USAIDIdaho FallsOriginal Townsite224 S Water Ave
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$1,100,000

For Sale

5 hours ago

224 S Water Ave, Idaho Falls, ID

House

MLS® 2187531

12 Bed

10 Bath

5900 sqft

2 Parking

  • Key Facts
  • Description
  • Map

Key Facts

Type Multi Family
Levels Residential Income
Size 5900 sqft
Garage Yes
Taxes $4,489
Days Active 0
Lot Size 0.3558 Acres
Approx. Age 1940
Avg. Price Per Sqft $186
MLS® Number 2187531

Property Address: 224 S Water Ave, Idaho Falls, ID, 83402-4171

Average square foot calculated using Size range provided by listing agent.

Description

Don't miss this exceptional opportunity to acquire a multi-family portfolio in the heart of Idaho Falls. This offering packages three separate buildings and a detached garage into one powerful income producing asset: 224 S Water Ave, 240 S Water Ave, 170 Maple St, and a bonus detached 2-stall garage. The numbers speak for themselves. With 8 of 10 units currently active, including a cash-flowing Airbnb unit, the portfolio generates $8, 175/month ($98, 100/year) in gross rent at over a 7.12% cap rate. Two units are actively being marketed, and once filled, the stabilized cap rate climbs to almost 10%. 5, 900 total square feet across the portfolio means low price-per-square-foot and room to grow. Every unit is move-in ready and comes with a refrigerator and range. Tenants enjoy individual units across well-maintained separate buildings with off-street parking. With no HOA, public utilities, low 2025 taxes of just $4, 489, and leases already in place, the heavy lifting is done. Whether you're deploying a 1031 exchange, adding to an existing portfolio, or making your first commercial-scale move this is the kind of asset that holds value, attracts tenants, and quietly builds wealth.
MLS® Number2187531
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
GarageYes
Approx. Age1940
BasementFinished, Partial
Driveway
Garage Spaces
HeatElectric
A/CNone

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Jul 3, 2026List Date
$1,100,000List Price
  • Commute

Commute

Starting Address
Destination Address
224 S Water Ave, Idaho Falls, ID

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