# 224 S Water Avenue, Idaho Falls, ID 83402

> **TL;DR:** 12bd/10ba residential multi family, $1,100,000 ($186/sqft), built 1940, 5,900 sqft. Est. $5,883/mo.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $1,100,000 |
| Price/sqft | $186 |
| Bedrooms | 12 |
| Bathrooms | 10 full |
| Square Feet | 5,900 |
| Year Built | 1940 |
| Lot Size | 15,499 sqft (0.36 acres) |
| Property Type | Residential Multi Family (Other) |
| Status | For Sale |
| Days on Market | 0 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Principal & Interest (20% down, 30-year at 6.5%) | $5,562 |
| Estimated Insurance | $321 |
| **Total** | **$5,883** |

## Nearby Schools

- **Elementary:** Hawthorne 91EL
- **Middle:** Taylor View 91JH
- **High:** Idaho Falls 91HS

## Property Highlights

- Built in 1940
- 0.36 acre lot
- 2 parking spaces

## Description

### 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.

## Location

- **Address:** 224 S Water Avenue, Idaho Falls, ID 83402
- **County:** Bonneville
- **Neighborhood:** Original Townsite
- **Coordinates:** 43.4880132, -112.0392377
- **Google Maps:** https://www.google.com/maps?q=43.4880132,-112.0392377

## Virtual Tour & Media

- **Video Tour:** www.zillow.com/view-imx/90606cc5-bc62-466e-8a97-040f993c984f?setAttribution=mls&wl=true&initialViewType=pano&utm_source=dashboard

## Listing Agent

- **Name:** Eli Dahlin
- **Brokerage:** Silvercreek Realty Group
- **Phone:** 2085236111

## Primary Photo

![224 S Water Avenue - Primary Photo](http://lh.rdcpix.com/ba3d16b88640b4cdd207881bca3c1376l-f603720760r.jpg)

*81 total photos available on [listing page](https://www.propertysimple.ai/listing/224-s-water-avenue-idaho-falls-id-83402-2187531)*

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**MLS#:** 2187531 | **Updated:** 2026-08-01
**Source:** listhub

*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.*

[View on PropertySimple](https://www.propertysimple.ai/listing/224-s-water-avenue-idaho-falls-id-83402-2187531)

---

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