Multifamily Property in Idaho
400 N Eastern Avenue, Idaho Falls, ID 83402
- Added:
- Jun 1, 2026
- Days on Market:
- 37
- Last Refresh:
- Jul 7 at 3:06 am
Property Features for 400 N Eastern Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 7
- Bathrooms
- 5
- Rooms
- Bedroom 5, Bedroom 4, Bedroom 3, Basement, Bedroom 2, Bathroom 2, Bathroom 3, Bedroom 1, Bathroom 5, Bedroom 7, Bedroom 6, Bathroom 4, Bathroom 1
- Interior features
- Ceiling Fan(s)
- Basement
- Partially Finished, Exterior Entry
- Appliances
- Common Water Heaters, Microwave, Refrigerator, Stove
- Standard status
- Pending
- APN
- RPA1740025006A
- Size
- 3,028 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- W 81' LOT 6, BLOCK 25, ORIGINAL TOWN NW1/4, SEC 19, T 2N, R 38
- Tax Annual Amount
- 4193
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Heat Pump (Heating)
- Water source
- Public
Building Details
- Year built
- 1900
- Number of units
- 5
- Flooring type
- Hardwood
- Building materials
- Block, Frame, Block
- Roof type
- Metal
Listing agent Karen Liester (208) 529-8888
Listing office Keller Williams Realty East Idaho 3525 Merlin Drive, Idaho Falls, ID (208) 529-8888
Listing date Jun 1, 2026
MLS# 2186425
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.
HighLights
- 400 N Eastern Ave historic multifamily with five income‑producing spaces and a mix of studio, 1- and 2‑bedroom style units
- One upper‑level configuration includes two private living spaces (bedrooms/kitchen) sharing a common bathroom—may be evaluated as a 4‑plex for some financing scenarios
- Profressionally managed with established tenancy and shared laundry access; includes public water and public sewer
- Several units updated over time, with additional value‑add potential through cosmetic improvements and rent optimization (buyer to verify with lender)
- Year built 1900; block and frame construction with metal roof; hardwood flooring and ceiling fans
- Heating includes natural gas and heat pump; appliances include microwave, refrigerator, and stove; common water heaters
Overview
The property at 400 N Eastern Ave in Idaho Falls, ID, presents an investment opportunity with five income-producing spaces within a historic multifamily building. The property features a mix of studio, one- and two-bedroom style units. One upper-level configuration includes two private living spaces (bedrooms/kitchen) that share a common bathroom. This layout allows potential buyers to evaluate the property as a 4-plex for financing purposes, subject to lender verification, while benefiting from existing rental income. The property has been professionally managed and features low operating expenses, established tenancy, and shared laundry access. The commercial zoning allows for a variety of permitted uses. Several units have been updated, while others offer value-add potential through cosmetic improvements and rent optimization. Located near downtown Idaho Falls amenities, this property offers the chance to improve performance through vacancy stabilization, strategic updates, and lease adjustments. The lot size is 0.09 acres, and the property size is 3028 square feet.
Local Financial Insights For Apartment 5plus
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 | $43.6k | $14.40 |
| − Vacancy | −$1.7k | −$0.55 |
| EGI | $41.9k | $13.85 |
| − OpEx | −$18.9k | −$6.23 |
| NOI | $23.1k | $7.62 |
3,028 SF · lease $14.40/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$329.6K
$288.4K – $384.5K
NOI $23,070 @ 7.0% cap · market cap 5.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$669.0K
$585.4K – $780.5K
NOI $46,830 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Idaho Falls
- County
- Bonneville
- State
- Idaho
- Longitude
- -112.0370014
- Latitude
- 43.4920858
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Income-producing multifamily property with value-add potential near downtown amenities.
Where is this apartment building located?
The property is located at 400 N Eastern Avenue Idaho Falls, ID.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 400 N Eastern Ave historic multifamily with five income‑producing spaces and a mix of studio, 1- and 2‑bedroom style units; One upper‑level configuration includes two private living spaces (bedrooms/kitchen) sharing a common bathroom—may be evaluated as a 4‑plex for some financing scenarios; Profressionally managed with established tenancy and shared laundry access; includes public water and public sewer
