Classic Multi-Unit Investment
251 11th Street Idaho Falls, ID 83403
251 11th Street, Idaho Falls, ID, 83403
$265,000
Pending
For Sale
$265,000
Pending
MULTI_FAMILY - Idaho Falls, ID
Property Size2,200 SF
Lot Size0.21 Acres
Days on Market13
Property Features for 251 11th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 4
- Rooms
- Bathroom 1, Bedroom 2, Basement, Bathroom 2, Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 4, Bathroom 3
- Parking
- 2
- Parking features
- Off Street
- Basement
- Full, Unfinished
- Appliances
- Refrigerator, Oven
- Standard status
- Pending
- APN
- RPA0540038035A
- Size
- 2,200 SF
- Lot size
- 0.21 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- LOTS 35-37, BLOCK 38, CROWS ADDITION
- Tax Annual Amount
- 3979
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Water source
- Public
Building Details
- Year built
- 1916
- Number of units
- 4
- Building materials
- Frame, Wood Siding
- Roof type
- Metal
Listing Agency
Keller Williams Realty East Idaho
(208) 529-8888
3525 Merlin Drive, Idaho Falls, ID
Listed by
Chris Schmalz Real Estate Group
(208) 529-8888
Added: Jul 4 Checked: Jul 16 at 6:06 pm
MLS# 2186647
Listing URL
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 classic multi-unit property, built in 1912, offers a blend of timeless character and income potential. The property features four studio apartments of similar size, with two units located upstairs and two downstairs. Three units are currently occupied, providing immediate rental income, while Unit 1 is vacant and ready for showings. Current tenants are on a month-to-month lease. The property showcases vintage appeal with a large covered front porch, mature trees, and a well-established lawn. A two-car garage and unfinished basement offer additional storage and future possibilities. The owner currently pays the gas utilities for the rental units. Situated on a 0.21-acre lot, the property offers a functional layout and income-producing potential. The property size is 2200 square feet. This historic investment property is located in Idaho Falls, ID 83403, Bonneville County. It presents an opportunity to expand an investment portfolio or occupy a unit while generating rental income.
Key Highlights
- 1916 multi‑unit property with four studio apartments; two upstairs and two downstairs.
- Three units currently occupied with month‑to‑month leases; Unit 1 is vacant for easy showings.
- Large covered front porch plus mature trees and an established lawn.
Local 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 | $27.7k | $12.60 |
| − Vacancy | −$1.2k | −$0.57 |
| EGI | $26.5k | $12.03 |
| − OpEx | −$7.9k | −$3.61 |
| NOI | $18.5k | $8.42 |
2,200 SF · lease $12.60/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$264.7K
$231.6K – $308.9K
NOI $18,531 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$239.5K
$209.5K – $279.4K
NOI $16,762 @ 7.0% cap · market cap 6.33%
Theoretical Best
Office A
$486.1K
$425.3K – $567.1K
NOI $34,024 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Charming 4-unit property with income potential in Idaho Falls.
Where is this quadplex located?
The property is located at 251 11th Street Idaho Falls, ID.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 1916 multi‑unit property with four studio apartments; two upstairs and two downstairs.; Three units currently occupied with month‑to‑month leases; Unit 1 is vacant for easy showings.; Large covered front porch plus mature trees and an established lawn.
