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788 S Broadway St
Blackfoot, ID 83221

$9,800,000 USD

Apartments For Sale  •  38,800 SF

Property Details

  • Property Type Apartments
  • Total Building Size 38,800 SF
  • Lot Size 2.31 AC
  • Building Class C
  • Year Built 2023
  • Zoning C3
0 Transit Score
54 Walk Score

Description

Introducing an exceptional investment opportunity in the rapidly growing Southeast Idaho market—this diversified income-generating asset package includes 38 high-demand single-family units, 40 fully occupied storage units, a cash-flowing laundromat, three well-leased apartments, and a commercial building with two stable tenants (including the Humane Society). With 2025 projected Net Operating Income at $487,179 and climbing to $582,249 by 2027, the portfolio currently supports a strong 6% cap rate on a $9.8M valuation, with future upside as rents increase across the board. Investors will also benefit from a $5M cost segregation opportunity, providing an estimated first-year depreciation deduction of $3.4M and a real tax savings of over $1.2M at a 35% tax rate—capitalizing on the potential continuation of bonus depreciation under favorable legislation. This turnkey asset is AppFolio-managed, HUD-financiable, and already producing over $57K in monthly gross rents, offering both immediate cash flow and significant long-term appreciation.

Highlights

Single-family rents grow from $1,232/month (2025) to $1,545/month (2027)
Apartments and commercial units have built-in escalators

Amenities

  • 24 Hour Access
  • Tenant Controlled HVAC
  • Heating
  • Kitchen
  • Refrigerator
  • Oven
  • Range
  • Freezer
  • Smoke Detector

Public Transportation

AirportDriveWalkDistance
Idaho Falls Regional 32 min - 29.6 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 75
Type: Surface
Included in Rent: Yes
Kris Bertagnolli 208-520-8636 Keller Williams
Kris Bertagnolli 208-520-8636 Keller Williams