400 N Eastern Avenue, Idaho Falls, ID 83402

400 N Eastern Ave presents a unique investment opportunity with five income-producing spaces currently configured within a historic multifamily property, offering flexibility for investors seeking cash flow and future upside. The property includes a mix of studio, one- and two-bedroom style units, with one upper-level configuration with two private living spaces (bedrooms/kitchen) that share a common bathroom, creating an opportunity for buyers to evaluate the property as a 4-plex layout for certain financing scenarios while benefiting from existing rental income (buyer to verify with lender). The property has been professionally managed and features low operating expenses, established tenancy, shared laundry access, and commercial zoning that allows for a variety of permitted uses. Several units have been updated over time, while others provide value-add potential through cosmetic improvements and rent optimization. Located near downtown Idaho Falls amenities, this property offers investors the chance to improve performance through vacancy stabilization, strategic updates, and lease adjustments. Whether expanding a portfolio or seeking a multifamily asset with upside potential, this property offers flexibility that is increasingly difficult to find at this price point!