Historic Apartment
For Sale
$1,750,000
Pending
525 Walnut Street, Idaho Falls, ID 83402
MULTI_FAMILY - Idaho Falls, ID
Property Size15,867 SF
Lot Size0.29 Acres
Days on Market14
Property Features for 525 Walnut Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
General Zoning: Tn-Trad Neigh, Specific Zoning: Idaho Falls-Tn-Traditional Nbh
Bedrooms
18
Bathrooms
27
Full bathrooms
27
Rooms
Bedroom 10, Bathroom 6, Basement, Bedroom 7, Bathroom 4, Bedroom 15, Bathroom 23, Bathroom 8, Bathroom 10, Bathroom 22, Bedroom 5, Bathroom 3, Bathroom 16, Bedroom 3, Bathroom 15, Bathroom 2, Bedroom 14, Bedroom 2, Bathroom 25, Bedroom 13, Bathroom 1, Bathroom 5, Bedroom 1, Bedroom 4, Bathroom 9, Bathroom 24, Bathroom 14, Bathroom 13, Bathroom 21, Bathroom 19, Bathroom 18, Bathroom 26, Bathroom 12, Bedroom 18, Bedroom 12, Bathroom 7, Bathroom 17, Bathroom 20, Bedroom 9, Bedroom 16, Bathroom 11, Bathroom 27, Bedroom 8, Bedroom 6, Bedroom 11, Bedroom 17
Parking
20
Parking features
Off Street
Basement
Finished, Unfinished
Subdivision
Original Townsite
Lot features
High Traffic, Concrete Curbing, Established Lawn, Sprinkler System- Full, Corner Lot
Elementary school
Hawthorne 91EL
Middle school
Eagle Rock 91JH
High school
Idaho Falls 91HS
Directions
North on S Boulevard past 17th Street to left on Walnut. Please do not disturb Tenants. 24 hour notice and Property Manager to help schedule appointments
Standard status
Pending
APN
RPA17400550055A
Size
15,867 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
S 47.5' LOT 5 LESS NE PART, LOT 6, BLOCK 55, ORIGINAL TOWN SW1/4, SEC
Tax Annual Amount
13185
Legal Description
S 47.5' LOT 5 LESS NE PART, LOT 6, BLOCK 55, ORIGINAL TOWN SW1/4, SEC
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard, Electric (Heating)
Water source
Public
Building Details
Year built
1928
Number of units
27
Building materials
Brick
Roof type
Membrane
Listing Agency:
Century 21 High Desert · Century 21 Real Estate
(208) 524-2121
Listed By:
Kerry Howell · License #23797
(208) 524-2121
Added: Jul 17
Changed: Jul 28
Last Checked: Jul 30 at 5:06PM
MLS# 2187865
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.
Investment Insights
Based on property information with market context.
This historic all-brick apartment investment property is known as the Avalon Apartments and offers 27 units. The building includes recent upgrades such as vinyl windows, elimination of the boiler system, on-demand tankless water heaters, a membrane roof, all new plumbing, and a sprinkler system. A coin-operated laundry is located on the lower level. Each unit has its own electrical meter and electric heat, supporting independent unit metering.
Three of the units are located in a separate building adjacent to the main structure. The property is situated in Idaho Falls near downtown.
The information provided indicates a total of 27 units across the main building and an adjacent structure.
Three of the units are located in a separate building adjacent to the main structure. The property is situated in Idaho Falls near downtown.
The information provided indicates a total of 27 units across the main building and an adjacent structure.
Key Highlights
- 27‑unit all‑brick investment property known as Avalon Apartments in Historic Idaho Falls, close to downtown
- Recent upgrades include vinyl windows, membrane roof, new plumbing, and a sprinkler system
- On‑demand tankless water heaters added; elimination of boiler system
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 | $228.5k | $14.40 |
| − Vacancy | −$8.7k | −$0.55 |
| EGI | $219.8k | $13.85 |
| − OpEx | −$98.9k | −$6.23 |
| NOI | $120.9k | $7.62 |
15,867 SF · lease $14.40/SF/yr · vacancy 3.80% · expense 45.00%
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
1,579
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 - All-brick 27-unit apartment property with individual electric meters, electric heat, and on-site coin-operated laundry.
Where is this apartment building located?
The property is located at 525 Walnut Street 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 all‑brick investment property known as Avalon Apartments in Historic Idaho Falls, close to downtown; Recent upgrades include vinyl windows, membrane roof, new plumbing, and a sprinkler system; On‑demand tankless water heaters added; elimination of boiler system
