12-Unit Multifamily
For Sale
$1,200,000
280 1st Street, Idaho Falls, ID 83401
Professionally managed residential income property with an established 12-unit configuration.
Property Size8,752 SF
Price / SF$137.11
Days on Market47
Property Features for 280 1st Street
General Information
Standard status
Active
Size
8,752 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
12
Building Details
Year Built
1920
Listing Agency:
Silvercreek Realty Group
Listed By:
Eli Dahlin · License #3003_9965
(208) 523-6111
Source:
Townsendrealtyteam
Added: Sep 5
Changed: Oct 3
Last Checked: Oct 20 at 5:37PM
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 Silvercreek Realty Group
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Investment Insights
Based on property information with market context.
Located at 280 1st Street in Idaho Falls, this multifamily property contains 12 residential units within 8,752 square feet. The building dates to 1920 and is described as well maintained, providing an established residential asset rather than new construction.
Professional management is already in place, supporting continuity of property operations. The property is situated in Idaho Falls, Idaho, and is offered as a multifamily investment with existing residential income use.
Professional management is already in place, supporting continuity of property operations. The property is situated in Idaho Falls, Idaho, and is offered as a multifamily investment with existing residential income use.
Key Highlights
- 12‑unit multifamily property
- 8,752 square feet of building area
- Built in 1920
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,682
Cap Rate
5.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,333,640
$1.3M
Cap Rate 7%
$952,600
$952.6K
Cap Rate 9%
$740,911
$740.9K
Market Conditions
NOI Build-Up for 8,752 SF
Gross rent
$126.0K $14.40/SF
− Vacancy
−$4.8K −$0.55/SF
EGI
$121.2K $13.85/SF
− OpEx
−$54.6K −$6.23/SF
NOI
$66.7K $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 Rate 5%
$1,333,640
Cap Rate 7%
$952,600
Cap Rate 9%
$740,911
Alternative Uses
Best Use
Apartment 5plus
$952.6K
$833.5K – $1.11M
NOI $66,682 @ 7.0% cap · market cap 5.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.93M
$1.69M – $2.26M
NOI $135,355 @ 7.0% cap · market cap 11.28%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
1,082
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
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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?
Apartment building - Professionally managed residential income property with an established 12-unit configuration.
Where is this apartment building located?
The property is located at 280 1st Street Idaho Falls, ID.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 12‑unit multifamily property; 8,752 square feet of building area; Built in 1920
