12-Unit Apartment
For Sale
$1,200,000
280 1st Street, Idaho Falls, ID 83401
Residential Income, Idaho Falls, ID
Property Size8,752 SF
Lot Size0.22 Acres
Price / SF$137.11
Days on Market48
Property Features for 280 1st Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
General Zoning: Bonneville Residen, Specific Zoning: Ammon R2 Residence Zone
Bedrooms
12
Bathrooms
12
Full bathrooms
12
Rooms
Bathroom 1, Bathroom 2, Bathroom 9, Bedroom 2, Bedroom 11, Bedroom 3, Bathroom 11, Bedroom 12, Bathroom 3, Bedroom 6, Bedroom 4, Bedroom 5, Basement, Bedroom 10, Bathroom 10, Bathroom 12, Bedroom 1, Bathroom 8, Bedroom 9, Bedroom 8, Bathroom 6, Bathroom 7, Bedroom 7, Bathroom 4, Bathroom 5
Basement
Partial, Finished
Subdivision
Crows Addition-Bon
Elementary school
Dora Erickson Elementary School
Middle school
Taylor View 91JH
High school
Idaho Falls 91HS
Directions
From I-15, take Exit 118 (Broadway Street) and head east into downtown Idaho Falls. Follow Broadway for about 1.5 miles, then turn onto 1st Street. the property is just off Broadway near the river, on the north side of downtown.
Standard status
Active
APN
RPA0540003004A
Size
8,752 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 4-6, BLOCK 3, CROWS NE1/4, SEC 19, T 2N, R 38 UNITS 12
Tax Annual Amount
11895
Legal Description
LOTS 4-6, BLOCK 3, CROWS NE1/4, SEC 19, T 2N, R 38 UNITS 12
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard
Water source
Public
Building Details
Year built
1920
Number of units
12
Building materials
Frame, Vinyl Siding
Roof type
Membrane, Metal
Listing Agency:
Silvercreek Realty Group
Listed By:
Eli Dahlin
(208) 523-6111
Added: Sep 3
Changed: Oct 16
Last Checked: Oct 20 at 6:06PM
MLS# 2189005
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.
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Investment Insights
Based on property information with market context.
This 12-unit apartment property contains 8,752 square feet on a 0.2152-acre site in Idaho Falls. Constructed in 1920, the building uses frame construction with vinyl siding and includes membrane and metal roofing. Heating is provided through electric baseboard systems.
The property is located at 280 1st Street in Idaho Falls, Idaho, within Bonneville County. Public water and public sewer serve the asset. Professional management is already in place, providing an established operating arrangement for the multifamily property.
The property is located at 280 1st Street in Idaho Falls, Idaho, within Bonneville County. Public water and public sewer serve the asset. Professional management is already in place, providing an established operating arrangement for the multifamily property.
Key Highlights
- 12‑unit apartment property
- 8,752 square feet on a 0.2152‑acre site
- Built in 1920 with frame construction and vinyl siding
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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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 public water and sewer in Idaho Falls.
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 apartment property; 8,752 square feet on a 0.2152‑acre site; Built in 1920 with frame construction and vinyl siding
