ActiveMLSĀ® 98972987
324 NE 3rd St., Meridian, ID 83642 photo 1
324 NE 3rd St., Meridian, ID 83642 photo 2
324 NE 3rd St., Meridian, ID 83642 photo 3
324 NE 3rd St., Meridian, ID 83642 photo 4
324 NE 3rd St., Meridian, ID 83642 photo 5
324 NE 3rd St., Meridian, ID 83642 photo 6
324 NE 3rd St., Meridian, ID 83642 photo 7
324 NE 3rd St., Meridian, ID 83642 photo 8
324 NE 3rd St., Meridian, ID 83642 photo 9
324 NE 3rd St., Meridian, ID 83642 photo 10
324 NE 3rd St., Meridian, ID 83642 photo 11
324 NE 3rd St., Meridian, ID 83642 photo 12
Lease
MLSĀ® 98972987
$6,950,000
324 NE 3rd St., Meridian, ID 83642
28,238 Sq.Ft. Built 2018
Description

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.

Interior features
  • UtilitiesSewer Connected
  • Air conditioningCentral Air
  • Lot description1 - 4.99 Acres
Exterior features
  • Lot description1 - 4.99 Acres
  • Roofing materialsComposition

Contact Agent

Brad Little

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Location