Twin Falls Multi-Unit Investment
564 S Blue Lakes Blvd, Twin Falls, ID 83301
MULTI_FAMILY - Twin Falls, ID
Property size:
4,825 SFLot size:
4.00 AcresPrice / SF:
$165/SF- Added:
- Mar 13, 2026
- Days on Market:
- 73
- Last Refresh:
- May 24 at 8:06 pm
Property Features for 564 S Blue Lakes Blvd
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 9
- Bathrooms
- 5
- Rooms
- Bathroom 5, Bathroom 4, Bedroom 6, Bedroom 4, Bathroom 1, Bedroom 1, Bedroom 7, Bedroom 9, Bathroom 2, Bedroom 2, Bedroom 5, Bedroom 8, Bedroom 3, Bathroom 3
- Parking
- 8
- Parking features
- RV
- Fencing
- Fenced
- Fireplace
- 1
- Appliances
- Disposal (No Units), Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (No Units)
- Standard status
- Active
- APN
- RP10S17E217280
- Size
- 4,825 SF
- Lot size
- 4.00 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- Sec 21 T 10 R 17 S1/2 N 1/2 NE NE SE, EXC NE 100' x250' & EXC E 30' HWY
- Tax Annual Amount
- 3309
Utilities
- Sewer type
- Septic Tank
- Heating system
- Natural Gas, Fireplace(s), Forced Air, Wood, Baseboard
- Cooling system
- Central Air
- Water source
- Well
- Water front features
- Pond
Building Details
- Year built
- 1948
- Number of units
- 3
- Flooring type
- Vinyl
- Building materials
- Stone, Wood Siding
- Roof type
- Composition, Wood, Metal
Listing agent Heidi Casdorph License #sp42626 (208) 420-8978
Listing office Century 21 Gateway 321 Eastland Dr., Twin Falls, ID (208) 733-5600
Listing date Mar 13, 2026
MLS# 98977946
Listing URL
Copyright © 2026 Intermountain Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Strong income potential from a fully rented triplex on 4 acres.
- Three separately metered units offer flexibility for investors or owner‑occupants.
- Main home features 4 bedrooms, 2 bathrooms, fresh paint, updated systems, and nearly 1,000 sq ft of insulated garage space.
- Spacious 3‑bedroom, 2‑bath unit above the garage with air conditioning, updated kitchen, private deck, and fresh paint/carpet.
- Charming 2‑bedroom, 1‑bath lava rock home with a new roof, fresh carpet, and strong rental history.
- Located minutes from town with additional features such as a pond, RV parking, and a fenced yard.
Overview
This multi-unit property in Twin Falls, Idaho, presents a strong investment opportunity. Situated on 4 acres, this rare property is located just minutes from town and offers strong income potential with room to grow. The triplex features three separately metered units, providing flexibility for investors or owner-occupants. The main home includes 4 bedrooms and 2 bathrooms, featuring fresh interior paint, updated systems, and nearly 1,000 square feet of insulated garage space, suitable for storage, workspace, or additional rental opportunities. Above the garage, there is a spacious 3-bedroom, 2-bath unit equipped with air conditioning, an updated kitchen, fresh paint and carpet, and a private deck, ideal for long-term tenants, short-term rentals, or extended living arrangements. The third unit is a charming 2-bedroom, 1-bath lava rock home that has a new roof, fresh carpet and a strong rental history. The property is currently fully rented, with leases expiring in April 2026.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$494.6K
NOI $44,512 @ 9.00% cap · cautious / downside scenario
Moderate
$635.9K
NOI $44,512 @ 7.00% cap · market / base-case scenario
Aggressive
$890.2K
NOI $44,512 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $66.6k | $13.80 |
| − Vacancy | −$3.0k | −$0.62 |
| EGI | $63.6k | $13.18 |
| − OpEx | −$19.1k | −$3.95 |
| NOI | $44.5k | $9.23 |
4,825 SF · lease $13.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$635.9K
$556.4K – $741.9K
NOI $44,512 @ 7.0% cap · market cap 5.56%
Second Best
Apartment 5plus
$572.1K
$500.6K – $667.5K
NOI $40,048 @ 7.0% cap · market cap 5.01%
Theoretical Best
Specialty Retail
$1.11M
$968.5K – $1.29M
NOI $77,481 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
O-ki Japanese Cuisine ...
Restaurant
O-Ki Teppanyaki & Sushi
Restaurant
Location Insight
- Map
- Local Demand
- City
- Twin Falls
- County
- Twin Falls
- State
- Idaho
- Longitude
- -114.461021
- Latitude
- 42.540391
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Rare triplex on 4 acres with income potential.
Where is this triplex located?
The property is located at 564 S Blue Lakes Blvd Twin Falls, ID.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: Strong income potential from a fully rented triplex on 4 acres.; Three separately metered units offer flexibility for investors or owner‑occupants.; Main home features **4 bedrooms, 2 bathrooms, fresh paint, updated systems, and nearly 1,000 sq ft of insulated garage space.**
