16-Unit Apartment
For Sale
$1,550,000
Pending
16-1460 Benton St, Idaho Falls, ID 83401
Three two-story buildings offer two-bedroom units, select balconies, fenced courtyards, and recently refinished stucco.
Property Size15,012 SF
Days on Market38
Property Features for 16-1460 Benton St
General Information
Standard status
Pending
Size
15,012 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$16,327
Listing Agency:
Century 21 High Desert
(208) 521-2827
Listed By:
Kerry Howell · License #23797
(208) 521-2827
Source:
Exprealty
Added: Jul 16
Changed: Aug 21
Last Checked: Aug 21 at 1:31PM
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 consists of three separate two-story buildings on more than a half-acre. Every apartment includes two bedrooms and one bathroom, while basement units feature larger windows for additional natural light. Select residences have private balconies, and certain units are arranged around fenced courtyard areas. The buildings have recently received stucco refinishing, and single-car garages are available for rent.
The property is located at 16-1460 Benton St in Idaho Falls, Idaho, and contains 15012 square feet. The ownership history includes a long-term owner, with rental history and cash flow identified as established property characteristics.
The property is located at 16-1460 Benton St in Idaho Falls, Idaho, and contains 15012 square feet. The ownership history includes a long-term owner, with rental history and cash flow identified as established property characteristics.
Key Highlights
- 16‑unit apartment complex on over a 1/2 acre
- 15012 square feet across three separate 2‑story buildings
- All units offer 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
Current Use
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 - Three two-story buildings offer two-bedroom units, select balconies, fenced courtyards, and recently refinished stucco.
Where is this apartment building located?
The property is located at 16-1460 Benton St 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 complex on over a 1/2 acre; 15012 square feet across three separate 2‑story buildings; All units offer 2 bedrooms and 1 bathroom
