk multifamily offering with varied unit layouts, updated exteriors, and a mix of refurbished and unfinished interiors.
Where is this multifamily property located?
The property is located at 259 Pheasant Rd W #17 27 42 57 58 65 75 85 Twin Falls, ID.
What is the asking price?
The asking price for this property is $1,520,000.
What are key features of this property?
This property features: 8 individual multifamily units offered together; Unit mix includes three 2‑bedroom, 1‑bath single‑level units; Four 2‑bedroom, 1‑bath two‑level units plus one 3‑bedroom, 1.5‑bath two‑level unit
