Wellington Manor on E Street
Wellington Manor on E Street
Marketing description
Wellington Manor - fully renovated 27-unit apartment building in downtown Idaho Falls, about a block from the river and Riverwalk Park, with stylish studios and 1-bedroom apartments designed for long-term renters, traveling nurses, and remote workers. Really nicely renovated in 2022 with 9’ceilings, sound-dampened walls, LED lighting, secured access, and efficient systems, this property offers low-maintenance operations. Every tenant enjoyshigh-speed fiber internet, free laundry, assigned parking, and individual storage. There is good strong rental demand here with high-credit tenants in place. Walkable to the Museum of Idaho, dining, farmers market, bars, shops, and the public library. Good opportunity for investors who just sold some property or a business and want some good steady income. Call to have us send you the Profit & Loss and other information. Sister property nearby also available. Parcels RPA1980007009A & RPA1980007008B
Investment highlights
Clean, Remodeled and Ready for YOU
Every major system is new: plumbing, electrical, HVAC, windows, roofs, and interiors.
Thoughtfully and nicely renovated down to the shell in 2023.
Brick exterior with modern interiors means durability plus tenant appeal.
Steady proven cash flow
Forecasted annual net income of ~$250,000 based on current operations.
Monthly net income averages over $20,000 per month.
Financials are based on real rent, real expenses for 3 years now.
27 units in a high-demand downtown location
23 one-bedroom units and 4 studios.
Walkable to restaurants, the river, riverwalk, entertainment, library, and downtown employers.
High-quality tenant base
Median tenant credit score around 739.
Median tenant income about $51,000.
Low-maintenance ownership
New systems mean fewer surprise repairs.
Tenants pay their own utilities; owner covers limited common areas and costs.
On-site laundry, security cameras, parking in the back, and private storage rooms in the basement already in place.
Growing market with real economic drivers
Idaho Falls population projected to grow 17.5% over the next decade.
Idaho National Laboratory adding lots of jobs.
All information is deemed reliable but not guaranteed. Buyer is advised to verify all information.
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