Triplex with Three Separately Metered
For Sale
$799,999
Pending
564 S Blue Lakes Blvd, Twin Falls, ID 83301
MULTI_FAMILY - Twin Falls, ID
Property Size4,825 SF
Lot Size4.00 Acres
Days on Market140
Property Features for 564 S Blue Lakes Blvd
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-4
Bedrooms
9
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 1, Bathroom 5, Bedroom 1, Bedroom 4, Bedroom 8, Bedroom 6, Bedroom 7, Bathroom 4, Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 5, Bedroom 9, Bathroom 3
Parking
8
Parking features
RV
Fencing
Fenced
Fireplace
1
Appliances
Disposal (No Units), Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (No Units)
Subdivision
0 Not Applic.
Lot features
1 - 4.99 Acres, Dog Run, Garden, Irrigation, R. V. Parking
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
Head South on Blue Lakes and home is on the West side of the road just past 3800 n/Park Ave.
Standard status
Pending
APN
RP10S17E217280
Size
4,825 SF
Lot size
4.00 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Sec 21 T 10 R 17 S1/2 N 1/2 NE NE SE, EXC NE 100' x250' & EXC E 30' HWY
Tax Annual Amount
3309
Legal Description
Sec 21 T 10 R 17 S1/2 N 1/2 NE NE SE, EXC NE 100' x250' & EXC E 30' HWY
Utilities
Sewer type
Septic Tank
Heating system
Wood, Baseboard, Forced Air, Fireplace(s), Natural Gas
Cooling system
Central Air
Water source
Well
Water front features
Pond
Building Details
Year built
1948
Number of units
3
Flooring type
Vinyl
Building materials
Stone, Wood Siding
Roof type
Composition, Metal, Wood
Listing Agency:
Century 21 Gateway
(208) 733-5600
Listed By:
Heidi Casdorph · License #sp42626
(208) 420-8978
Added: Mar 13
Changed: Jul 28
Last Checked: Jul 30 at 5:06PM
MLS# 98977946
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 property is a triplex comprising three separately metered residential units on approximately 4 acres. The main home includes four bedrooms and two bathrooms and features fresh interior paint, updated systems, and nearly 1,000 square feet of insulated garage space that can support storage, a work area, or additional flexibility for occupants.
The second unit is a spacious three-bedroom, two-bath home located above the garage. It includes air conditioning, an updated kitchen, fresh paint and carpet, and a private deck.
The third unit is a two-bedroom, one-bath lava rock home with a new roof, fresh carpet, and a stated strong rental history. The property is currently fully rented, and lease terms are noted to end in April 2026. Located at 564 S Blue Lakes Blvd in Twin Falls, Idaho, the setting is described as just minutes from town, with a total lot size of approximately 4 acres supporting a small multi-unit lifestyle for investors or owner-occupants seeking multiple income-producing configurations.
The second unit is a spacious three-bedroom, two-bath home located above the garage. It includes air conditioning, an updated kitchen, fresh paint and carpet, and a private deck.
The third unit is a two-bedroom, one-bath lava rock home with a new roof, fresh carpet, and a stated strong rental history. The property is currently fully rented, and lease terms are noted to end in April 2026. Located at 564 S Blue Lakes Blvd in Twin Falls, Idaho, the setting is described as just minutes from town, with a total lot size of approximately 4 acres supporting a small multi-unit lifestyle for investors or owner-occupants seeking multiple income-producing configurations.
Key Highlights
- Triplex on 4 acres with three separately metered units—option for investors or owner‑occupants
- Main home: 4 bedrooms, 2 bathrooms, fresh interior paint, updated systems, plus nearly 1,000 SF insulated garage space
- Second unit over the garage: 3 bedrooms, 2 bathrooms, central air, updated kitchen, fresh paint and carpet, and a private deck
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $66.6k | $13.80 |
| − Vacancy | −$3.0k | −$0.62 |
| EGI | $63.6k | $13.18 |
| − OpEx | −$19.1k | −$3.95 |
| NOI | $44.5k | $9.23 |
4,825 SF · lease $13.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$635.9K
$556.4K – $741.9K
NOI $44,512 @ 7.0% cap · market cap 5.56%
Second Best
Apartment 5plus
$572.1K
$500.6K – $667.5K
NOI $40,048 @ 7.0% cap · market cap 5.01%
Theoretical Best
Specialty Retail
$1.11M
$968.5K – $1.29M
NOI $77,481 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
313
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?
Triplex - Three separately metered rental units on 4 acres, fully rented with leases scheduled to end April 2026.
Where is this triplex located?
The property is located at 564 S Blue Lakes Blvd Twin Falls, ID.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: Triplex on 4 acres with three separately metered units—option for investors or owner‑occupants; Main home: 4 bedrooms, 2 bathrooms, fresh interior paint, updated systems, plus nearly 1,000 SF insulated garage space; Second unit over the garage: 3 bedrooms, 2 bathrooms, central air, updated kitchen, fresh paint and carpet, and a private deck
