Triplex with In-Unit
New
For Sale
$395,000
1221 Sage Avenue, Idaho Falls, ID 83402
Separate electric meters and heating serve each residence, and occupants cover their own utility costs.
Property Size3,424 SF
Price / SF$115.36
Days on Market3
Property Features for 1221 Sage Avenue
General Information
Standard status
Active
Size
3,424 SF
Property subtype
Triplex
Units
Multifamily Units
3
Individually Metered Utilities
electricity, heating
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$2,856
Building Details
Building Size
3,424 SF
Year Built
1920
Buildings
1
Tenancy
Multi
Listing Agency:
Axen Realty
Listed By:
Dustin Hawkins · License #46635
(208) 437-7122
Source:
Abigailmartinrealty
Added: Oct 26
Last Checked: Oct 26 at 3:29PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Axen Realty
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Investment Insights
Based on property information with market context.
Built in 1920, this 3,424-square-foot triplex has three units, including one currently vacant and two with existing leases. Each residence has its own electric meter and heating system. Improvements include a metal roof, updated furnaces and water heaters, and recent exterior painting. The largest unit has in-unit laundry; a separate storage area is located on the main level, with mechanical equipment in the basement.
The property is in downtown Idaho Falls, within walking distance of the Snake River, the Idaho Falls Greenbelt and downtown services. Parking includes on-street spaces and an off-street concrete pad.
The property is in downtown Idaho Falls, within walking distance of the Snake River, the Idaho Falls Greenbelt and downtown services. Parking includes on-street spaces and an off-street concrete pad.
Key Highlights
- 3,424‑square‑foot triplex built in 1920
- One unit is vacant; two units have existing leases
- Separate electric meters and heating for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,841
Cap Rate
7.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$576,820
$576.8K
Cap Rate 7%
$412,014
$412.0K
Cap Rate 9%
$320,456
$320.5K
Market Conditions
NOI Build-Up for 3,424 SF
Gross rent
$43.1K $12.60/SF
− Vacancy
−$1.9K −$0.57/SF
EGI
$41.2K $12.03/SF
− OpEx
−$12.4K −$3.61/SF
NOI
$28.8K $8.42/SF
Area
Bonneville County, ID
Vacancy
4.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$576,820
Cap Rate 7%
$412,014
Cap Rate 9%
$320,456
Alternative Uses
Best Use
Multifamily LT 5
$412.0K
$360.5K – $480.7K
NOI $28,841 @ 7.0% cap · market cap 7.30%
Second Best
Apartment 5plus
$372.7K
$326.1K – $434.8K
NOI $26,088 @ 7.0% cap · market cap 6.60%
Theoretical Best
Office A
$756.5K
$661.9K – $882.6K
NOI $52,954 @ 7.0% cap · market cap 13.41%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,201
Businesses Nearby
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Business Placement
Demographics for 83402, ID
28,452
Population
11,983
Households
2.4
Avg Household Size
34
Median Age
31%
College-Educated
92%
High-School Grad
171.0 sq mi
ZIP Area
166
Density / Sq Mi
$72,064
Median Household Income
$35,593
Median Earnings
$904
Median Rent
$301,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Separate electric meters and heating serve each residence, and occupants cover their own utility costs.
Where is this triplex located?
The property is located at 1221 Sage Avenue Idaho Falls, ID.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 3,424‑square‑foot triplex built in 1920; One unit is vacant; two units have existing leases; Separate electric meters and heating for each unit
