Renovated Apartment
For Sale
$4,250,000
350 E Street, Idaho Falls, ID 83402
Residential Income, Idaho Falls, ID
Property Size22,578 SF
Lot Size0.41 Acres
Price / SF$188.24
Days on Market110
Property Features for 350 E Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
General Zoning: If Central Commerc, Specific Zoning: Idaho Falls-Cc-Central Commer
Bedrooms
27
Bathrooms
27
Full bathrooms
27
Rooms
Bathroom 2, Bedroom 12, Bathroom 25, Bedroom 23, Bedroom 21, Bedroom 27, Bedroom 7, Bedroom 18, Bathroom 1, Bathroom 15, Bedroom 1, Bathroom 14, Bedroom 19, Basement, Bathroom 11, Bedroom 10, Bedroom 9, Bathroom 9, Bathroom 6, Bedroom 25, Bedroom 22, Bedroom 17, Bathroom 12, Bathroom 17, Bedroom 4, Bathroom 19, Bathroom 27, Bathroom 20, Bedroom 11, Bedroom 26, Bathroom 13, Bathroom 22, Bedroom 5, Bathroom 21, Bathroom 4, Bedroom 24, Bathroom 5, Bedroom 15, Bathroom 10, Bathroom 3, Bathroom 24, Bathroom 26, Bedroom 20, Bathroom 7, Bedroom 16, Bedroom 6, Bedroom 13, Bathroom 18, Bedroom 3, Bathroom 23, Bathroom 16, Bedroom 8, Bedroom 14, Bathroom 8, Bedroom 2
Parking
28
Parking features
Off Street
Interior features
Ceiling Fan(s), Newly Renovated, Storage
Exterior features
Lighting
Basement
Partially Finished, Full
Appliances
Common Water Heaters, Dishwasher, Microwave, Refrigerator, Oven
Subdivision
Railroad Addition-Bon
Lot features
Interstate Exit/ Access, Near Green Belt, Near Mall/ Shop, Near Park, Near Public Transit, Near Stream/ River, Concrete Curbing, Level
Elementary school
Hawthorne 91EL
Middle school
Eagle Rock 91JH
High school
Idaho Falls 91HS
Directions
-
Standard status
Active
APN
RPA1980007008B
Size
22,578 SF
Lot size
0.41 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Description
13,692 SQ FT LOTS 9-11, BLOCK 7 & E 30 FT LOT 8, BLOCK 7
Tax Annual Amount
24599
Legal Description
13,692 SQ FT LOTS 9-11, BLOCK 7 & E 30 FT LOT 8, BLOCK 7
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Ductless (Heating)
Cooling system
Ductless, Zoned
Water source
Public
Amenities
secured access
high-speed fiber internet
free laundry
assigned parking
individual storage
Building Details
Year built
1948
Number of units
27
Building materials
Stucco
Roof type
Membrane
Additional Structures
Storage
Buildings
1
Listing Agency:
Armstrong Flinders and Associates
(801) 375-1075
Listed By:
Matthew Flinders
(801) 636-3709
Added: Jul 12
Changed: Oct 28
Last Checked: Oct 29 at 6:06AM
MLS# 2185323
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.
The Wellington is a 27-unit apartment building spanning 22,578 square feet on 0.41 acres. Originally built in 1948, the property was renovated in 2022 and includes studio and one-bedroom residences with 9-foot ceilings, sound-dampened walls, LED lighting, secured entry, and individual storage. Apartment and building features include ductless heating and cooling, heat pumps, zoned cooling, common water heaters, dishwashers, microwaves, refrigerators, and ovens. Residents also have access to high-speed fiber internet, shared laundry, and assigned parking.
Located in downtown Idaho Falls, the property is one block from the Riverwalk and within walking distance of the Museum of Idaho, dining, bars, shops, the farmers market, and the public library. Public water and sewer serve the building, which has a membrane roof, stucco construction, and off-street parking.
Located in downtown Idaho Falls, the property is one block from the Riverwalk and within walking distance of the Museum of Idaho, dining, bars, shops, the farmers market, and the public library. Public water and sewer serve the building, which has a membrane roof, stucco construction, and off-street parking.
Key Highlights
- 27‑unit apartment building with studios and 1‑bedroom residences
- 22,578 square feet on 0.41 acres
- Renovated in 2022 with 9‑foot ceilings, LED lighting, and sound‑dampened walls
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$172,023
Cap Rate
4.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,440,460
$3.4M
Cap Rate 7%
$2,457,471
$2.5M
Cap Rate 9%
$1,911,367
$1.9M
Market Conditions
NOI Build-Up for 22,578 SF
Gross rent
$325.1K $14.40/SF
− Vacancy
−$12.4K −$0.55/SF
EGI
$312.8K $13.85/SF
− OpEx
−$140.7K −$6.23/SF
NOI
$172.0K $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%
$3,440,460
Cap Rate 7%
$2,457,471
Cap Rate 9%
$1,911,367
Alternative Uses
Best Use
Apartment 5plus
$2.46M
$2.15M – $2.87M
NOI $172,023 @ 7.0% cap · market cap 4.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.99M
$4.36M – $5.82M
NOI $349,182 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
27
Residential units
Location Intelligence
Trade Area within ½ mile
1,589
Businesses Nearby
Explore this area
Business Placement
Demographics for 83402, ID
28,452
Population
11,983
Households
2.4
Avg Household Size
34
Median Age
31%
College-Educated
92%
High-School Grad
171.0 sq mi
ZIP Area
166
Density / Sq Mi
$72,064
Median Household Income
$35,593
Median Earnings
$904
Median Rent
$301,400
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 - Twenty-seven studios and one-bedroom apartments feature secured access, assigned parking, storage, and shared laundry facilities.
Where is this apartment building located?
The property is located at 350 E Street Idaho Falls, ID.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: 27‑unit apartment building with studios and 1‑bedroom residences; 22,578 square feet on 0.41 acres; Renovated in 2022 with 9‑foot ceilings, LED lighting, and sound‑dampened walls
