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About the Listing 13115 - 17397,561202
324 NE 3rd Street is a 28-unit multi-family investment-grade property that is easy to manage with a strong rental history. The unit mix includes virtually identical two-bedroom, two-bath units with a primary bedroom and private bath, in-unit laundry, separate kitchen and dining areas, and spacious living rooms. Constructed in 2018, the development comprises the Third Street Square plat, which consists of eight (8) parcel numbers assigned to each building and the common area clubhouse, providing flexibility for investors. The property also features a common-area clubhouse with numerous opportunities to enhance tenant amenities. The property has abundant on-site parking, including 30 covered carport stalls and additional surface parking. The property has maintained near 100% occupancy since 2018 and has upside income potential relative to market rents. The property is offered at $6,950,000, yielding a 5.25% going-in capitalization rate based on stabilized pro forma income at estimated market rents.
Listing Highlights
Status
Active
Days on Site
13
Property Type
Multi-Family
MLS ®
98972987
Year Built
2018
Total Square Footage
28,238
Lot/Acreage
N/A
County
Ada
Neighborhood
0 Not Applic.
Area
Meridian NW - 1030
School District
West Ada School District
Elementary School
Meridian
Middle School
Meridian Middle
High School
Meridian
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances: Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (All Units)
- Air Cond: Central Air
- Heating: Forced Air,Natural Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: City Service
Exterior Details
- Lot Description: 1 - 4.99 Acres,Sewer Connected
- Garage Capacity: N/A
- Parking Spaces: 40
- Roof: Composition
- Others:
- Sewer:
- Parking Features: Carport
Financial Details
- Tax Amount: $29,169
- Taxes w/Assessments: N/A
- Tax/Property ID: R8393710040
- Tax Year: 2025
Payment Calculator
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Questions About..
324 NE 3rd St. Meridian, ID 83642
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