Quadplex With Separate
New
For Sale
$517,000
133 E 21st Street, Idaho Falls, ID 83404
Commercial Sale, Idaho Falls, ID
Property Size3,800 SF
Lot Size0.22 Acres
Price / SF$136.05
Days on Market4
Property Features for 133 E 21st Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
General Zoning: Commercial Rg-Com, Specific Zoning: Idaho Falls-R1 Residential
Bathrooms
4
Full bathrooms
4
Rooms
Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4
Parking features
Assigned, Off Street, On Street, Garage, Parking Lot
Basement
Finished
Subdivision
Brodbecks-Bon
Directions
From I-15, take Exit 118 for Broadway St. Head east on Broadway, then turn right (south) on Yellowstone Ave. Turn left (east) onto E 21st St. Property is located at 133 E 21st on the north side of the street.
Standard status
Active
APN
RPA03200
Size
3,800 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Lots 31-33, Block 13 BrodbecksNE 1/4, SEC 30 TN, R 38 Units 2
Tax Annual Amount
3713
Legal Description
Lots 31-33, Block 13 BrodbecksNE 1/4, SEC 30 TN, R 38 Units 2
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Forced Air, Electric (Heating), Ductless (Heating), Natural Gas
Cooling system
Zoned, Central Air, Ductless
Water source
Public
Amenities
community laundry room
fenced yards
Building Details
Year built
1975
Building materials
Block, Frame, Brick, Metal Siding, Stone, Vinyl Siding
Roof type
Composition, Metal
Listing Agency:
Silvercreek Realty Group
(208) 523-6111
Listed By:
Steven Phaysounlaphong
(208) 523-6111
Added: Aug 26
Last Checked: Aug 29 at 12:06PM
MLS# 2186029
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.
This quadplex comprises two dwellings totaling 3,800 square feet on a 0.22-acre lot. The front residence contains an upper two-bedroom unit with a finished bonus/flex room and a remodeled basement unit with two bedrooms and two bathrooms. The rear dwelling includes one-bedroom upper and lower units, with a remodeled lower unit and finished flex room. All four units are currently occupied.
Property improvements include a community laundry room with two washers and two dryers, plus a separate washer and dryer in the rear dwelling. Each residence has its own driveway, while two fenced yards provide distinct outdoor areas. Built in 1975, the property has public water, public sewer, and service from Idaho Falls Power. The property is located at 133 E 21st Street in Idaho Falls, Idaho.
Property improvements include a community laundry room with two washers and two dryers, plus a separate washer and dryer in the rear dwelling. Each residence has its own driveway, while two fenced yards provide distinct outdoor areas. Built in 1975, the property has public water, public sewer, and service from Idaho Falls Power. The property is located at 133 E 21st Street in Idaho Falls, Idaho.
Key Highlights
- Four currently occupied rental units across two separate dwellings
- 3,800 square feet on a 0.22‑acre lot
- Unit mix includes two 2‑bedroom units and two 1‑bedroom units
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
$32,008
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
6.19%
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%
$640,160
$640.2K
Cap Rate 7%
$457,257
$457.3K
Cap Rate 9%
$355,644
$355.6K
Market Conditions
NOI Build-Up for 3,800 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
$47.9K $12.60/SF
− Vacancy
−$2.2K −$0.57/SF
EGI
$45.7K $12.03/SF
− OpEx
−$13.7K −$3.61/SF
NOI
$32.0K $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 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%
$640,160
Cap Rate 7%
$457,257
Cap Rate 9%
$355,644
Alternative Uses
Best Use
Multifamily LT 5
$457.3K
$400.1K – $533.5K
NOI $32,008 @ 7.0% cap · market cap 6.19%
Second Best
Apartment 5plus
$413.6K
$361.9K – $482.5K
NOI $28,952 @ 7.0% cap · market cap 5.60%
Theoretical Best
Office A
$839.6K
$734.6K – $979.5K
NOI $58,769 @ 7.0% cap · market cap 11.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
355
Businesses Nearby
Explore this area
Business Placement
Demographics for 83404, ID
25,491
Population
9,606
Households
2.7
Avg Household Size
37
Median Age
35%
College-Educated
92%
High-School Grad
25.0 sq mi
ZIP Area
1,020
Density / Sq Mi
$79,211
Median Household Income
$36,802
Median Earnings
$1,013
Median Rent
$355,200
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?
Quadplex - Four occupied rental units span two dwellings with private entrances, fenced yards, and separate driveways.
Where is this quadplex located?
The property is located at 133 E 21st Street Idaho Falls, ID.
What is the asking price?
The asking price for this property is $517,000.
What are key features of this property?
This property features: Four currently occupied rental units across two separate dwellings; 3,800 square feet on a 0.22‑acre lot; Unit mix includes two 2‑bedroom units and two 1‑bedroom units
