141 2nd W Rexburg, ID 83440-1527

Property Details for 141 2nd W

Lot size

2.35 lot acres

Property type

Commercial real estate

APN

RPRRXB10250010

APU

RPRRXB10250010

Description

This exceptional Rexburg, Idaho property, located at 141 S 2nd E, presents a unique investment opportunity due to its approved mixed-use zoning. The 2,322 square foot property, built in 1950 and renovated in 2021, sits on a 0.254-acre lot and includes two buildings. Currently configured as a single-family rental with six tenants, the property offers significant potential for diverse uses. The zoning permits up to seven units, allowing for conversion into a multi-family rental, commercial space (such as offices or a clinic), or a combination of both. The property's proximity to Brigham Young University-Idaho (BYUI), the hospital, and Main Street enhances its commercial viability. The detached garage offers additional development potential, possibly as a studio apartment or additional parking. The property includes six parking spaces, and a back alley easement provides convenient backyard access. Original hardwood floors and built-in storage are among the property's attractive features. While parking stalls in the backyard are subject to a restrictive covenant with the Abri Complex, the covenant is being modified to only affect the parking stalls, not the entire property. The city has verified that the property is grandfathered in, allowing for flexibility in development choices, with a density allowance of 30 units per acre. The asking price is $399,400.