$6,795,000
SOLD APR 3, 2025
Last list price

Rexburg, ID 83440

92 Beds
46 Baths
29,900 Sq Ft
1.59 Acres

Recently Sold

$227 Per Sq Ft

163 Days on Market

Highlights

  • Property is near a park
  • No HOA
  • Many Trees
  • Madison Senior High School Rated A-
  • Forced Air Heating System
  • Community Storage Space

About This Home

As of April 2025

Here is an opportunity that you do not want to miss. Introducing The Sugar Apartments. This 46 unit complex was constructed in 2003. It sits on 1.35 acres and is very centrally located to Rexburg hot spots such as Porter Park, Hemming Village, and a 5 min walk from the BYU Idaho Campus. The complex being offered at a 5.2% Cap rate. It is fully stabilized with great financials and a $363,000 NOI. The complex offers 88 total parking stalls and ample green space areas. On site there are 21 storage units that are rented separate and offer a convenient option for tenants. There is also an option with the current lender to match the loan terms with a new buyer, which includes a 4.35% interest rate.

Last Agent to Sell the Property

Luke Bloxham

Evolv Brokerage Listed on: 05/28/2024

Last Buyer's Agent

Ayden Rennaker

Real Estate Two70 License #SP52515

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $39,356

Year Built

  • Built in 2003

Lot Details

  • 1.59 Acre Lot
  • Sprinkler System
  • Many Trees

Parking

  • 88 Parking Spaces

Home Design

  • 29,900 Sq Ft Home
  • Architectural Shingle Roof
  • Vinyl Siding
  • Concrete Perimeter Foundation

Bedrooms and Bathrooms

  • 92 Bedrooms
  • 46 Full Bathrooms

Location

  • Property is near a park
  • Property is near schools

Schools

  • Kennedy 321El Elementary School
  • Madison 321Jh Middle School
  • Madison 321Hs High School

Utilities

  • No Cooling
  • Forced Air Heating System
  • Heating System Uses Natural Gas

Listing and Financial Details

  • Tenant pays for cable TV, electricity
  • The owner pays for common area maintenance, insurance, grounds care, sewer, snow removal, trash collection, water

Community Details

Overview

  • No Home Owners Association
  • 46 Units

Amenities

  • Community Storage Space

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$39,356

Year Built

Built in 2003

Lot Details

0

Listing Details

  • Has Basement: None
  • Prop. Type: Residential Income
  • Property Sub Type: Multi Family
  • Lot Size Acres: 1.59
  • Subdivision Name: None
  • Directions: From W 4th S Turn North onto S 4th W continue 100 yards and complex is on your right.
  • Above Grade Finished Sq Ft: 29900
  • New Construction: No
  • Year Built: 2003
  • Special Features: None

Interior Features

  • Appliances: Separate Water Heaters
  • Owner Pays: Common Area Maintenance, Insurance, Grounds Care, Sewer, Snow Removal, Trash Collection, Water
  • Full Bathrooms: 46
  • Total Bedrooms: 92
  • Living Area: 29900

Exterior Features

  • Roof: Architectural
  • Lot Features: Interstate Exit/Access, Near Park, Near Schools, Concrete Curbing, Established Lawn, Many Trees, Sprinkler-Auto
  • View: No
  • Construction Type: Vinyl
  • Foundation Details: Concrete Perimeter
  • Property Condition: Existing-Partly Updated

Garage/Parking

  • Total Parking Spaces: 88

Utilities

  • Sewer: Public Sewer
  • Laundry Features: Laundry Included
  • Cooling: None
  • Cooling Y N: No
  • Heating: Electric, Natural Gas, Forced Air, Separate Heat
  • Electric: Separate Power Meters, Rocky Mountain Power
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Additional Storage, Sidewalks
  • Senior Community: No
  • Association: No

Schools

  • Middle Or Junior School: Madison 321JH

Lot Info

  • Land Lease Amount Frequency: Monthly
  • Lot Size Sq Ft: 69260.4
  • Zoning Description: General Zoning: Res-Multi-Family,Specific Zoning: Rexburg-High Density Resid 1
  • ResoLotSizeUnits: Acres

Rental Info

  • Tenant Pays: Cable TV, Electricity

Tax Info

  • Tax Year: 2023
  • Tax Annual Amount: 39356

Multi Family

  • Number Of Units Total: 46
  • Above Grade Finished Area Units: Square Feet

MLS Schools

  • Elementary School: Kennedy 321EL
  • HighSchool: Madison 321HS

Range of Values:

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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/03/2025 04/03/25 Sold -- -- --
11/08/2024 11/08/24 Pending -- -- --
08/09/2024 08/09/24 Price Changed $6,795,000 -2.9% $227 / Sq Ft
05/28/2024 05/28/24 For Sale $7,000,000 -- $234 / Sq Ft
Source: Snake River Regional MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • L

    Seller's Agent in 2025

    Luke Bloxham

    Evolv Brokerage

    Section Image

  • A

    Buyer's Agent in 2025

    Ayden Rennaker

    Real Estate Two70

    (503) 793-6032

    1 Total Sale

    Ayden Rennaker
    Section Image
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Source: Snake River Regional MLS

MLS Number: 2165393

Snake River Regional MLS

Idaho Madison County Rexburg

83440

This home and is currently priced at $6,795,000, approximately $227 per square foot. This property was built in 2003. This home is a home located in Madison County with nearby schools including Hibbard Elementary School, Madison Junior High School, and Madison Senior High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Snake River Regional MLS Copyright Snake River MLS. All rights reserved. Information is deemed reliable but not guaranteed.

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