27-Unit Apartment
For Sale
$1,750,000
Pending
525 Walnut St # 27, Idaho Falls, ID 83402
Brick multifamily property near downtown with upgraded building systems and coin-operated laundry.
Property Size15,867 SF
Days on Market47
Property Features for 525 Walnut St # 27
General Information
Standard status
Pending
Size
15,867 SF
Property subtype
Multi-Family
Additional Details
Sprinkler System
Yes
Multifamily Units
27
Amenities
coin-operated laundry
Building Details
Year Built
1928
Construction
brick
Listing Agency:
Century 21 High Desert
(208) 524-2121
Listed By:
Kerry Howell · License #23797
Source:
Idahohomerealty
Added: Jul 16
Changed: Aug 28
Last Checked: Aug 29 at 10:33AM
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 Century 21 High Desert
Investment Insights
Based on property information with market context.
The Avalon Apartments comprise a 27-unit, all-brick multifamily property built in 1928. Three units are housed in a separate adjacent building, while the main structure includes coin-operated laundry facilities on the lower level. Recent property improvements include vinyl windows, a membrane roof, new plumbing, a sprinkler system, and on-demand tankless water heaters following removal of the boiler system. Individual electrical meters serve each unit, which uses electric heat.
The property is located at 525 Walnut St in Idaho Falls, close to downtown and within the city’s central area. The combination of two-building unit placement, updated building systems, resident laundry, and separately metered electricity defines the current configuration.
The property is located at 525 Walnut St in Idaho Falls, close to downtown and within the city’s central area. The combination of two-building unit placement, updated building systems, resident laundry, and separately metered electricity defines the current configuration.
Key Highlights
- 27‑unit apartment property built in 1928
- All‑brick building with 3 units in a separate adjacent structure
- Recent membrane roof, vinyl windows, new plumbing, and sprinkler system
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$120,891
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.91%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,417,820
$2.4M
Cap Rate 7%
$1,727,014
$1.7M
Cap Rate 9%
$1,343,233
$1.3M
Market Conditions
NOI Build-Up for 15,867 SF
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.
Gross rent
$228.5K $14.40/SF
− Vacancy
−$8.7K −$0.55/SF
EGI
$219.8K $13.85/SF
− OpEx
−$98.9K −$6.23/SF
NOI
$120.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,417,820
Cap Rate 7%
$1,727,014
Cap Rate 9%
$1,343,233
Alternative Uses
Best Use
Apartment 5plus
$1.73M
$1.51M – $2.01M
NOI $120,891 @ 7.0% cap · market cap 6.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.51M
$3.07M – $4.09M
NOI $245,393 @ 7.0% cap · market cap 14.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
27
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,504
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Brick multifamily property near downtown with upgraded building systems and coin-operated laundry.
Where is this apartment building located?
The property is located at 525 Walnut St # 27 Idaho Falls, ID.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 27‑unit apartment property built in 1928; All‑brick building with 3 units in a separate adjacent structure; Recent membrane roof, vinyl windows, new plumbing, and sprinkler system
