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    The Largest CRE Database in the US with Over 1 Million Listings

    350 E St Idaho Falls, ID 83402

    Sponsored
    For Sale
    $4,449,000

    MULTI_FAMILY - Idaho Falls, ID

    Property size:
    22,578 SF
    Lot size:
    0.41 Acres
    Days on Market:
    127
    Last Refresh:
    Jan 26 at 10:06 am

    Property Features for 350 E St

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Security features
    Security System
    Rooms
    Bedroom 18, Bedroom 10, Bathroom 7, Bedroom 14, Bedroom 6, Bedroom 16, Bathroom 4, Bedroom 2, Bathroom 13, Bathroom 15, Bathroom 2, Bedroom 13, Bedroom 22, Bedroom 5, Bedroom 12, Bedroom 8, Bathroom 23, Bathroom 24, Bathroom 27, Basement, Bathroom 12, Bathroom 16, Bathroom 20, Bathroom 22, Bedroom 24, Bedroom 17, Bedroom 27, Bedroom 20, Bedroom 15, Bedroom 19, Bathroom 26, Bathroom 25, Bedroom 25, Bedroom 7, Bedroom 9, Bathroom 21, Bathroom 11, Bedroom 4, Bathroom 9, Bathroom 14, Bathroom 3, Bedroom 1, Bathroom 1, Bathroom 10, Bedroom 11, Bathroom 19, Bathroom 18, Bedroom 23, Bathroom 8, Bedroom 21, Bathroom 6, Bedroom 26, Bathroom 17, Bathroom 5, Bedroom 3
    Bedrooms
    27
    Bathrooms
    27
    APN
    RPA1980007008B
    Parking
    28
    Parking features
    Off Street
    Interior features
    Ceiling Fan(s), Newly Renovated, Storage
    Exterior features
    Lighting
    Basement
    Full
    Appliances
    Common Water Heaters, Dishwasher, Microwave, Refrigerator, Oven
    Size
    22,578 SF
    Lot size
    0.41 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Ductless (Heating), Heat Pump (Heating)
    Cooling system
    Ductless, Zoned
    Water source
    Public

    Building Details

    Year built
    1948
    Number of units
    27
    Building materials
    Stucco
    Roof type
    Membrane
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Matthew Flinders

    Armstrong Flinders and Associates (801) 375-1075

    Listing agent Matthew Flinders (208) 521-1406

    Listing date Sep 22, 2025

    MLS# 2179712

    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.

    Learn more

    Property Insight Report

    Overview

    Renovated Multifamily Asset in Downtown

    Wellington Manor is a fully renovated 27-unit multifamily property located in downtown Idaho Falls, one block from the Riverwalk. The property features stylish studios and 1-bedroom units designed for long-term renters, traveling nurses, and remote workers. Renovated in 2022, the property includes 9' ceilings, sound-dampened walls, LED lighting, secured access, and efficient systems. The property offers low-maintenance operations. Tenants benefit from high-speed fiber internet, free laundry, assigned parking, and individual storage. The location provides walkability to the Museum of Idaho, dining options, a farmers market, bars, shops, and the public library. The property is situated on a 0.41-acre lot. The building size is 22578 square feet. The property is suitable for investors seeking a stable 1031 exchange or portfolio addition. The property consists of parcels RPA1980007009A & RPA1980007008B.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Wellington Manor Apartments Apartment Complex

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Idaho Falls
    County
    Bonneville
    State
    Idaho
    Longitude
    -112.0374657
    Latitude
    43.4960212

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    FAQs

    What type of property is this?
    Apartment building - Fully renovated 27-unit property in downtown Idaho Falls.
    Where is this apartment building located?
    The property is located at 350 E St Idaho Falls, ID.
    What is the asking price?
    The asking price for this property is $4,449,000.
    What are key features of this property?
    This property features: - Fully renovated (2022) 27-unit apartment building in downtown Idaho Falls.; - Prime location: one block from the Riverwalk and walkable to key amenities.; - Designed for long-term renters, traveling nurses, and remote workers.
    (801) 375-1075
    Request Owner's contact information
    350 E St Idaho Falls, ID 83402
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    350 E St Idaho Falls, ID 83402
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    We can help!
    Listing Contact
    Matthew Flinders
    (801) 375-1075
    Learn more
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