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    Multifamily Property in Idaho Falls Title is generated by Realmo AI

    400 N Eastern Avenue, Idaho Falls, ID 83402

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    For Sale
    $399,000

    MULTI_FAMILY - Idaho Falls, ID

    Property size:
    3,028 SF
    Lot size:
    0.09 Acres
    Price / SF:
    $131/SF
    Added:
    May 19, 2026
    Days on Market:
    3
    Last Refresh:
    May 21 at 2:06 am

    Property Features for 400 N Eastern Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    7
    Bathrooms
    5
    Rooms
    Bathroom 3, Bathroom 1, Bathroom 4, Bedroom 7, Bedroom 4, Bedroom 1, Bedroom 6, Bathroom 2, Bathroom 5, Bedroom 5, Bedroom 3, Bedroom 2, Basement
    Interior features
    Ceiling Fan(s)
    Basement
    Exterior Entry, Partially Finished
    Appliances
    Common Water Heaters, Microwave, Refrigerator, Stove
    Standard status
    Active
    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

    We can help!

    Listing Contact
    Karen Liester

    Listing agent Karen Liester

    Listing office Keller Williams Realty East Idaho 3525 Merlin Drive, Idaho Falls, ID

    Listing date May 19, 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

    • Great Location on Major Hwy
    • Rustic and Ready
    • Various types of businesses will fit
    • Over 2 Acres
    • Fully furnished with equipment, tables, chairs etc.
    • Turn Key Operations

    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.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Idaho Falls
    County
    Bonneville
    State
    Idaho
    Longitude
    -112.0370014
    Latitude
    43.4920858

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    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: Great Location on Major Hwy; Rustic and Ready; Various types of businesses will fit
    (208) 529-8888
    We can help!
    Listing Contact
    Karen Liester
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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