788 S Broadway St - Apartments FOR SALE


Blackfoot, ID 83221
$9,800,000 USD
208-520-8636
788 S Broadway St, Blackfoot, ID for Sale
$9,800,000 USD
Apartments - FOR SALE
1/34
null | 6% Cap Rate

788 S Broadway St
Blackfoot, ID 83221


HIGHLIGHTS

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

OVERVIEW

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 $588,249 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.

FOR SALE DETAILS

PRICE

$9,800,000 USD

PRICE/SF

$253 USD /SF

# OF UNITS

38

PRICE/UNIT

$257,895

CAP RATE

6%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Building B

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

PARKING SPACES

75

LAND DETAILS

LAND ACRES

2.31 AC

LAND SF

100,763 SF

ZONING

C3

APN/PARCEL ID

RP1069601

ASK ABOUT THIS PROPERTY

Kris BertagnolliKeller WilliamsMore Info
208-520-8636

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Kris BertagnolliKeller WilliamsMore Info
208-520-8636

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.