Apartment Complex with
For Sale
$1,550,000
1460 Benton Street #16, Idaho Falls, ID 83401
All residences have two bedrooms and one bathroom, with select units offering private balconies or fenced courtyard areas.
Property Size15,012 SF
Price / SF$103.25
Days on Market42
Property Features for 1460 Benton Street #16
General Information
Standard status
Active
Size
15,012 SF
Property subtype
Multi-Family
Units
Unit Mix
16 x 2BR/1BA
Multifamily Units
16
Amenities
private balconies
fenced courtyard
garages
Building Details
Year Built
1966
Buildings
3
Stories
2
Listing Agency:
Century 21 High Desert
(208) 524-2121
Listed By:
Kerry Howell · License #23797
Source:
Noplacelikeidaho
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 30 at 7:08PM
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 Century 21 High Desert
Investment Insights
Based on property information with market context.
This 16-unit apartment property contains 15,012 square feet across three separate two-story buildings on more than one-half acre. Every unit is configured with two bedrooms and one bathroom. Select residences include private balconies, while others open to fenced courtyard-style areas. Basement units feature larger windows intended to provide additional natural light.
The buildings were constructed in 1966 and have recently received stucco refinishing. Single-car garages are also available for rent, adding supplemental storage or parking options for residents. The property’s layout combines multiple detached structures with a range of unit-level outdoor features.
The buildings were constructed in 1966 and have recently received stucco refinishing. Single-car garages are also available for rent, adding supplemental storage or parking options for residents. The property’s layout combines multiple detached structures with a range of unit-level outdoor features.
Key Highlights
- 16‑unit apartment property totaling 15,012 square feet
- Three separate two‑story buildings on over a 1/2 acre
- All units include 2 bedrooms and 1 bathroom
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
$114,377
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
7.38%
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%
$2,287,540
$2.3M
Cap Rate 7%
$1,633,957
$1.6M
Cap Rate 9%
$1,270,856
$1.3M
Market Conditions
NOI Build-Up for 15,012 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
$216.2K $14.40/SF
− Vacancy
−$8.2K −$0.55/SF
EGI
$208.0K $13.85/SF
− OpEx
−$93.6K −$6.23/SF
NOI
$114.4K $7.62/SF
Area
Bonneville County, ID
Vacancy
3.80%
Lease Rate
$14.40 /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%
$2,287,540
Cap Rate 7%
$1,633,957
Cap Rate 9%
$1,270,856
Alternative Uses
Best Use
Apartment 5plus
$1.63M
$1.43M – $1.91M
NOI $114,377 @ 7.0% cap · market cap 7.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.32M
$2.90M – $3.87M
NOI $232,170 @ 7.0% cap · market cap 14.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
903
Businesses Nearby
Explore this area
Business Placement
Demographics for 83401, ID
47,114
Population
16,026
Households
2.9
Avg Household Size
31
Median Age
30%
College-Educated
90%
High-School Grad
197.3 sq mi
ZIP Area
239
Density / Sq Mi
$75,870
Median Household Income
$35,293
Median Earnings
$1,132
Median Rent
$307,700
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?
Apartment building - All residences have two bedrooms and one bathroom, with select units offering private balconies or fenced courtyard areas.
Where is this apartment building located?
The property is located at 1460 Benton Street #16 Idaho Falls, ID.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: 16‑unit apartment property totaling 15,012 square feet; Three separate two‑story buildings on over a 1/2 acre; All units include 2 bedrooms and 1 bathroom
