224 S Water Ave

Idaho Falls, ID 83402

  • $995,000

    Price

  • 12

    Bed

  • 10

    Bath

  • 5,900

    SqFt

  • 0.36

    Acre

Listing Provided Courtesy of Eli Dahlin 208-523-6111 - Silvercreek Realty Group 208-523-6111

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About the Listing 3003 - 3003_9965

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.

Listing Highlights for 224 S Water Ave

Status Active
Days on Site 119
Property Type Multi-Family
MLS ® 2187531
Year Built 1940
Total Square Footage 5,900
Lot/Acreage 0.36
County Bonneville
Neighborhood Original Townsite
Elementary School Hawthorne 91EL
Middle School Taylor View 91JH
High School Idaho Falls 91HS

Interior Details

  • Bedrooms: 12
  • Bathrooms: 10 Full
  • Appliances:
  • Air Cond:
  • Heating: Electric
  • Fireplaces:
  • Floor:
  • Above Ground Sq Ft: 5300
  • Below Ground Sq Ft: 600
  • Basement: Finished,Partial
  • Other:
  • Water: Public

Exterior Details

  • Garage Capacity: 2 car
  • Parking Spaces: 2
  • Zoning: General Zoning: Not Verified,Specific Zoning: Not Verified
  • Roof: Membrane,Metal
  • Others:
  • Sewer: Public Sewer

Financial Details

  • Tax Amount: $4,489
  • Taxes w/Assessments: N/A
  • Tax/Property ID: RPA1740020010A
  • Tax Year: 2025

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224 S Water Ave Idaho Falls, ID 83402

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Listing Courtesy of Eli Dahlin 208-523-6111 - Silvercreek Realty Group 208-523-6111

Originating MLS: Snake River

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224 S Water Ave

Idaho Falls, ID 83402

$995,000

12 Bed | 10 Bath | 5,900 SqFt

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224 S Water Ave

Idaho Falls, ID 83402

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224 S Water Ave

Idaho Falls, ID 83402

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